Pulse Biosciences Enters $75M At-the-Market Equity Program

What Happened

• Pulse Biosciences, Inc. announced on August 6, 2026 that it entered into an equity distribution agreement with Mizuho Securities USA LLC under which the company may sell, from time to time, up to $75,000,000 of its common stock through an "at-the-market" (ATM) program. Sales will be made under the company’s effective Form S-3 registration (File No. 333-293596, declared effective February 27, 2026) and a prospectus supplement filed August 6, 2026. The company is not obligated to sell any shares and may suspend sales at any time.

Key Details

• Maximum aggregate offering amount: $75,000,000 of common stock.
• Sales agent: Mizuho Securities USA LLC; commission up to 3.0% of gross sales.
• Sales method: "At-the-market" offerings under Rule 415 — including Nasdaq trades, market maker transactions, block trades, or negotiated sales.
• Registration: Issuances will be made pursuant to the company’s effective Form S-3; prospectus supplement filed August 6, 2026.

Why It Matters

• This ATM program gives Pulse Biosciences flexible, on‑demand access to raise capital without a fixed offering, which can help fund operations or strategic needs.
• If shares are sold, existing shareholders could experience dilution; the company will incur selling commissions and related expenses.
• The company retains control — it is not required to sell shares and can suspend the program — so the timing and amount of any dilution depend on future management decisions.