Pulse Biosciences Launches $85M ATM Program, Replacing $75M Facility
PLSE has more than doubled off its 52-week low of $12.56.
Summary
Pulse Biosciences filed a prospectus supplement for a new $85 million at-the-market equity offering program with Mizuho, replacing its prior $75 million ATM program after selling $68.8 million of stock under it.
Key Events · Financing and Capital Events · PLSE
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New $85M ATM Program Established
A sales agreement with Mizuho was entered into on September 15, 2026, to sell up to $85 million of common stock from time to time at market prices.
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Prior $75M ATM Nearly Exhausted
Under the August 2026 ATM program, 1,379,925 shares were sold for approximately $68.8 million, leaving only $6.2 million unsold before the new program takes effect.
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February 2026 ATM Terminated
The February 2026 ATM program with TD Securities was terminated on September 14, 2026, with approximately $1.0 million remaining unsold.
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Offering Priced at Market
The offering will be sold at prevailing market prices, with the last reported sale price of $54.21 per share on September 14, 2026, used as the reference price for dilution calculations.
Analysis · PLSE · Industrial Applications And Services
A new $85 million at-the-market equity offering program with Mizuho has been established, replacing the $75 million program initiated just five weeks ago on August 6, 2026. Under the prior program, $68.8 million of stock has already been sold, leaving only $6.2 million unsold, and the company is now expanding its capacity to raise capital. This signals continued reliance on equity financing to fund its clinical development programs, including the nPulse Cardiac Catheter and nPulse Cardiac Clamp studies. The offering is priced at $54.21 per share, the last reported sale price on September 14, 2026, and will be sold at market prices over time, creating potential overhang on the stock.
How filings like this one have moved
In the 30 days to Sep 15, 2026, 29.9% of the 1678 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.25%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PLSE was trading at $55.20 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $12.56 to $58.90. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.