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TUCSON, Ariz. - Picard Medical, Inc. (NYSE American:PMI) announced Tuesday it has closed its initial public offering of 4,250,000 shares of common stock at $4.00 per share, raising $17 million in gross proceeds before underwriting discounts and offering expenses. The company currently maintains a market capitalization of $332 million.
The company’s shares began trading on the NYSE American exchange under the ticker symbol "PMI" on August 29, 2025, and have since shown strong momentum with a 14.75% return in the first week of trading. Picard Medical has granted underwriters a 30-day option to purchase up to an additional 637,500 shares at the public offering price to cover potential over-allotments. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with additional insights available to subscribers.
WestPark Capital, Inc. served as Lead Manager and Sole Bookrunner for the offering, with Sentinel Brokers Co., Inc. acting as Co-Manager. E.F. Hutton & Co. and Uphorizon, LLC provided financial advisory services to the company.
Picard Medical is the parent company of SynCardia Systems, LLC, which develops and manufactures the SynCardia Total Artificial Heart (STAH). The STAH is an implantable system designed to replace the functions of a failing heart and has received approval from both the FDA and Health Canada. According to the company’s press release statement, the device has been implanted in more than 2,100 patients across 27 countries.
A registration statement relating to the offered securities was declared effective by the Securities and Exchange Commission on August 12, 2025.
In other recent news, Picard Medical Inc. made its debut on the NYSE American, with its stock opening at $4.21 per share. The initial public offering was priced at $4.00 per share, allowing the company to raise $17 million in gross proceeds. This capital was raised before accounting for underwriting discounts and offering expenses. Picard Medical offered 4,250,000 shares of common stock in this IPO. The company is noted for manufacturing the only FDA-approved total artificial heart. These recent developments mark a significant milestone for Picard Medical as it enters the public market.
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