S-1 · primary offering
Issued 2025
Proposed maximum
Shares registered
- Filed
- Effective
PMI$7.90-7.93%
Picard Medical, Inc.
Sector: Surgical & Medical Instruments & ApparatusIndustry: Medical - DevicesCountry: USExchange: NYSE
Mkt Cap:$21M
Float & O/S:
Inst Own:
DilutionScan read 34 of Picard Medical, Inc.'s SEC filings and found 7 warrant series, 5 convertibles, 1 shelf registration, 4 S-1 registrations and 5 completed offerings on file for PMI. The latest dilution event on file is a securities exchange on Oct 22, 2026. Analysis updated Oct 24, 2026.
Signal8 Summary
PMI
Going-concern warning and negative runway
Snapshot
Picard Medical is a tiny medical device maker in severe financial distress. While FY 2025 revenue grew 12.5% to $4.9M, the business lost $27M and burned $15.7M in free cash flow. With only $7.5M in cash, the company has a negative cash runway of roughly 1.8 months.
What's Happening Right Now
- : Q2 revenue rose 39% year-over-year to $3.0 million while the net loss narrowed 16% to $5.7 million.
- : NYSE American accepted the company's plan to address stockholders' equity deficiencies, granting a compliance period through November 2027.
- : The company executed a 1-for-50 reverse stock split to regain compliance with NYSE American listing standards.
- : CEO Patrick Schnegelsberg stepped down and was replaced by Interim CEO Richard Fang.
- : Kuehn Law is investigating potential breaches of fiduciary duty related to an alleged fraudulent stock promotion scheme.
Raise routes on file: shelf awaiting effectiveness + effective S-1 · latest dilution event 12 days ago
Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need
AI dilution summary
The dominant contractual driver and its mechanism, then each further driver ranked.
Latest dilution event
Oct 22, 2026 · Exchange
Every warrant, convertible, ATM and shelf, cited to the filing
A free account reads 3 tickers a day in full
$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)
Share count and cash history
Shares outstanding, potential dilution and cash over time
Completed
S-1 · resale registration
Issued 2026
Proposed maximum
Shares registered
- Filed
- Effective
S-1 · primary offering
Issued 2026
Proposed maximum
Shares registered
- Filed
- Effective
S-1 · resale registration
Issued 2026
Proposed maximum
Shares registered
- Filed
- Effective
Warrant
Issued 2025
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Warrant
Issued 2026
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Warrant
Issued 2025
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Series A Common Warrants (May 2026 Offering)
Issued 2026
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Series B Common Warrants (May 2026 Offering)
Issued 2026
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Pre-Funded Warrants (May 2026 Offering)
Issued 2026
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Convertible
Principal
Conversion Price
Remaining principal
- Shares on conversion
- Interest rate
- Maturity
Convertible
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Conversion Price
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- Interest rate
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Convertible
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Conversion Price
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- Shares on conversion
- Interest rate
- Maturity
Convertible
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Conversion Price
Remaining principal
- Shares on conversion
- Interest rate
- Maturity
Series A-1 Redeemable Convertible Preferred Stock
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Conversion Price
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- Shares on conversion
- Interest rate
- Maturity
S-3 shelf registration
Issued 2026
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
PIPE
Issued 2025
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
PIPE
Gross proceeds
Price per share
- Shares issued
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- Placement agent
Public offering
Issued 2026
Gross proceeds
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- Shares issued
- Warrant coverage
- Placement agent
PIPE
Issued 2026
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
Offering
Issued 2026
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
Know who's about to sell into your PMI trade
Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.
$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)
