NewsNovo
has issued three unsecured convertible notes to accredited investors for an aggregate principal amount of $1.0 million, a move that introduces a defined path for equity dilution capped at 250,000 shares.
The company reported the transaction in a Form 8-K filed with the Securities and Exchange Commission on September 30, 2026, detailing terms that allow holders to convert debt into common stock at a price no lower than $4.00 per share.
The notes bear interest at 3.0% per annum, calculated on a 360-day year basis, and mature on September 30, 2027.
Each holder may elect to convert the outstanding balance, which includes unpaid principal and accrued interest, into fully paid and non-assessable shares of Picard Medical common stock.
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