Picard Medical announces 1-for-50 reverse stock split to maintain NYSE American listing; stock slips

Picard Medical (PMI), parent company of SynCardia Systems LLC, announced that its board of directors has approved a 1-for-50 reverse stock split of its common stock to support continued compliance with NYSE American listing standards.

Following the announcement, Picard Medical shares experienced downward pressure, falling 5.31% to $$0.11 after-hours on Monday.

The split will take effect at 5:00 p.m. ET on July 31, 2026. The common stock will begin trading on a split-adjusted basis when markets open on August 3, 2026, retaining ticker symbol "PMI" under a new CUSIP number (71953R 207).

Every 50 existing shares will automatically combine into one share. Fractional shares will be rounded up to the nearest whole share, and exercise prices for outstanding warrants and equity awards will be adjusted proportionally.

The move follows stockholder approval on July 17, 2026, authorizing a split ratio between 1-for-15 and 1-for-50 at the Board's discretion.

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