Picard Medical, Inc. (PMI) Form S-3 — Oct 22, 2026
Picard Medical filed an S-3 shelf registration to register the resale of up to 500,000 shares of common stock by three selling stockholders — consisting of 250,000 shares issuable upon conversion of $1.0 million of unsecured convertible notes issued September 30, 2026, and 250,000 shares issuable upon exercise of pre-funded warrants at $0.0001 per share. The company receives no proceeds from the resale. The 500,000 shares represent approximately 20% of the 2,458,574 shares outstanding as of October 13, 2026, creating substantial dilution and overhang risk. The notes carry a $4.00 conversion floor price, 3.0% interest, and mature September 30, 2027.
Key figures
- Debt Amount
- 1000000
- Interest Rate
- 3
- Maturity Date
- 2027-09-30
- Gross Proceeds
- 0
- Offering Price
- 4
- Shares Offered
- 500000
- Shares Outstanding
- 2458574
- Dilution percent
- approx 20.3%
- Compliance deadline
- November 8, 2027
- Reverse split ratio
- 1-for-50
- Registration fee usd
- 471.98
- Conversion floor price
- $4.00 per share
- Warrant exercise price
- 0.0001
- Aggregate max offering price
- 5425000
- Shares after full conversion
- 2958574
- Stockholders equity dec31 2025
- $3.8 million
AI analysis
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