Picard Medical issues $1.0 million in convertible notes, conversion floor $4.00 per share
Picard Medical, Inc. issued three unsecured convertible notes totaling $1.0 million to three accredited investors on September 30, 2026, maturing September 30, 2027, with 3.0% interest. Conversion is priced at a floor of $4.00 per share, and the filing says conversion could dilute existing stockholders by up to about 250,000 shares of common stock plus an equal number of pre-funded warrants, excluding interest-related shares.
Key points
- Notes: three unsecured convertible notes, $1.0 million aggregate principal, 3.0% annual interest, maturing September 30, 2027
- Conversion price is the higher of $4.00 per share or the prior-day closing price; maximum of 250,000 shares at the $4.00 floor, excluding interest
- Each converted share comes with a pre-funded warrant for one additional share at $0.0001 exercise price, up to 250,000 more shares
- Issuance is capped at 19.99% of outstanding shares until stockholder approval is obtained, per NYSE American rules
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 06, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.