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Picard Medical, Inc. Announces Pricing of $17 Million Initial Public Offering

TUCSON, Ariz., Aug. 28, 2025 (GLOBE NEWSWIRE) -- Picard Medical, Inc. ("Picard" or the "Company"), a medical technology company that manufactures and sells the only total artificial heart (the "SynCardia Total Artificial Heart", or "STAH") approved by the U.S. Food and Drug Administration ("FDA"), and Health Canada, today announced the pricing of its initial public offering (the "Offering"). The Offering consists of 4,250,000 shares of common stock priced at a public offering price of $4.00 per share, for total gross proceeds of $17 million, before deducting underwriting discounts and offering expenses. The shares of common stock have been approved for listing on the NYSE American, LLC and are expected to commence trading on August 29, 2025, under the ticker symbol "PMI."

The Company has granted the underwriters an option, within 30 days from the closing date of the Offering, to purchase up to an additional 637,500 shares of common stock at the public offering price, less underwriting discounts, to cover over-allotment, if any.  The Offering is being conducted on a firm commitment basis. WestPark Capital, Inc. is Lead Manager and Sole Bookrunner for the Offering and representative of the underwriters for the Offering. Sentinel Brokers Co., Inc. is Co-Manager.  E.F. Hutton & Co. and Uphorizon, LLC are financial advisors to the issuer. Winston & Strawn LLP is acting as counsel to the Company, and Sheppard, Mullin, Richter & Hampton LLP is acting as counsel to the underwriters, in connection with the Offering.

The Company intends to use the proceeds from this Offering to support market expansion via a joint venture it has established in China, SynCardia Medical (Beijing), Inc., to fund product research and development activities including those related to the Emperor (a fully implantable, ...