Picard Medical, Inc. announced a private placement financing of up to $50.0 million in senior secured notes due 2028, with an initial $15.0 million principal amount issued at closing. The company intends to use the net proceeds for working capital and general corporate purposes. The notes will be senior secured obligations, and the offering is being managed by WestPark Capital Inc. Picard Medical is the parent company of SynCardia Systems LLC, which develops and commercializes the SynCardia Total Artificial Heart, the only commercially available artificial heart technology approved by the FDA and Health Canada.

Read more at GlobeNewswire: Picard Medical Announces Up to $50 Million Senior Secured