Monitor for any Event of Default triggers which would force immediate repayment at 150% premium or allow highly dilutive conversion at 25% below market. The monthly $103,703 payments starting July 2026 create significant cash flow pressure for a $71M market cap company.
Price Chart
Executive Summary
Picard Medical raised $500,000 through a convertible note with Quick Capital, LLC, accompanied by a $55,556 original issue discount and $80,128 in origination shares. The note requires $103,703.70 monthly repayments starting July 2026 and allows conversion only upon default at a steep 25% premium, creating significant dilution risk for shareholders.
Key Financial Metrics
Key Facts
- Raised $500,000 through a $555,555.56 convertible note with 10% original issue discount
- Quick Capital received 80,128 origination shares valued at 15% of note value
- Note requires six monthly amortization payments of $103,703.70 starting July 1, 2026
- Conversion rights only trigger upon Event of Default at 75% of lowest trading price over 10 days
- Upon default, note becomes immediately due at 150% of outstanding amount (cumulative max 200%)
Financial Impact
$500,000 raised with $55,556 immediate interest cost and 80,128 shares dilution
Risk Factors
- High probability of default given aggressive repayment terms
- Severe dilution if conversion triggers at 75% of market price
- Covenant restrictions limit capital allocation flexibility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001829126-26-003451 |
| Document: picardmedical_ex4-1.htm | 0001829126-26-003451 |
| Document: picardmedical_8k.htm | 0001829126-26-003451 |
| Document: 0001829126-26-003451-index-headers.html | 0001829126-26-003451 |
| Document: 0001829126-26-003451-index.html | 0001829126-26-003451 |
| Document: 0001829126-26-003451.txt | 0001829126-26-003451 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $7.09 | awaiting T+60 | — | $6.68 (−5.85%) |
Oct 22, 2026 4d ago | S-3 | $7.37 | awaiting T+60 | — | $6.68 (+9.43%) |
Oct 6, 2026 20d ago | 8-K | $8.74 | awaiting T+60 | — | $6.68 (+23.63%) |
Jul 27, 2026 13w ago | 8-K | $0.0878 $0.2096 | ▲ +138.72% | ▲ +134.67% | $6.68 (+7502.51%) |
Jul 15, 2026 14w ago | DEFA14A | $0.1600 $0.1896 | ▲ +18.50% | ▲ +14.79% | $6.68 (+4071.88%) |
Jul 8, 2026 15w ago | DEFA14A | $0.1500 $0.0864 | ▼ −42.40% | ▼ −44.89% | $6.68 (+4350.00%) |
Jul 2, 2026 16w ago | 8-K / 425 | $0.1694 | awaiting T+60 | — | $6.68 (+3840.38%) |
Jun 29, 2026 17w ago | 8-K | $0.1559 $0.0910 | ▼ −41.63% | ▼ −45.25% | $6.68 (+4181.59%) |
Jun 2, 2026 21w ago | Press Release | $13.50 | awaiting T+60 | — | $6.68 (−50.56%) |
Jun 2, 2026 21w ago | 8-K | $13.50 | awaiting T+60 | — | $6.68 (+50.56%) |
US Market Status
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