Daily Dilution Report - Mar 2, 2026
All Events
$FMBH (MC: $997M)
- Acquisition: 2,539,879 common shares issued for Two Rivers Financial Group.
- Merger consideration: 1.225 FMBH shares per Two Rivers share.
- Vested awards: Two Rivers' equity awards fully vested upon merger close, potentially contributing to further dilution.
$GYRE (MC: $798M)
- All-stock merger consideration for Cullgen Inc. (~$300M) to include Common Stock & Series B Convertible Preferred Stock.
- Series B Convertible Preferred Stock to be issued, convertible into Common Stock at a 1:5 ratio, subject to ownership limitations.
- Cullgen options & RSUs to convert/settle into GYRE Common Stock; registration rights filed for merger shares, enabling future resale.
$SABR (MC: $466M)
- Shareholder Rights Plan (Poison Pill) adopted as preventative measure.
- Triggers if 15%+ beneficial ownership acquired, potentially leading to rights exercisable for Common Shares at 2x the $7/Right value.
- Board may exchange rights for Common Shares at 1 Common Share per Right.
$NTLA (MC: $1.6B)
- ATM Offering Program amended to $1.035B.
- $400M additional shares available for sale via Jefferies LLC.
- Company pays Jefferies up to 3.0% compensation on proceeds.
$ZYME (MC: $1.7B)
- No direct stock dilution from new share issuance.
- Monetized 30% of future Ziihera royalties for $250M.
- Entered $250M loan agreement, total up to $481.3M payable by maturity.
$MBUU (MC: $559M)
- 1.52M shares issued as stock consideration for acquisition of Saxdor Yachts Oy (~$175M total purchase price).
- Potential for future dilution: Up to ~$84M earnout payable 2026-2028, can be paid in Common Stock.