Daily Dilution Report - Apr 1, 2026
All Events
$FSUN (MC: $1.0B)
- Merger resulted in FirstSun common share issuance to First Foundation stockholders (0.16083 ratio per common share).
- First Foundation Series A & C preferred stock converted into FirstSun common shares (0.16083 ratio). Warrants also exercised.
- Authorized common shares increased by 30M (to 80M total); 20M non-voting common shares also authorized.
$GLDD (MC: $1.1B)
- This filing describes a merger where Great Lakes Dredge & Dock Corporation ($GLDD) was acquired by Saltchuk Resources, Inc. The transaction involved a tender offer for all outstanding shares and a subsequent merger. This transaction is a delisting event and a change of control, not a typical stock dilution event where new shares are issued, increasing the total number of shares outstanding in a way that dilutes existing shareholders.
- All the actions described in the filing involve the exchange of existing GLDD shares for cash ($17.00 per share) or the conversion of equity awards into cash payments. No new equity instruments were issued that would dilute existing shareholders' ownership percentage.
$LE (MC: $363M)
- Unregistered Sale of Equity: $300M in LE Topco Class A Units sold to WHP.
$BITF (MC: $1.1B)
- $588M Convertible Senior Notes implies potential future dilution.
- Long-term Incentive Plan and 120M authorized Class A Preferred Stock could lead to future equity issuance.
- Continuing Normal Course Issuer Bid (NCIB) to buyback up to ~49.9M shares for cancellation.
$HYAC (MC: $337M)
- Convertible Preferred Stock: $26M liquidation preference convertible @ ~$18.00/share (~1.44M potential shares).
- PIPE Deal: $167.1M aggregate commitment for PubCo Class A Common Stock & Pre-Funded Common Stock Purchase Warrants.
- Warrants exercisable @ $11.50/share for Class A ordinary shares.
$INFQ (MC: $1.7B)
- Warrants: 10.43M potential shares from Public & Private warrants @ $11.50/share.
- PIPE Financing: Issued 12.65M shares @ $10.00/share for $126.55M.
- Future Dilution: 30.18M shares from assumed stock options + 32.47M shares reserved for 2026 Equity/ESPP plans with annual increases.
$KBDC (MC: $938M)
- ATM Program for up to $150M
- Shares to be sold at prevailing market or negotiated prices
- Offering price not less than net asset value; commissions up to 1.5%
$NCNO (MC: $1.7B)
- Here's an analysis of the provided SEC filing for nCino, Inc. ($NCNO) to extract stock dilution events:
- Stock Dilution Events Found:
- Type of instrument: Accelerated Share Repurchase Agreement
$ALRS (MC: $602M)
- Type of instrument: Subordinated Note Purchase Agreement (and subsequent Modification Agreement)
- Dollar amounts: $50,000,000.00 (initial principal amount)
- Key terms:
$NUAI (MC: $231M)
- Unregistered Sales of Equity Securities: 2.09M shares issued.
- Shares issued to SharonAI, Inc. as part of a purchase agreement.
- Issued under exemption from registration.
$XWIN (MC: $312M)
- Type of instrument: Direct Offering / Registered Direct
- Shares offered: 1,958,000 shares
- Price per share: $3.575 per share
$AMRC (MC: $1.3B)
- The filing details an amendment to a credit agreement, an increase in a term loan, and executive appointments. None of these actions directly result in the issuance of new equity that would dilute existing shareholders.
$ZBIO (MC: $873M)
- $200M Convertible Senior Notes, initial conversion price ~$26.50/share (~11.5M potential shares).
- Public Offering of 5M shares at $20.00/share, raising ~$93.7M net proceeds.
- Underwriter options for $30M additional notes & 750k additional shares at $20.00/share.