---
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"
generated_at: "2026-10-12T16:26:45.975577+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Picard Medical issues $1.0M unsecured convertible notes with $4.00 conversion floor and pre-funded warrants

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.03, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-032125
- JSON: https://secwatch.observer/filing/0001437749-26-032125.json
- Plain text: https://secwatch.observer/filing/0001437749-26-032125.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.