Daily Dilution Report - Feb 27, 2026
All Events
$DRDB (MC: $241M)
- Up to 45M PubCo Class A Ordinary Shares to be issued based on 6 earn-out targets.
- $200M Committed Equity Facility with B. Riley at 97% VWAP post-close.
- New equity plans for up to 12% of PubCo fully-diluted shares, with annual increases.
$DVLT (MC: $202M)
- New Warrants to be issued for up to 9.72M shares @ $5.00/share, exercisable until Feb 2027.
- Active ATM Program with $33.38M remaining capacity.
- Up to $250M shelf registration, plus 11.27M shares from Convertible Notes & 1.05M shares from RSUs/RSAs.
$VIR (MC: $1.3B)
- Underwritten public offering of 17.6M shares at $8.50 (plus 2.6M over-allotment option), raising ~$142M.
- PIPE deal with Astellas for 7.2M shares at $10.36, raising ~$75M.
- New At-the-Market (ATM) program established for up to $300M in common stock.
$PVLA (MC: $1.8B)
- Direct Offering of 1.6M common shares @ $125.00/share, plus underwriters' option for up to 240K additional shares.
- 2.73M shares from outstanding stock options (avg EP: $14.44) & 577.9K shares from recently granted options (avg EP: $82.49).
- 2.46M shares from outstanding pre-funded warrants (EP: $0.001) & 1.31M shares reserved under 2024 Equity Plan.
$MCB (MC: $889M)
- Registered Public Offering: ~$169.3M (net proceeds) for 2.1M shares. Expected to close Feb 27, 2026.
- Underwriters' 30-day option for up to 315K additional shares, potential future dilution.
$LEGT (MC: $284M)
- PIPE: $113.3M capital raise via 12.23M ADSs at ~$9.26/ADS.
- Warrants: 18.35M ADSs issued with the PIPE, exercisable at $10.90/ADS.
- Contingent Warrants & Price Reset: Potential issuance of additional Warrants and exercise price adjustments (down to VWAP or $5.00) based on future conditions.
$VIR (MC: $1.3B)
- Direct Offering: 17.6M shares at $8.50/share for $150M gross proceeds.
- Underwriter's Option: Up to 2.6M additional shares at $8.50/share, for potential $22.5M.
$FIP (MC: $749M)
- The core event described is the issuance of a secured term loan facility, which is debt financing and not a direct issuance of equity that would dilute existing shareholders.
$PVLA (MC: $1.8B)
- Public Offering of 1.6M shares at $125.00/share.
- Includes Greenshoe option for up to 240,000 additional shares.
- Estimated net proceeds $187.3M; closing on or about Feb 27, 2026.
$LRMR (MC: $472M)
- Direct Offering: 20M shares at $5.00/share; underwriters' option for 3M additional shares.
- ATM Program: Up to $100M common stock available for sale (no sales yet).
- Series A Convertible Preferred: 500k shares (potential 5M common shares @ 1:10 ratio).
$BCAX (MC: $920M)
- Firm Shares Offering: 7.175M shares at $16.00/share via Underwriting Agreement.
- Pre-funded Warrants Offering: Up to 2.2M shares issuable upon exercise ($0.0001 exercise price).
- Underwriters' Option: 1.406M shares exercised at $16.00/share.
$PCT (MC: $1.5B)
- Warrants (PCT & Series A) exercise price $11.50/share.
- Warrants redemption trigger price reduced from $18.00 to $14.38/share.
- PCT Warrants expiration extended to June 17, 2026; Series A Warrants extended to March 17, 2027.
$MEC (MC: $436M)
- The filing details a Third Amendment to the Amended and Restated Credit Agreement. This amendment primarily concerns changes to the company's debt facilities, including:
- A decrease in the senior secured revolver commitment size.
- Adjustments to pricing levels based on leverage ratios.
$LOGC (MC: $214M)
- PIPE/Direct Offering: Issued 2.8M common shares to ACP I & II at $8.00/share for $22.3M.
- PIPE/Convert Preferred: BCP Fund purchased 11.1M Class A Convertible Preferred Units for $89.25M ($8.00/unit), convertible to common stock.
- Rights Offering: Issued 429.5K common shares to subscribers for $3.44M ($8.00/share).
$TYGO (MC: $306M)
- Direct Offering of 5M shares at $3.00/share for $15M gross proceeds.
- Closing expected Feb 24, 2026. Proceeds for general corp & working capital.
- Company agreed not to effect Variable Rate Transactions for 6 months.