Picard Medical, Inc. (PMI): debt financing — Picard Medical Secures $1M Bridge Loan from Chairman Affiliate at 6% Interest

Picard Medical, Inc.

$1M unsecured promissory note issued to Fang Family Fund, LLC, an affiliate of Chairman Richard Fang.
Interest at 6% per annum, compounded annually; maturity November 27, 2026.
Proceeds for general corporate purposes, including working capital and liquidity management.
Mandatory prepayment if company raises $10M+ in equity financing; prepayable anytime without penalty.
Transaction approved by disinterested Audit Committee and Board as fair to the company.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

Picard Medical, Inc. incurred loan of $1,000,000 with Fang Family Fund, LLC at 6% per annum, compounded annually maturing November 27, 2026.

Instrument: loan
Principal: $1,000,000
Counterparty: Fang Family Fund, LLC
Rate: 6% per annum, compounded annually
Maturity: November 27, 2026
Event: incurrence

Exact text from the filing

On November 26, 2025 (the " Effective Date "), Picard Medical, Inc., a Delaware corporation (the " Company ") entered into a short-term bridge financing in the form of an unsecured promissory note (the " Note ") with Fang Family Fund, LLC (" FFF I "), an affiliate of Mr. Richard Fang, the Chairman of the Company’s Board of Directors (the " Board "), pursuant to which FFF I agreed to lend the Company an aggregate principal amount of $1,000,000 (the " Principal Amount ").

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Picard Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-25-009479

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