Picard Medical Secures $1 Million Bridge Loan from Fang Family Fund
Picard Medical Inc. has entered into a new short-term bridge financing agreement with Fang Family Fund, LLC, an affiliate of its Chairman, Mr. Richard Fang. Under the agreement, Fang Family Fund will lend the company $1,000,000 in unsecured promissory notes bearing an annual interest rate of 6%, compounded annually. The loan is intended to support Picard Medical's general corporate purposes, including working capital and near-term operating expenses. The principal and accrued interest are due for repayment by November 27, 2026, with the company retaining the option to prepay without penalty. The terms of the deal were reviewed and approved by disinterested members of the company's board and audit committee, who determined the conditions to be fair and comparable to those available from unaffiliated third parties.
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