Picard Medical files for stock and warrant offering

Picard Medical (NYSE: PMI) filed for a public offering of 11,820,331 shares of common stock and warrants to purchase an equal number of shares, according to a company statement.

The medical company is offering common stock with accompanying common warrants, plus pre-funded warrants for investors whose purchases would result in ownership exceeding 4.99% or 9.99% of outstanding shares. Each common stock share will be sold with one common warrant at a combined price of $0.846, matching the April 24, 2026 closing price on NYSE American.

The common warrants will be exercisable immediately at $0.846 per share and expire five years from issuance. Pre-funded warrants carry an exercise price of $0.0001 per share and do not expire until fully exercised.

For each pre-funded warrant sold, the number of common stock shares offered will decrease proportionally, though the total number of common warrants remains unchanged regardless of the mix between common stock and pre-funded warrants sold.

The offering includes shares that may be issued upon exercise of the warrants being sold. The company's common stock has a par value of $0.0001 per share.

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