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Red Flags Detected

  • Immediate Dilution of $23.53 Per Share (new) — New investors pay $25.46 for shares with a net tangible book value of about $1.93, resulting in substantial dilution.
  • Outstanding Options and Warrants With Exercise Prices Below the Offering Price (new) — 13,086,288 options with a weighted-average exercise price of $11.87 and 202,812 warrants at $11.00 could further dilute investors if exercised.
NASDAQ: PLSE PULSE BIOSCIENCES, INC. 424B5

Pulse Biosciences launches at-the-market offering of up to $60M, with shares priced at market

Filed February 19, 2026 · ~1 min read

Key Changes

  • high

    Pulse Biosciences is offering up to $59,976,196 of common stock via an at-the-market program, with shares sold at prevailing market prices.

    The Offering verify on EDGAR →
  • high

    The company will receive all proceeds from the primary shares; no secondary shares are being sold by insiders.

    The Offering verify on EDGAR →
  • medium

    Net proceeds are earmarked for general corporate purposes, including clinical evaluations of its nPulse Cardiac Catheter and Clamp, commercialization of the Pulse Vybrance system, and regulatory efforts for benign thyroid nodules.

    Use of Proceeds verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 2, 2026 · How we verify