Picard Medical, Inc. entered into a Warrant Amendment and Exchange Agreement on October 20, 2026, to settle outstanding warrants issued during a private placement closed on December 26, 2025.
Under the terms of the agreement, the Warrant Holders agreed to surrender their warrants in exchange for 200,000 shares of the Company’s common stock. The warrants, which were exercisable for 8,187,766 shares prior to a 1-for-50 reverse stock split effective July 31, 2026, have been fully cancelled and terminated. The exchange was executed without the payment of cash or other consideration by the Warrant Holders.
The issuance of the 200,000 shares was completed on October 22, 2026, after the satisfaction of applicable conditions. The Company relied on an exemption from registration under Section 3(a)(9) of the Securities Act of 1933 for the transaction. The issuance is subject to the approval of the NYSE American and the delivery of required holder documentation.
