Picard Medical, Inc. Announces 1-for-50 Reverse Stock Split to Support Continued NYSE American Listing Compliance
Key Points:
- Picard Medical, Inc. (NYSE American: PMI) has announced a reverse stock split of its common stock at a ratio of 1-for-50, effective July 31, 2026, at 5:00 PM Eastern Time.
- The reverse stock split is aimed at supporting the Company’s compliance with NYSE American listing requirements.
- Trading on a split-adjusted basis will commence at market open on August 3, 2026, under the existing ticker symbol “PMI” but with a new CUSIP number.
- No fractional shares will be issued; shareholders entitled to a fractional share will receive one whole share instead.
- The reverse split will proportionately reduce the number of outstanding shares while leaving each shareholder’s percentage ownership substantially unchanged, except for the rounding up of fractional shares.
- Outstanding equity awards, warrants, and other convertible securities will be adjusted accordingly, including exercise or conversion prices.
- Continental Stock Transfer & Trust Company will act as the exchange agent. Shareholders holding shares electronically or in book-entry form do not need to take action to receive split-adjusted shares.
- The Company’s Interim CEO and Chairman, Richard Fang, emphasized the split as a critical step for continued NYSE American listing and as a positioning tool for Picard’s next growth phase.
- The Company remains focused on executing its updated commercial strategy for the SynCardia Total Artificial Heart, expanding technology adoption, optimizing manufacturing, advancing development of its next-generation platform, and pursuing opportunities for long-term shareholder value.
Details Shareholders Need to Know
- Reverse Stock Split Ratio: Every 50 shares of issued and outstanding common stock will be automatically combined into one share. This means the number of shares you own will decrease, but the value per share should adjust accordingly. The par value remains \$0.0001 per share.
- Effective Dates: Split effective July 31, 2026, at 5:00 PM ET. Trading on a split-adjusted basis begins August 3, 2026.
- NYSE Compliance: The reverse split is specifically implemented to help Picard Medical maintain compliance with minimum share price requirements for continued listing on NYSE American, which is a critical factor in preserving liquidity and investor access.
- Fractional Shares: No fractional shares will be issued; holders with fractional entitlements will be rounded up to the nearest whole share, potentially benefiting holders of odd-lot positions.
- Adjustment of Derivatives: All outstanding equity awards, warrants, and convertible securities will be adjusted to reflect the new share structure, including exercise and conversion prices.
- No Action Required: Shareholders holding shares electronically or in book-entry form are not required to take any action.
- New CUSIP: The split-adjusted shares will have a new CUSIP number, important for institutional investors and brokers.
- Potential Price Sensitivity: Reverse stock splits are often viewed as price-sensitive events and may impact share price due to the perception of compliance actions, changes in liquidity, and market psychology. The Company’s announcement is intended to reassure investors about its continued listing and future growth plans.
- Strategic Direction: The Company remains focused on commercial execution, technology advancement, and long-term value creation, which are likely to be closely watched by investors.
CEO Statement
Richard Fang, Interim Chief Executive Officer and Chairman, stated: “The Reverse Stock Split is an important step in supporting our continued listing on NYSE American while positioning Picard Medical for our next phase of growth. We remain focused on executing our updated commercial strategy for the SynCardia Total Artificial Heart, expanding adoption of this technology, optimizing manufacturing, advancing the development of the Emperor, our next-generation total artificial heart platform, and pursuing opportunities to create long-term value for our stockholders.”
Contact Information
- Investors: Eric Ribner, LifeSci Advisors LLC, [email protected]
- Company IR: [email protected]
- General/Media: Brittany Lanza, [email protected]
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Forward-looking statements herein may involve risks and uncertainties. Investors should review Picard Medical, Inc.’s filings with the SEC, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, for further information and risk factors. The Company expressly disclaims any obligation to update or revise forward-looking statements.
