secwatch.observer — SEC 8-K summary
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Issuer:     Picard Medical, Inc. (PMI)
CIK:        0002030617
Form:       8-K
Filed at:   2026-10-06T16:35:15+00:00
Accession:  0001437749-26-032125
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2030617/000143774926032125/0001437749-26-032125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2030617/000143774926032125/pmi20260916_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-032125

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