PMI · Picard Medical, Inc.

Picard Medical, Inc. disclosed two significant events in this Form 8-K. First, on May 5, 2026, the company entered into a securities purchase agreement to sell shares and warrants in a registered public offering, generating approximately $5.0 million in gross proceeds. The offering included 16,666,667 shares of common stock (or pre-funded warrants in lieu thereof) along with Series A and Series B warrants to purchase an equal number of shares. The combined price was $0.30 per share and accompanying warrants, with pre-funded warrants priced at $0.2999. The warrants are exercisable immediately at $0.35 per share for common warrants and $0.0001 for pre-funded warrants. Proceeds are intended for working capital and general corporate purposes, including debt repayment. WestPark Capital acted as sole placement agent, receiving a 7.0% cash fee. The offering closed on May 6, 2026.

Second, on May 8, 2026, the company received a notice from NYSE American indicating non-compliance with continued listing standards due to stockholders' equity of $3.8 million as of December 31, 2025, below the $4.0 million threshold, combined with losses in three of the four most recent fiscal years. The company must submit a compliance plan by June 7, 2026, and has until November 8, 2027 to regain compliance. The common stock continues to trade under the symbol PMI with a '.BC' designation indicating below compliance status. The delisting notice does not immediately affect trading or business operations.