Picard Medical exchanges warrants for 200,000 shares of common stock

Picard Medical, Inc. (NYSE:PMI) entered into an agreement Monday to exchange previously issued warrants for 200,000 shares of its common stock, according to a statement based on a recent SEC filing.

The agreement, finalized with the placement agent and an employee designee who held the warrants, covers warrants originally issued as part of a private placement that closed on December 26, 2025. Before a 1-for-50 reverse stock split effective July 31, 2026, these warrants were exercisable for 8,187,766 shares of Picard Medical’s common stock.

Under the terms of the Warrant Amendment and Exchange Agreement, the warrant holders agreed to surrender all outstanding warrants in exchange for 200,000 shares of common stock. The company will not receive any cash or other consideration as part of the transaction.

The warrant exchange comes as Picard Medical’s stock trades at $7.09 with a market capitalization of $17.24 million. The shares have declined 44% over the past week, according to InvestingPro data. Despite recent volatility, InvestingPro analysis suggests the stock is currently undervalued relative to its Fair Value, placing it among opportunities on the Most Undervalued list. For deeper insights into PMI’s valuation and access to over 10 additional ProTips, visit the comprehensive Pro Research Report available exclusively to subscribers.

The issuance of the shares fully satisfies and cancels the surrendered warrants, including all associated rights and adjustment provisions. The warrant holders will also waive certain liquidated damages and release Picard Medical from claims related to the warrants, as outlined in the agreement.

Picard Medical’s obligation to issue the shares was subject to the completion of required documentation by the holders and approval of a supplemental listing application by the NYSE American exchange. After these conditions were met, the company issued the 200,000 shares on Wednesday, delivering them in book-entry form.

The company stated it relied on an exemption from registration under Section 3(a)(9) of the Securities Act of 1933 for this transaction. No broker, dealer, or other party solicited the exchange for a commission or other remuneration.

This article is based on a press release statement from Picard Medical, Inc.