Daily Dilution Report - Feb 12, 2026
All Events
$CTAA
- Founder Shares: 5.75M Class B ordinary shares issued at ~$0.005/share (up to 0.75M shares subject to forfeiture).
- Private Placement: 350K private units purchased at $10.00/unit.
$BCHT (MC: $79M)
- Direct Offering: 4.46M shares at $3.36/share, plus 0.67M shares for overallotment.
- Equity Plans: 1.07M shares from outstanding options (~$3.43 avg) & 1.52M shares reserved for 2017 Equity Incentive Plan.
$FVCB (MC: $283M)
- No direct stock dilution events reported.
- Senior Unsecured Notes issued are not convertible into common stock.
$FDP (MC: $1.9B)
- No direct stock dilution events (warrants, convert notes, ATM, etc.) reported.
$ASBP (MC: $4M)
- Convertible Preferred Stock offering: Up to $21M from 13,750 initial + up to 12,500 additional Series A Preferred shares.
- Variable conversion price (80% of 5-day lowest close, >= Floor Price).
- $943.8K debt converted to Series A Preferred. Shareholder approval for issuance, reverse split, authorized shares increase.
$ONDS (MC: $3.8B)
- The filing primarily discusses the resale of shares by certain stockholders that were acquired in connection with a previous acquisition. These shares were already issued and outstanding, and their resale by existing stockholders does not represent a *new* issuance of equity by Ondas Inc. that would dilute existing shareholders.
- Therefore, the output is:
- NONE
$TGNT (MC: $3M)
- Equity issuance for acqui-hire of Aetherium Medical team/assets.
- Will issue 10% of outstanding common stock, no cash consideration.
$CTGO (MC: $341M)
- Registered Direct Offering of 1.68M shares at $24.96/share.
- Pre-funded warrants for up to 325K shares, effective price $24.96/share.
$INDP (MC: $3M)
- Warrants covering ~1.68M shares repriced to $1.75/share, significantly lower than previous exercise prices ($8.30-$47.60).
$SDST (MC: $30M)
- New Equity Line of Credit: up to $10M for up to 2M shares.
- Significant outstanding warrants for ~2.57M shares at various exercise prices.
- Future dilution from 345K shares reserved for equity plan, 600K earnout shares, and 50K royalty shares.
$RCL (MC: $91.0B)
- Convertible Notes
- Key Term: 6.00% convertible notes due 2025
- Status: Settled (mentioned in relation to inducement expense for settlements)
- Inducement Expense: $10,000,000 (for 2025), $119,000,000 (for 2024)
- Principal Amount: Not specified in the filing
- Conversion Price: Not specified in the filing
- Number of Shares: Not specified in the filing
- Maturity: 2025
$CTGO (MC: $356M)
- Direct Offering of 1.68M common shares at $24.96/share.
- Pre-funded Warrants for 325K shares, exercisable at $0.01/share.
- Existing Warrants for 678.8K shares at $27.84 average exercise price.
$VRME (MC: $13M)
- Merger with Open World Ltd: existing shareholders expected to retain ~10% of post-merger shares.
- Open World SAFEs & options converting to company common stock/options.
- Accelerated vesting of ~899K Restricted Stock Awards/Units.
$ONCO (MC: $1M)
- $125M Equity Line of Credit established.
- Significant share issuance for acquisition: up to 90% of fully diluted shares for seller.
- Existing convertible securities & preferred stock to convert to common stock.
$STX (MC: $88.8B)
- $600M Convertible Notes exchanged for cash & ordinary shares.
- New shares issued to noteholders (exact count TBD), diluting existing shareholders.
$TECTP (MC: $40M)
- Type of instrument: Subordinated Notes
- Principal Amount: $40,000,000
- Interest Rate: 7.25% Fixed-to-Floating Rate
- Maturity Date: February 15, 2036
- Issuance Price: 100% of face amount
- Purpose of Proceeds: General corporate purposes, including refinancing existing indebtedness and preferred stock.
- Key Terms: Issued to institutional accredited investors and qualified institutional buyers in a private placement. These notes are subordinated and intended to qualify as Tier 2 capital. They are not directly convertible into equity, but the stated use of proceeds to "refinance existing indebtedness and preferred stock" implies that the capital raised might indirectly lead to the extinguishment of other obligations that *could* have led to dilution, or that the refinancing itself could be structured in a way that affects the capital structure. However, the Notes themselves do not represent a direct issuance of equity or a future obligation to issue equity.
- Analysis of other potential dilution instruments:
- Warrants: No mention of warrants.
- Convertible Notes: The instrument described is a subordinated note, not a convertible note.
- Convertible Preferred Stock: No mention of convertible preferred stock being issued in this filing. The filing mentions refinancing "preferred stock," implying existing preferred stock, not the issuance of new convertible preferred stock as a dilution event in this filing.
- ATM (At-the-Market) Programs: No mention of an ATM program.
- (+4 more items; see filing)
$VNDA (MC: $439M)
- $200M mixed shelf registration filed for future offerings.
- Potential At-the-Market (ATM) offerings up to $200M.
$CLRS
- Initial Public Offering (IPO): 13M shares of Class A Common Stock @ $26-$28/share.
- Convertible Preferred Stock: ~93.65M shares converting to Class A Common Stock upon IPO.
- Employee Equity: ~50.4M shares from outstanding options & RSUs.
$AQB (MC: $3M)
- Registered Direct Offering: 1.27M shares @ $0.86/share.
- Pre-funded Warrants: 67.7K warrants @ $0.859 (exercise $0.001/share, for ~67.7K shares).
- $350M mixed shelf registration filed for future offerings.
$AQB (MC: $3M)
- Registered Direct Offering: 1.27M shares @ $0.86/share.
- Pre-funded Warrants: 67.7K warrants @ $0.859 (exercise $0.001/share, for ~67.7K shares).
- $350M mixed shelf registration filed for future offerings.
$AX (MC: $5.4B)
- The filing details a purchase and assumption agreement for consumer deposits, which is an asset acquisition and does not involve the issuance of new equity that would dilute existing shareholders.
$ALKS (MC: $5.8B)
- Type of instrument: Contingent Value Rights (CVRs)
- Dollar amounts: $1.50 per Avadel Share (potential additional cash payment)
- Share counts: For each Avadel Share subject to a cancelled Avadel Option or Avadel RSU Award.
- Key terms: Non-transferable, contractual right to receive a potential additional cash payment upon achievement of a milestone prior to a specified expiration date, as per the CVR Agreement. Issued to holders of Avadel Shares and converted from Avadel Options and Avadel RSU Awards.
- Type of instrument: Conversion of Avadel Options (Avadel Cash-Out Options)
- Dollar amounts: The product of (x) the total number of Avadel Shares subject to such Avadel Cash-Out Option and (y) the excess of the Cash Consideration ($21.00) over the applicable exercise price per Avadel Share.
- Share counts: Total number of Avadel Shares subject to such Avadel Cash-Out Option.
- Key terms: Cancelled and converted into the right to receive cash and CVRs.
- Type of instrument: Conversion of Avadel Restricted Share Units (Avadel RSU Awards)
- Dollar amounts: The product of (x) the total number of Avadel Shares subject to such Avadel RSU Award and (y) the Cash Consideration ($21.00).
- Share counts: Total number of Avadel Shares subject to such Avadel RSU Award.
- Key terms: Cancelled and converted into the right to receive cash and CVRs.
- (+13 more items; see filing)
$STI (MC: $17M)
- New S-1 filing proposes an offering of up to 4.3M potential shares (2M common, 2M pre-funded warrants, 0.3M over-allotment), with common shares at an assumed $6.30/share.
- Significant dilution in Oct-Dec 2025: 3.45M shares issued from Series C/D warrants conversion; 0.45M earn-out shares; 0.345M & 0.24M shares issued via equity placements.
$TRU (MC: $14.0B)
- The filing primarily discusses an amendment to the company's credit agreement to establish incremental revolving credit commitments. This is a debt financing event and does not directly dilute existing shareholders' equity.
- Therefore, the output is:
- NONE
$QCLS (MC: $7M)
- Shelf Registration for $100M in various securities (common, preferred, debt, warrants).
- Multiple outstanding convertible preferred stock series (D, G, H) totaling 84,915 shares.
$SHPH (MC: $1M)
- S-1/A Offering: up to 2.2M common shares or pre-funded warrants (~$1.57/share, pre-fund exercise $0.001).
- Convert. Notes: Alto $4.3M (variable conversion) + warrants; Sr. Secured $831.6K + warrants.
- Prior private placements issued common & pre-funded warrants (many exercised). 4.4M shares reserved for future plans.
$MZYX
- IPO of 25M units (Class A shares + 6.25M warrants), with 3.75M unit over-allotment option.
- Private Placement: 3.5M warrants @ $11.50 exercise.
- Founder Shares: 7.19M Class B shares (convert to Class A, 20% post-combo).
- Potential $1.5M working capital loans convertible to warrants. Non-binding $50M forward purchase agreement.
$ZSPC (MC: $7M)
- ELOC (Tumim): up to $30M, 5M shares registered for resale.
- Convert. Note (3i): $8.7M o/s, variable conversion (floor $0.60), 7.5M shares registered for resale.
- 5.9M outstanding options, 1.3M unvested RSUs, 895.4K shares reserved for future plans.
$HCWB (MC: $2M)
- Direct Offering: up to 9.5M common shares or pre-funded warrants (~$1.05/share, pre-fund exercise $0.0001).
- Equity Line of Credit (ELOC) up to $40M total commitment.
- New warrants for 3M shares @ $2.41 exercise from inducement transaction. Various convertible notes.
$FIGR (MC: $6.2B)
- Current offering of Series A Blockchain Common Stock, convertible to Class A common.
- Significant outstanding options (~35.3M shares) & RSUs (~11.5M shares).
- New Incentive Plan (23M initial + 5% annual auto-increase) & ESPP (2.1M initial + 1% annual auto-increase).
$EPM (MC: $148M)
- New ATM Program for up to $30M.
- Stock Compensation: 2.1M shares reserved for LTIP & 241.6K unvested performance units.
$GLTO (MC: $35M)
- Direct Offering: 14.5M shares @ $19.00/share, plus underwriters' option for 2.2M shares.
- New ATM program for up to $150M.
- Convertible Preferred: Series A, B, C (~18.3M potential shares). Warrants for 628.3K shares @ $23.01.
$ASTS (MC: $28.9B)
- New $1B (+$150M option) Convertible Senior Notes (due 2036) via concurrent offerings.
- Existing Convert. Notes: ~$1.7B principal (~21.8M potential shares).
- Active ATM program with ~$80M remaining. Various warrants (~4.7M shares Ligado), redeemable units (89.4M shares potential), stock compensation (13.2M shares), and potential shares for future payments/acquisition (~$134.5M total).
$ASTS (MC: $28.9B)
- New $1B (+$150M option) Convertible Senior Notes (due 2036) via concurrent offerings.
- Existing Convert. Notes: ~$1.7B principal (~21.8M potential shares).
- Active ATM program with ~$80M remaining. Various warrants (~4.7M shares Ligado), redeemable units (89.4M shares potential), stock compensation (13.2M shares), and potential shares for future payments/acquisition (~$134.5M total).
$XLO (MC: $28M)
- ATM Program: Reduced aggregate offering to $9.5M (from original $50M).
$CMS (MC: $22.7B)
- ATM Program: $1B authorized. ~$507.7M (7.1M shares) sold, ~$492.3M remaining.
$EPM (MC: $148M)
- New ATM Program for up to $30M.
- Stock Compensation: 2.1M shares reserved for LTIP & 241.6K unvested performance units.
$GLTO (MC: $35M)
- Direct Offering: 14.5M shares @ $19.00/share, plus underwriters' option for 2.2M shares.
- New ATM program for up to $150M.
- Convertible Preferred: Series A, B, C (~18.3M potential shares). Warrants for 628.3K shares @ $23.01.
$ERNA (MC: $2M)
- Public Offering: 19M common shares + warrants @ $0.50/unit.
- 2M pre-funded warrants + warrants @ $0.49/unit (pre-fund exercise $0.01).
- 231.6K common shares issued to placement agent.
$AQMS (MC: $13M)
- Proposed acquisition includes $25.8M in equity (common stock & Series X Pfd Stk, capped at 45% o/s).
- Potential earn-out up to $65M in common stock or other equity, contingent on future performance.
$AREB (MC: $268,180)
- Convertible Preferred Stock Series D converted for 400K common shares.
- Reverse split (1-for-20) led to 5.9M common shares issued due to rounding.
$ENTA (MC: $331M)
- $150M aggregate shelf offering for future equity/debt issuance.
- 71M common shares & 3M preferred shares available for future issuance, incl. via ATM/direct offerings.
$DFNS (MC: $1.3B)
- Warrant (Star 26): 12.02M shares @ $1.50. Direct issuance of 4.77M shares for acquisition.
- Convertible Note (Nimbus): $3.25M convertible @ $2.00/share (~1.63M potential shares).
- Convertible Preferred (Series A): $10M liquidation pref convertible @ ~$4.72/share (~2.12M potential shares).
- Equity Line of Credit up to $250M; Public/Private Warrants for ~0.84M shares @ $11.50.
- Common Warrants for ~3.19M shares @ $5.405. 3.95M shares for 2025 Stock Compensation.
$GSUI
- Continuous issuance of Shares in "Baskets" for SUI or cash, diluting existing beneficial interest.
- Historical sales of 212,900 Shares to accredited investors.
$NTST (MC: $1.6B)
- Direct Offering (Forward Sale): 8.75M shares (up to 10.06M if option exercised).
- ATM Programs: ~11.1M shares through new & existing forward sale agreements.
- Convertible OP Units for ~0.41M shares; ~4.58M shares for stock compensation outstanding/reserved.
$QH (MC: $86M)
- Registered Direct Offering: 20M ADSs @ $0.494/ADS for $9.88M.
- New At-the-Market (ATM) Program: Up to $50M.
$IMDX (MC: $164M)
- Direct Offering of 3.48M shares @ $5.75/share.
- Pre-funded Warrants for 1.04M shares @ effective $5.75/share.
- Additional ~0.76M shares from outstanding warrants & ~3.7M from stock options/RSUs.
$GAIN (MC: $556M)
- $100M 7.125% Senior Secured Notes due 2031 debt offering.
- Underwriters' option for additional $15M in notes.
$IGTA (MC: $36M)
- Redeemable Warrants exercisable @ $11.50/share.
- Rights for 1/10 share; Trust extension mechanism may impact value.
$TRNR (MC: $586,643)
- $13M Class A Incremental Convertible Notes convertible @ ~$0.45/share (~28.8M potential shares), maturing Feb 2027.
- Class A Warrants for ~0.84M shares @ ~$0.69/share.
- Stockholder approval for up to 10.2M shares for note conversions, 0.68M for warrant exercises.
$NBHC (MC: $1.6B)
- The filing primarily concerns the issuance and sale of subordinated notes. While these are debt instruments, their structure and characteristics do not represent direct stock dilution events as defined by the typical instruments you've listed (warrants, convertible notes, etc.). Subordinated notes are a form of debt financing and do not inherently dilute existing common stock equity.
- Therefore, based solely on the provided document:
- NONE
$CIFR (MC: $6.4B)
- The filing describes a Senior Secured Notes Offering where Black Pearl Compute LLC, a subsidiary of Cipher Mining Inc., issued $2,000,000,000 aggregate principal amount of 6.125% Senior Secured Notes due 2031. This is a debt offering, not an equity issuance that would directly dilute common stock ownership. The proceeds are intended to finance a data center, reimburse prior equity contributions, fund reserves, and pay fees.
- While this debt issuance *could* indirectly impact the company's financial health and future equity-raising capacity, it does not represent a direct dilution event in the form of issuing new shares or options that common stockholders would need to be aware of from this filing alone.
- Therefore, the output is:
- NONE
$DAIC (MC: $8M)
- Warrants exercisable @ $11.50/share.
- Facing Nasdaq delisting for minimum bid price, market value of listed/publicly held securities.
$NRGV (MC: $681M)
- $65M in Convertible Notes outstanding, amended & restated for flexibility.
$EVRG (MC: $18.3B)
- The filing primarily describes the entry into a new $500 million unsecured Term Loan Credit Agreement and the termination of a prior term loan facility. These are debt financing arrangements and do not involve the issuance of new equity that would dilute existing shareholders.
- Therefore, the output is:
- NONE
$MCHP (MC: $43.7B)
- $900M Convertible Notes convertible @ ~$104.17/share (~8.6M potential shares).
- Capped calls entered to reduce potential dilution upon conversion.