Daily Dilution Report - Apr 3, 2026
All Events
$BYND (MC: $270M)
- Stock Compensation: 10M shares reserved for 2026 Employment Inducement Equity Incentive Plan.
- Awards for new or rehired employees as inducement.
- Adopted by board without stockholder approval (Nasdaq Rule 5635(c)(4)).
$ORKA (MC: $2.0B)
- Shelf S-3 filed for potential $4.0B offering in common, preferred, depositary shares, & warrants.
- Filing enables ATM programs, direct offerings, and future warrant issuances.
- Series B Preferred Stock (137,138 shares) convertible to ~11.4M common shares.
$KYTX (MC: $388M)
- ATM program for up to $100M in common stock sales.
- Over 8M shares reserved for various equity incentive and employee stock purchase plans.
- ~9.3M shares issuable from options @ avg $4.77/share, plus ~1.3M from RSUs.
$MACI (MC: $234M)
- Convertible Note: $3.6M increased principal amount via Third Amendment to Everli Note.
- Convertible Note: $3.6M increased principal amount via Third Amendment to Sponsor Note.
$ESPR (MC: $543M)
- Here's an analysis of the provided SEC filing for Esperion Therapeutics, Inc. ($ESPR) to extract stock dilution events.
- Analysis of Dilution Instruments:
- The transactions described involve debt financing ($25,000,000 in term loans) and a sale of future royalty streams ($50,000,000), which do not immediately dilute existing shareholders by issuing new equity. The acquisition of Corstasis Therapeutics Inc. was financed by cash and potential future milestone/royalty payments, not by issuing ESPR stock.
$IPI (MC: $587M)
- The filing primarily discusses:
- An amendment to their credit agreement, extending the maturity date and modifying terms. This is a debt-related event, not a dilution event.
- The sale of the "Intrepid South Ranch" assets. This is an asset disposition, which might indirectly impact share value but is not a direct stock dilution event in the context of issuing new shares or convertible securities.
$SMC (MC: $369M)
- Direct Offering/PIPE deal: $42M from Tall Oak Midstream.
- Issued 1,351,351 shares at $31.08/share.
- Shares subject to 6-month lock-up; registration for resale intended.