Daily Dilution Report - Mar 13, 2026
All Events
$NEWT (MC: $340M)
- ATM program: Up to $50M in Depositary Shares at $25.00/share (2M shares).
- Preferred Stock is not convertible to common; economic/market value dilution cited.
- Equity compensation plan: Up to 3M common shares reserved for future awards.
$CRVS (MC: $1.3B)
- ATM Program for up to $200M (11.8M potential shares at $16.90). Amended to increase from $100M.
- 14.0M shares from outstanding stock options ($4.26 avg exercise price).
- 8.3M shares from outstanding pre-funded warrants ($0.0001 exercise price). Plus 3.4M shares reserved for stock plans.
$CRVS (MC: $1.3B)
- New ATM Program for $200M.
- Amends prior $100M ATM; no shares sold under original.
- Sales via Jefferies LLC (up to 3.0% commission).
$BATL (MC: $370M)
- Common Stock Issuance: 485,000 shares issued.
- Consideration for acquisition of oil & gas assets.
- Shares are restricted with a 60-day lock-up period.
$TIC (MC: $1.7B)
- Warrants: 14.95M warrants outstanding, exercisable into 3.74M shares at $11.50 per share.
- Series A Preferred Stock: 1M shares convertible 1-for-1 into common stock (max 1M shares).
- Dividends on Series A Preferred Stock are payable in variable common stock shares.
$ALEC (MC: $246M)
- New S-3 shelf registration filed for up to $400M in various securities (common, preferred, debt, warrants, etc.) via delayed/continuous offerings.
- Rollover of ~$308.2M in unsold securities from prior S-3 shelf registration, continuing to be offered.
- Company has 200M authorized common shares and 20M authorized convertible preferred shares for future issuance.
$XRN (MC: $459M)
- Common Stock ATM: Up to $288M available for sale via forward agreements to deliver common stock.
- Series B Preferred Stock ATM: Up to $75M available for sale.
- Series A Preferred Stock: 3.1M shares convertible to common stock upon Change of Control (max 5.3419x per share, ~16.58M potential common shares).
- OP/LTIP Units: 8% of Operating Partnership. Potential dilution from additional unit issuance without stockholder consent.
$XRN (MC: $459M)
- ATM Program: Up to $75M 8.00% Series B Preferred Stock and up to $300M Common Stock ($288M remaining).
- Series B Preferred Stock: 2.05M shares outstanding ($25/share liquidation) convertible on Change of Control.
- Series A Preferred Stock: 3.105M shares outstanding ($25/share liquidation) convertible on Change of Control.
$DEC (MC: $1.1B)
- Secondary offering of ~7.5M shares by selling stockholders.
- Company repurchased ~3.75M shares concurrently.
- No new shares issued by company; not a dilutive event.
$RILY (MC: $216M)
- Issued 4.20M common shares via 3(a)(9) exchanges for various Senior Notes.
- Exchanges with DBA Trading, LLC, exempt from registration.
- Approximately $4M in RILYG Senior Notes repurchased and cancelled.