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News  ›  GlobeNewswire Inc.

Picard Medical Announces Up to $50 Million Senior Secured Debt Financing

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Picard Medical Announces Up to $50 Million Senior Secured Debt Financing

Picard Medical, Inc., parent company of SynCardia Systems, announced a definitive agreement for a private placement of up to $50 million in senior secured notes due 2028 with warrants. The company expects to issue an initial $15 million at closing with options for up to $35 million additional in tranches. Proceeds will be used for working capital and general corporate purposes.

Insights
PMI   positive

The company successfully secured a significant financing agreement of up to $50 million, demonstrating investor confidence and providing capital for operations and growth. This is a positive development for a medical device company with an FDA-approved product and over 2,100 implants globally.