Picard Medical, Inc. (PMI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 20, 2026

Risk Assessment Details

Potential Dilution: 22.85% of current shares
Recent Dilution: 28.24% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
92M
Potential Supply
21M
Additional shares possible
Splits
None
Past 2 years

Summary

PMI currently has 92.3M outstanding shares. with moderate dilution risk from 21.1M authorized shares representing 22.8% potential dilution. The company has significantly diluted shareholders by 28.24% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 20, 2026

S-1 filing: This prospectus relates to the resale of up to 16,211,479 shares of common stock by selling stockholders, consisting of shares issuable upon the exercise of warrants and previously issued common shares.

92M 21M
May 15, 2026

10-Q filing | 74.4M shares outstanding

74M 4.9M
May 11, 2026

8-K filing: Picard Medical, Inc. completed a registered public offering of 16,666,667 shares of common stock and pre-funded warrants, along with series A and B warrants, generating approximately $5.0 million in gross proceeds. ($5.0M proceeds)

75M 4.9M
May 05, 2026

8-K filing: Picard Medical, Inc. exchanged existing warrants for new warrants to purchase common stock, with the exchange conditioned upon the closing of a registered offering.

75M 26M
May 01, 2026

S-1/A filing: Picard Medical, Inc. is offering a combination of common stock, pre-funded warrants, Series A common warrants, and Series B common warrants.

75M 26M
Mar 30, 2026

10-K filing | 73.7M shares outstanding

74M 4.9M
Dec 30, 2025

8-K filing: Picard Medical, Inc. entered into a securities purchase agreement with an institutional investor to issue senior secured notes and warrants to purchase 7,009,346 shares of common stock in a private placement, with WestPark Capital, Inc. acting as the placement agent.

74M 4.9M
Nov 14, 2025

10-Q filing | 73.7M shares outstanding

74M 4.9M
Aug 06, 2025

S-1/A filing: S-1/A filing for common stock offering with 4,250,000 shares offered and an underwriter's option for an additional 637,500 shares.

72M 4.9M
Jul 30, 2025

S-1/A filing: This is an S-1/A filing for an offering of common stock. The company intends to use the net proceeds of this offering to obtain additional capital to support its operations, to create a public market for its common stock and to facilitate its future access to the public equity markets.

72M 4.3M
Jul 18, 2025

S-1/A filing: This S-1/A filing describes a common stock offering of 4,250,000 shares with an underwriter's option to purchase an additional 637,500 shares. The company estimates net proceeds of $15.4 million (or $17.8 million if the underwriter exercises the option).

72M 4.9M
Jul 14, 2025

S-1/A filing: This is an S-1/A filing for an offering of common stock.

72M 4.9M
May 23, 2025

S-1/A filing: The filing is an S-1/A form related to a common stock offering, including an underwriter's over-allotment option and underwriter's warrants. The company intends to use the net proceeds of this offering to obtain additional capital to support operations, to create a public market for our common stock and to facilitate our future access to the public equity markets.

N/A 0
May 09, 2025

S-1/A filing: This is an S-1/A filing for an initial public offering of common stock.

N/A 0
Apr 25, 2025

S-1/A filing: This S-1/A filing describes the principal terms of a common stock offering, including the number of shares offered, underwriter's over-allotment option, common stock outstanding after the offering, underwriter's warrants, use of proceeds, and dividend policy.

N/A 0
Apr 01, 2025

S-1 filing: An S-1 filing for an initial public offering of common stock.

N/A 0
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