DilutionScan

Trading small caps? Know the dilution. DilutionScan reads the SEC filings so you don't have to: • Every warrant, convertible, ATM and shelf, linked to the filing it came from • Dilution ratings: overall risk, offering ability, overhead supply, history and cash need • A dilution screener across every company we cover • A live filings feed showing what changed in each filing • Cash position and runway from the latest 10-Q/10-K • Float and shares outstanding, measured from SEC filings • Upcoming reverse splits Available on web, iOS and Android. Links below 👇

🔴 OFFERING PRICED $GPUS · Hyperscale Data Technology · Nano cap ($19.4M) Raise: $15.0M gross (77% of market cap) Notes: $16.2M principal, 8% coupon, 7.5% OID, matures Feb 5, 2027 Converts: floor $0.1025 or lower of $0.30 / 10% discount to 5-day VWAP NYSE cap: 47.2M shares pending stockholder approval; full conversion ~158.2M vs 236.0M Class A outstanding Default rate: 18% if stockholder approval not obtained 424B5: single institutional investor; 8% convertible notes issued for working capital; failure to obtain stockholder approval is itself an event of default.

🗳️ REVERSE SPLIT VOTE $MGRX · Mangoceuticals Healthcare · Nano cap ($4.33M) Ratio: 1-for-2 to 1-for-25 (board discretion through Dec 30, 2027) CEO options repriced: $0.45 (from as high as $16.50, March 2026) Plan shares remaining: 102,672 (pre-split) Officers/directors ownership: 24.2% PRE 14A for Dec 30, 2026 combined 2025/2026 annual meeting asks stockholders to approve a reverse split of the Certificate of Formation; board may execute any ratio in the range through December 30, 2027.

🗳️ SHARE INCREASE VOTE $WRAP · Wrap Technologies Technology · Micro cap ($80.0M) Authorised: 200.0M -> 300.0M common shares Series C Preferred: converts at $1.40, full-ratchet anti-dilution, 8% dividend (compounding monthly, rises to 20% on triggering events) Dilution: Series C conversion could equal or exceed 20% of shares outstanding CEO ownership: 28.5% (Scot Cohen, also Chairman/CFO/PAO) DEF 14A for Dec 11, 2026 virtual annual meeting asks stockholders to approve a 100M-share authorized increase and Nasdaq Rule 5635(d) issuance of Series C Preferred shares exchanged from Series A at $1.40/share.

🗳️ REVERSE SPLIT VOTE $FFAI · Faraday Future Intelligent Electric Technology · Nano cap ($1.85M) Ratio: up to 1-for-80 Prior split: 150:1 (effective July 24, 2026) Post-split shares (at 1-for-80): ~161.8K Class A Delisting deadline: Nov 25, 2026 (bid price below $1.00 since Oct 16) Meeting: Dec 15, 2026 PRE 14A: stockholders to vote on a reverse split of up to 1-for-80 to regain Nasdaq $1.00 minimum bid compliance; Series A Preferred (500M votes mirroring common) effectively assures passage; proxy warns failure may result in bankruptcy.

🔒 PRIVATE PLACEMENT $SILO · Silo Pharma Healthcare · Nano cap ($2.53M) Raise: $1.1M gross (43% of market cap) Shares: 136.0K at $1.50 + 430.7K pre-funded warrants at $1.4999 ($0.0001 exercise) Net: ~$815K after fees Dilution: 566.7K shares vs 1.90M outstanding (30% of shares outstanding) 8-K Items 1.01/3.02: securities purchase agreements signed Nov 5 for a PIPE closing Nov 6; resale registration required within 30 days.

💸 ATM SALES DISCLOSED $GSIT · GSI Technology Technology · Micro cap ($116M) Sold: 950.4K shares for $9.3M net (avg $10.10, May 2026) Program: $25.0M registration statement (expired July 2026) Cash: $69.2M (Sept 30, 2026) 10-Q discloses 950,401 shares sold under the at-the-market offering in May 2026 for $9.3M net; the registration statement expired in July 2026 and no further ATM capacity remains.

💸 ATM SALES DISCLOSED $MDCX · Medicus Pharma Healthcare · Nano cap ($2.68M) Sold: ~1.04M shares for $17.8M gross (nine months ended Sept 30, 2026) Cash: $5.0M + $8.1M restricted (Sept 30, 2026) Going concern: disclosed; Nasdaq MVLS non-compliance (deadline Nov 16) 10-Q discloses approximately 1.04mln shares sold under the at-the-market program for $17.77mln gross in the nine months ended September 30, 2026.

💸 ATM SALES DISCLOSED $ANY · DarkHorse Technologies Financials · Nano cap ($30.0M) Sold: $4.2M net (nine months ended Sept 30, 2026) Cash: $8.8M (Sept 30, 2026); going concern disclosed Private placement: $4.8M (Sept 2026, $3.00/unit) 10-Q discloses $4.2M in net ATM proceeds raised in the nine months ended September 30, 2026, alongside a September private placement; company cited substantial doubt about its ability to continue as a going concern.

💸 ATM SALES DISCLOSED $SNGX · Soligenix Healthcare · Nano cap ($7.29M) Sold: 13.3M shares for $6.9M gross (avg $0.52) YTD 2026 Remaining: ~$1.8M Agent: Rodman & Renshaw Going concern: disclosed 10-Q discloses 13.27mln shares sold under the at-the-market program at a weighted average of $0.52 through September 30, 2026, with approximately $1.8M of capacity remaining; going concern substantial doubt disclosed.

🔒 PRIVATE PLACEMENT $NXXT · NextNRG Technology · Nano cap ($3.87M) Raise: $7.0M (debt exchange, 181% of market cap) Shares: 7,000 Series D Preferred at $1,000 stated value Converts: up to 1.68mln common at $2.20 (floor $0.44) Dividend: 18% p.a., compounding monthly Counterparty: CEO Michael Farkas 8-K Items 1.01/3.02: $7.0M in promissory notes, accrued interest ($2.75M), and guarantee fees ($620.9K) owed to CEO Farkas exchanged for 7,000 Series D Preferred shares; conversion capped at 9.99% of outstanding common pending Nasdaq approval.

💸 ATM SALES DISCLOSED $LIDR · AEye Technology · Nano cap ($40.5M) Raised to date: $70.4M gross on prior $125M program (now terminated) New capacity: up to $50.0M (A.G.P., entered Sept 2026) Cash: $63.1M (Sept 30, 2026) Agent: A.G.P. (new program) 10-Q discloses $70.4M raised under the prior at-the-market program, which was replaced in September 2026 with a new $50M ATM agreement with A.G.P.; nine months ended September 30, 2026.

🟠 NEW ATM PROGRAM $ATYR · aTyr Pharma Healthcare · Nano cap ($15.6M) Capacity: up to $80.0M remaining (~513% of market cap) Total program: $215.0M (445,732 pre-split shares sold for ~$70.0M to date) Agent: Jefferies, 3.0% commission Reverse split: 1-for-40 effective Oct 28, 2026 (~2.5M shares outstanding) 424B5 refreshes the ATM prospectus supplement, covering $79.99mln in unsold capacity under the existing Open Market Sale Agreement with Jefferies dated April 22, 2022.

💸 ATM SALES DISCLOSED $IGC · IGC Pharma Healthcare · Nano cap ($20.7M) Sold: $620K gross (Q3 FY2026, nine months ended Sept 30) Raised to date: $9.9M of $60.0M program Cash: $377K (Sept 30, 2026); going concern disclosed 10-Q discloses approximately $620K in gross proceeds raised under the at-the-market offering program in the quarter; $9.9M raised to date on the $60M program.

💸 ATM SALES DISCLOSED $NERV · Minerva Neurosciences Healthcare · Micro cap ($116M) Sold: 2.09M shares for $9.2M net (avg $4.79) Capacity: $75.0M program Cash: $77.0M (Sept 30, 2026) Agent: not stated in payload 10-Q discloses 2.09mln shares sold under the at-the-market program for $9.2M net proceeds through the nine months ended September 30, 2026.

🔴 OFFERING PRICED $NTCL · NetClass Technology Technology · Nano cap ($0.5M) Raise: $1.2M gross (up to $2.4M with allocation rights) Shares: 675.0K at $0.40 + 2.33M pre-funded warrants at $0.3875 Dilution: up to 9.0M shares vs 6.15M Class A outstanding (146% of shares outstanding) Agent: Univest Securities, 7% fee + $60K expenses 424B5 prices a best-efforts offering closing Nov 6; up to 3.0M additional shares/warrants available via Allocation Rights exercisable within 30 days.

📝 RESALE REGISTERED $ELPW · Elong Power Technology · Nano cap ($1.03M) Shares: 2.71M (new warrant shares, 150% coverage) Warrants: 2.71M at $2.50, 3yr (floor $0.502, full-ratchet anti-dilution reset) Dilution: 2.71M shares vs 2.74M outstanding (99% of shares outstanding) Agent: Maxim Group, 5% fee 424B3 registers resale of 2.71mln Class A ordinary shares underlying new warrants issued Nov 5 in a warrant inducement agreement; company must file the resale registration within 30 days.

🔒 PRIVATE PLACEMENT $ELPW · Elong Power Technology · Nano cap ($1.03M) Raise: $3.26M gross (317% of market cap) Shares: 1.81M at $1.80 (-38% vs prior close $1.305; cut from $3.80 original) New warrants: 2.71M at $2.50, 3yr (150% coverage, floor $0.502, anti-dilution reset) Agent: Maxim Group, 5% fee 6-K: warrant inducement agreement Nov 5 with institutional holders of May, July, and Aug 2026 warrants; company must file resale registration for new warrant shares within 30 days.

📝 RESALE REGISTERED $NCI · Neo-Concept International Consumer · Nano cap ($4.43M) Shares: 4.4M (PIPE shares, Oct 26 at $0.30 vs $0.53 market price - 43% discount) Raise: $1.32M gross (PIPE proceeds; company receives none from resale) Dilution: 4.4M shares vs 8.48M outstanding (52% of shares outstanding) Consolidation: 8:1 reverse split effective Nov 10, 2026 (second in 18 months) F-1 registers resale of 4.4mln Class A ordinary shares issued Oct 26 in a PIPE at $0.30/share; no lock-up on selling shareholders.

📝 RESALE REGISTERED $WHLR · Wheeler REIT Real Estate · Nano cap ($448K) Shares: 74,374 (38th monthly Series D redemption, Nov 5) Series D remaining: 1.72mln shares vs 1.86mln common outstanding Notes conversion: $0.59/share (42.50 shares per $25 principal, 45% discount to market) Cumulative redemptions: 453 requests, 1.83mln Series D shares redeemed 424B3 Prospectus Supplement No. 26 settles 1,903 Series D preferred shares at ~$41.80 via 74,374 common shares; the redemption triggered a further cut to the 7.00% Subordinated Convertible Notes conversion price to $0.59.

📝 RESALE REGISTERED $WHLR · Wheeler REIT Real Estate · Nano cap ($0.4M) Shares: 74.4K (Nov Series D redemption, 38th monthly date) Dilution: 74,374 shares vs 1.86mln outstanding (4% of shares outstanding) Notes conversion: $0.59/share (~42.50 shares per $25.00 principal, 45% discount) Cumulative redeemed: 1.83mln Series D shares across 453 requests 424B3 registers 74,374 common shares issued to Series D holders who redeemed 1,903 preferred shares at ~$41.80; next redemption deadline Nov 25, 2026.