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0 0 0 0 -0.0193236714975843 -0.0193236714975843 -0.0233816425120771 0.00483091787439625
Stock impact report

Picard Medical enters agreement for $50m senior secured notes [Yahoo! Finance]

Picard Medical, Inc. (PMI) 
Company Research Source: Yahoo! Finance
The transaction will see WestPark Capital act as sole placement agent. The company plans to initially issue $15m in principal amount of notes at the time of closing, with the option to fund up to another $35m principal amount in one or more tranches, subject to specified conditions. These notes will represent senior secured obligations for Picard Medical. Net proceeds from the financing are intended for use as working capital and for general corporate purposes. Picard Medical is the parent company of SynCardia Systems, a Tucson, Arizona–based entity that commercialises, develops, and manufactures the SynCardia Total Artificial Heart (STAH). This implantable system fully replaces the function of a failing or failed human heart and is the only artificial heart to have received approval from both Health Canada and the Food and Drug Administration (FDA). The STAH remains the only commercially available artificial heart in Canada and the US. With over 2,100 STAH implants con Show less Read more
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