04:00 AM EDT, 08/29/2025 (MT Newswires) -- Picard Medical ( PMI ) said late Thursday it has priced an initial public offering of 4.25 million shares at $4 per share, for total proceeds of $17 million.

The medical technology company, which manufactures an artificial heart, said shares are expected to begin trading on Friday on the New York Stock Exchange under the ticker symbol "PMI."

The company said it has also granted underwriters a 30-day option to purchase up to 637,500 additional shares.

The company said it plans to use proceeds from the offering to support market expansion via a joint venture it has established in China, to fund product research and development, to repay debt, and for general corporate purposes.