---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-26-004529"
form_type: "8-K"
ticker: "PMI"
cik: "0002030617"
company_name: "Picard Medical, Inc."
filed_at: "2026-05-05T23:59:59+00:00"
generated_at: "2026-05-14T23:35:39.062687+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Picard Medical prices $5M offering, exchanges high-price warrants for new $0.35 warrants

## Summary
- Gross proceeds ~$5M from selling 16.67M shares and common warrants at $0.30/unit.
- Existing warrants for 7.01M shares at $2.675 exchanged for new warrants for 10M shares at $0.35.
- New warrants eliminate forced exercise and anti-dilution provisions present in old warrants.
- Net proceeds for working capital and payoff of senior secured note and working capital loans.
- Offering expected to close May 6, 2026.

## SEC filing metadata
- accession: 0001829126-26-004529
- form_type: 8-K
- ticker: PMI
- cik: 0002030617
- company_name: Picard Medical, Inc.
- filed_at: 2026-05-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004529/0001829126-26-004529-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004529/picardmedical_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-004529
- JSON: https://secwatch.observer/filing/0001829126-26-004529.json
- Plain text: https://secwatch.observer/filing/0001829126-26-004529.txt

## Source-grounded claims
- claim_id: 5fd50a3aaf5f2a3b97d47ff5d57c30036f4211b2
  claim: Picard Medical, Inc. entered into Warrant Issuance and Exchange Agreement with holder (the “Holder”) (effective 2026-05-05).
  evidence_excerpt: On May 5, 2026, Picard Medical, Inc. (the “Company”) entered into a Warrant Issuance and Exchange Agreement (the “Exchange Agreement”) with the holder (the “Holder”) of certain of the Company’s outstanding warrants to purchase shares of the Company’s common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004529/0001829126-26-004529-index.htm

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