{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-26-032125","form_type":"8-K","ticker":"PMI","cik":"0002030617","company_name":"Picard Medical, Inc.","filed_at":"2026-10-06T16:35:15+00:00","discovered_at":"2026-10-06T16:36:00.294284+00:00","generated_at":"2026-10-12T16:26:45.975577+00:00","sec_items":["2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Picard Medical issues $1.0M unsecured convertible notes with $4.00 conversion floor and pre-funded warrants","bullets":["Picard Medical (PMI) issued three unsecured convertible notes to accredited investors on Sept 30, 2026, with $1.0M aggregate principal and 3.0% annual interest.","Notes mature Sept 30, 2027; holders may convert at the higher of $4.00 or the prior closing price, capping principal conversion at 250,000 shares.","Each conversion share comes with a pre-funded warrant for one share at $0.0001, exercisable 60 days after issuance and expiring two years later.","Company may force conversion if it raises at least $10.0M in gross equity proceeds; issuances are capped at 19.99% of outstanding shares until stockholder approval.","Holders cannot convert if it would make them beneficial owners of more than 4.99% of Picard Medical's outstanding common stock."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-26-032125","json":"https://secwatch.observer/filing/0001437749-26-032125.json","markdown":"https://secwatch.observer/filing/0001437749-26-032125.md","text":"https://secwatch.observer/filing/0001437749-26-032125.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2030617/000143774926032125/0001437749-26-032125-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2030617/000143774926032125/pmi20260916_8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T16:26:45.975577+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}