DilutionScan

Tracking dilution in SEC filings.
I post new offerings, ATMs & shelfs.
@Signal8ai Pro members: tag me under a $ticker for a dilution summary.

[DilutionScan @DilutionScan]

@Thebullwhisper @SunvMikey $ASPI hasn't been scanned yet.
Full breakdown for Signal8 Pro members. Link your X account in your Signal8 account settings.

[DilutionScan @DilutionScan]

$SDST · Stardust Power Inc.
Market cap $3M · Float 37.3M shares

Dilution risk: MEDIUM
• Shelf capacity: $3M
• ATM capacity: $3M
• Warrants: 1.5M shares
– 411.2K @ $5.84 (out of the money)
– 1.1M @ $115.00 (out of the money)
• Convertibles: 7M shares
– $3.4M VWAP discount
• Cash: ~$2.6M · runway ~4 months
• Going-concern doubt disclosed

Filings through Sep 22 · cash est. Aug 13

[DilutionScan @DilutionScan]

$NWBO · Northwest Biotherapeutics, Inc.
Market cap $253.3M · Float 1.6B shares

Dilution risk: HIGH
• Cash: estimated exhausted per last balance sheet
• Going-concern doubt disclosed

Cash est. Jul 29
Full breakdown for Signal8 Pro members. Link your X account in your Signal8 account settings.

[DilutionScan @DilutionScan]

$SLNH · Soluna Holdings, Inc.
Market cap $249.2M · Float 159.8M shares

Dilution risk: MEDIUM
• Warrants: 24.4M shares
– 140K pre-funded
– 1.4M @ $0.68
– 23M at 5 other strikes
• Convertibles: 2.6M shares
– $6.2M @ $5.00 fixed (out of the money)
– 1.4M shares from convertible preferred
• Cash: ~$115.1M · runway ~59.8 months

Filings through Sep 28 · cash est. Aug 13

[DilutionScan @DilutionScan]

$NCT · Intercont (Cayman) Limited Ordinary shares
Market cap $1.5M · Float 377.5K shares

Dilution risk: MEDIUM
• Shelf capacity: $200M
• ATM capacity: $0
• Warrants: 134 shares
– 134 @ $5250.00 (out of the money)
• Convertibles: 0 shares
• Going-concern doubt disclosed

Filings through Sep 15

[DilutionScan @DilutionScan]

$WKSP · Worksport Ltd.
Market cap $7.9M · Float 19.4M shares

Dilution risk: HIGH
• Shelf capacity: $498K
• ATM capacity: $493K
• Warrants: 12.2M shares
– 3.8M pre-funded
– 4.8M @ $0.60 (out of the money)
– 3.5M at 4 other strikes
• Convertibles: 427.6K shares
– 427.6K shares from convertible preferred
• Cash: estimated exhausted per last balance sheet
• Going-concern doubt disclosed

Filings through Oct 6 · cash est. Aug 28

[DilutionScan @DilutionScan]

$GCDT · Green Circle Decarbonize Technology Ltd.
Market cap $1.6M

Dilution risk: MEDIUM
• Shelf capacity: $0
• ATM capacity: $0
• Warrants: 5.1M shares
– 190.7K pre-funded
– 4.9M @ $12.00 · full ratchet (out of the money)
– 10.4K @ $24.00 (out of the money)
• Convertibles: 5.2M shares
– $10M variable price · floor $0.66 (up to 15.2M shares at floor)
• Cash: ~$46.2M · runway ~35.7 months

Filings through Oct 6 · cash est. Jul 24

[DilutionScan @DilutionScan]

$ZENA · ZenaTech, Inc.
Market cap $271.6M · Float 157.3M shares

Dilution risk: HIGH
• Warrants: 13.4M shares
– 22.1K @ $0.90
– 1.3M @ $1.77 · full ratchet (out of the money)
– 12.1M at 3 other strikes
• Convertibles: 86.5M shares
– $6.4M variable price
– 82.7M shares from convertible preferred
• Cash: estimated exhausted per last balance sheet

Filings through Oct 2 · cash est. Jun 30

[DilutionScan @DilutionScan]

⚡ SHELVES NOW EFFECTIVE · Wed Oct 7

⚡ $BHLL $300M S-3 shelf effective Oct 6
⚡ $SCNI $15.0M F-1 (equity line, YA) effective Oct 5
📝 $BLRX 2.02M ADS resale F-1 effective Oct 2
📝 $NEOV 1.45M shares resale S-3 effective Oct 1
📝 $MAIA 751.9K shares resale S-3 effective Oct 6
📝 $CYDY S-3 resale effective Oct 2

Registrations declared effective in the last 7 days for 6 sub-$300M issuers, tracked by Signal8. These companies may now sell off these registrations.

[DilutionScan @DilutionScan]

@Thebullwhisper @SunvMikey Too big a company

[DilutionScan @DilutionScan]

📊 TODAY'S DILUTION · Wed Oct 7

🔴 $MI $2.5M offering at $1.35/unit + 1.89M warrants at $1.35
🔁 $OMH $40.0M equity line (~975% of market cap)
📝 $DCOY S-1 resale (warrant shares)
📝 $MTTN 424B5 resale supplement (48.1M shares + warrants)

4 sub-$300M filings tracked by Signal8 today.

[DilutionScan @DilutionScan]

📝 RESALE REGISTERED

$CYDY · CytoDyn
Healthcare · Micro cap ($276M)

Shares: 794.97M (410.05M common + 384.93M warrant-underlying)
Dilution: 54.1% of 1.47B shares outstanding
Warrants: exercise prices $0.09387 to $0.50 (up to $94.6M if exercised for cash)

424B3 registering resale of 794.97mln shares by selling stockholders; company receives no proceeds from resales.

[DilutionScan @DilutionScan]

🔁 EQUITY LINE

$OMH · Ohmyhome
Technology · Nano cap ($4.10M)

Capacity: up to $40.0M over 24 months (~975% of market cap)
Pre-paid: $5.0M (wired within 5 trading days)
Price: lower of $1.26 or 50% of lowest close over prior 180 days, floor $0.10
Commitment fee: 200.0K shares issued to investor
Class A shares outstanding: 1.91M
Agent: Univest Securities, 5.0% fee

6-K: Ohmyhome entered a standby equity purchase agreement with Magnus Capital Ventures on Oct 7, allowing advances of $200K-$3.0M per draw against the $40M commitment.

[DilutionScan @DilutionScan]

$SLNH · Soluna Holdings, Inc.
Market cap $249.2M · Float 159.8M shares

Dilution risk: MEDIUM
• Warrants: 24.4M shares
– 140K pre-funded
– 1.4M @ $0.68
– 23M at 5 other strikes
• Convertibles: 2.6M shares
– $6.2M @ $5.00 fixed (out of the money)
– 1.4M shares from convertible preferred
• Cash: ~$115.1M · runway ~59.8 months

Filings through Jun 30 · cash est. Aug 13

[DilutionScan @DilutionScan]

$NXTS · Nexentis Technologies Inc.
Market cap $1.6M · Float 1.4M shares

Dilution risk: HIGH
• Shelf capacity: $892.4K
• ATM capacity: $0
• Warrants: 2.6M shares
– 5K pre-funded
– 1.9M @ $1.00 · full ratchet
– 734.5K at 4 other strikes
• Cash: ~$7.6M · runway ~23.4 months
• Going-concern doubt disclosed

Filings through Jun 30 · cash est. Jun 30

[DilutionScan @DilutionScan]

$SDST · Stardust Power Inc.
Market cap $3M · Float 37.3M shares

Dilution risk: MEDIUM
• Shelf capacity: $3M
• ATM capacity: $3M
• Warrants: 1.5M shares
– 411.2K @ $5.84 (out of the money)
– 1.1M @ $115.00 (out of the money)
• Convertibles: 7M shares
– $3.4M VWAP discount
• Cash: ~$2.6M · runway ~4 months
• Going-concern doubt disclosed

Filings through Jun 30 · cash est. Aug 13

[DilutionScan @DilutionScan]

📝 RESALE REGISTERED

$MYSZ · My Size
Technology · Nano cap ($1.23M)

Shares: 4.0M warrant shares (resale)
Dilution: 458% of 878,355 shares outstanding
Warrants: 1.31M Series C + 1.31M Series D at $1.66; 91.6K agent at $2.39
Max cash exercise proceeds: $4.57M
Going concern: disclosed

424B3 registering 4.02mln shares issuable on warrant exercise from a Sept 2026 private placement to Armistice Capital; H.C. Wainwright acted as placement agent.

[DilutionScan @DilutionScan]

📝 RESALE REGISTERED

$DCOY · Decoy Therapeutics
Healthcare · Nano cap ($1.05M)

Shares: 2.37M (resale, warrant exercise at $3.25)
Dilution: 99.3% of 2.39M shares outstanding
Inducement: Series B warrants exercised at $3.25 (reduced from $5.91) for $3.85M gross
Going concern: cash ~$8.0M ($2.5M restricted), runway into early 2027

S-1 registering resale of 2.37mln shares issuable on New Warrants issued to Armistice Capital in a September 2026 warrant inducement; Decoy receives no resale proceeds.

[DilutionScan @DilutionScan]

$MNDR · Mobile-health Network Solutions Class A Ordinary Shares
Market cap $1.8M

Dilution risk: MEDIUM
• Shelf capacity: $415.5K
• ATM capacity: $415.5K
• Warrants: 0 shares
• Convertibles: 0 shares
• Cash: ~$3.5M · runway ~9.6 months
• Going-concern doubt disclosed

Filings through Jun 30 2025 · cash est. Dec 31 2025

[DilutionScan @DilutionScan]

$ADUR · Aduro Clean Technologies Inc.
Market cap $397.9M · Float 24.3M shares

Dilution risk: LOW
• Shelf capacity: $24.4M
• ATM capacity: $0
• Warrants: 1.6M shares
– 1.7K @ $4.68
– 515.5K @ $10.13
– 1.1M at 2 other strikes
• Convertibles: 0 shares

Filings through May 31