Dilution profile // every instrument, one screen, from SEC filings

ASP Isotopes Inc. (ASPI)

CIK 1921865 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$360M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
LOWwarrants = 0% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
HIGH+237% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOW~92.3 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2022-12-212026-05-20

Latest: 125.9M shares as of May 20, 2026 (10-Q).

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool

Warrants

TrancheWarrantsExercise priceTermNotes
Warrant A2.1M$0.6
Warrant B2.1M$0.65

Tranches exactly as the company dimensioned them in its 10-Q filed May 20, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 69,778 underlying shares, as reported Dec 31, 2025 (10-K).

Reported exercise price: $1.75 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 126.0M = 125.9M O/S + 69,778 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

Convertible debt on the balance sheet: $199.9M as of Mar 31, 2026, tagged only as a company-wide total.

This filer tagged totals without per-note dimensions in its 10-Q filed May 20, 2026, so per-note terms (maturities, individual conversion prices) live in the exhibit prose and are not parsed here.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding125.9MMay 20, 2026
+ Warrant A (if exercised)2.1MAug 29, 2025
+ Warrant B (if exercised)2.1MAug 29, 2025
Fully diluted estimate130.0M+3.3% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $360.2Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRJul 16, 2026$110.2M registeredfiling →
S-3ASROct 14, 2025$250.0M registeredfiling →
S-3MEFJul 23, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 6 executed · 2 registered.

EXECUTEDJul 16, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDJul 16, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDJun 25, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJan 7, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDNov 14, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDOct 16, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDOct 15, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDOct 14, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDJul 24, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJul 24, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDJul 23, 2025S-3MEF registration — capacity to sell shares, not a sale yetS-3MEF
EXECUTEDJun 2, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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