---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-26-004960"
form_type: "8-K"
ticker: "PMI"
cik: "0002030617"
company_name: "Picard Medical, Inc."
filed_at: "2026-05-11T21:08:14+00:00"
generated_at: "2026-05-11T21:11:26.819311+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Picard Medical raises $5M in public offering, receives NYSE American delisting notice for low equity

## Summary
- Gross proceeds of $5.0M from sale of ~16.7M shares (or pre-funded warrants) and Series A/B warrants at $0.30 per unit.
- Proceeds used for working capital and debt repayment; offering closed May 6, 2026.
- NYSE American notified stockholders' equity of $3.8M as of Dec 31, 2025 is below $4M threshold; PMI must submit compliance plan by June 7, 2026.
- Regain compliance deadline Nov 8, 2027; stock continues trading with '.BC' indicator.
- Company directors and officers subject to 30-day lock-up; 60-day company restriction on further issuance.

## SEC filing metadata
- accession: 0001829126-26-004960
- form_type: 8-K
- ticker: PMI
- cik: 0002030617
- company_name: Picard Medical, Inc.
- filed_at: 2026-05-11T21:08:14+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004960/0001829126-26-004960-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004960/picardmedical_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-004960
- JSON: https://secwatch.observer/filing/0001829126-26-004960.json
- Plain text: https://secwatch.observer/filing/0001829126-26-004960.txt

## Key facts
- Listing & Compliance Notices
  Picard Medical, Inc. received a nyse_american deficiency notice notice regarding stockholders equity (rules 1003(a)(ii)).
  - Exchange: nyse american
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 1003(a)(ii)
  source text: May 8, 2026, the Company received a written notice (the “Notice”) from the NYSE American LLC (the “NYSE American”) indicating that the Company is not in compliance with the NYSE American continued listing standards set forth in Section 1003(a)(ii) of the NYSE American Company Guide (the “Company Guide”) requiring a company to have stockholders’ equity of at least $4.0 million if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. The Notice states that the Company reported a stockholders’ equity of approximately $3.8 million as of
  evidence_url: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004960/0001829126-26-004960-index.htm
- Material Agreements
  Picard Medical, Inc. entered into Placement Agency Agreement with WestPark Capital, Inc. valued at 7.0% of the gross proceeds of the Offering (effective 2026-05-05).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: WestPark Capital, Inc.
  - Value: 7.0% of the gross proceeds of the Offering
  - Effective: 2026-05-05
  source text: WestPark Capital, Inc. acted as the sole placement agent (the “Placement Agent”) in connection with the Offering pursuant to a placement agency agreement, dated May 5, 2026, by and between the Company and the Placement Agent (the “Placement Agency Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004960/0001829126-26-004960-index.htm
- Material Agreements
  Picard Medical, Inc. entered into Purchase Agreement with certain investors valued at aggregate of approximately $5.0 million (effective 2026-05-05).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain investors
  - Value: aggregate of approximately $5.0 million
  - Effective: 2026-05-05
  source text: Certain of the investors purchased their Offered Shares and Common Warrants pursuant to a securities purchase agreement dated May 5, 2026 by and among the Company and such investors (the “ Purchase Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/2030617/000182912626004960/0001829126-26-004960-index.htm

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