We read SEC filings so you don't have to. Search any US-listed stock and get a full dilution breakdown — warrants, convertible notes, ATM programs, shelf registrations, cash runway, and float risk — all extracted from primary sources.
Here's what a Dilutracker report looks like
DNA has a strong liquidity position with ~27 months runway and $380M cash but carries high dilution potential from its active $500M shelf registration and $80.5M ATM. Long runway reduces immediate pressure, though the extensive offering infrastructure remains a key risk driver.
AI-generated risk assessment based on SEC filings
Quarterly outstanding shares with fully diluted potential
Burning ~$14.3M/month with estimated current cash of $395M and ~27 months runway
Instruments identified from SEC filings
$500M universal shelf for Class A common stock, preferred stock, warrants, and units. Includes $400M unsold securities carried over from prior registration 333-267743 pursuant to Rule 415(a)(6).
$500M universal shelf. $400M unsold portion later carried into 333-289390 under Rule 415(a)(6).
Resale of up to 471,426 shares of Class A common stock by selling securityholders.
Registration for resale of up to 132,092 shares of Class A common stock by selling securityholders.
Registration for resale of up to 181,986 shares of Class A common stock by selling securityholders.
$100M ATM facility. Cumulative gross draws ~$19.5M (1,940,550 shares issued). Remaining capacity $80.5M.
Unpaid principal balance $9.7M (fair value $0.5M) as of 12/31/2025. No conversion terms or maturity details disclosed.
Assumed in SRNG merger. Each warrant represents 1/40th of one share post-split. Exercise price $460 post-split. No value as of 12/31/2025.
Identical to public warrants except exercisable on cashless basis and non-redeemable while held by initial purchasers.
Up to ~5M shares subject to $500-$800 post-split price thresholds. ~1.3M earned as of 12/31/2025. Nonvested balance 551,277 shares.
Seller to contribute 100% of equity interests of Biosecurity segment in exchange for newly issued common stock representing ~20% of fully diluted shares. Subject to closing conditions.
Stock Screener
Filter by overall risk, offering ability, float size, cash runway, and more. Stop digging through filings manually.
Filter and discover stocks by dilution risk factors
Dilution Tracking API
REST API with 9 endpoints covering dilution instruments, float history, cash runway, and SEC filings. Connect to your LLM, power a dashboard, or feed a trading system.
Connect to ChatGPT, Claude, or any LLM. Ask which tickers have the most warrant exposure, query cash runway, or build custom analysis.
Power internal tools, client dashboards, or trading systems. Structured JSON for every dilution vector we track.
Features
Four scores per ticker: overall dilution risk, offering ability, cash need, and float risk.
See the true float and how much it could grow if every dilutive instrument converts.
How many months of cash does the company have? Identify raise-or-die moments before they happen.
We parse 10-Ks, 10-Qs, 8-Ks, S-1s, and shelf registrations. You get the summary.
Every outstanding warrant, its strike price, and its expiration. Know the overhang.
Track convertible debt that could become shares at any time. See the terms, not just the existence.
Pricing
One subscription, full access. Every plan includes both the web platform and API access.
For systematic traders
For quantitative investors
For investment banks & funds
FAQ
When a company issues new shares, your ownership percentage shrinks. This happens through offerings, warrant exercises, convertible note conversions, and ATM programs.
Warrants give the holder the right to buy new shares at a set price before an expiration date. When exercised, the company issues new shares — increasing the float and diluting existing shareholders. Some warrants include cashless exercise provisions, meaning shares are issued without the company receiving any cash.
A convertible note is debt that can be converted into shares instead of being repaid in cash. The conversion price determines how many shares the holder receives. Notes with floating conversion prices — especially those set at a discount to market — can result in severe dilution as the share price drops, sometimes called "toxic converts."
An at-the-market (ATM) program lets a company sell shares directly into the open market at current prices through a broker. Unlike a traditional offering, there's no announcement per sale — shares just quietly enter the float over time. Companies with low cash runway often use ATMs to raise capital without a formal offering.
Float is the number of shares available for public trading — calculated as shares outstanding minus insider holdings, plus any post-filing issuances. A small float means even modest selling pressure can move the price. Float risk measures how much the float could expand from warrants, convertible notes, and other pending share issuances.
Cash runway is how long a company can operate before running out of money — calculated by dividing balance sheet cash by the monthly burn rate. Short runway (under 6 months) is a strong signal that dilution is coming, because the company will need to raise capital through offerings, ATMs, or drawing on equity lines.
A tool that reads SEC filings and surfaces every way a company can issue new shares — warrants, converts, ATMs, shelf registrations — so you see the risk before the shares hit the market.
Directly from SEC EDGAR. We parse 10-Ks, 10-Qs, 8-Ks, S-1s, and shelf registrations. AI extracts the dilution-relevant data and synthesizes it into a report.
Prices update in real time. Filing data is processed within 24 hours of a company filing with the SEC.
US-listed stocks. Search any ticker and we'll generate a report if SEC data is available.
No. Dilutracker is a data tool. Do your own research and talk to a financial advisor before making investment decisions.