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

BATTALION OIL CORP (BATL)

CIK 1282648 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed sub-ratings (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$523M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
LOWwarrants = 8% 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+248% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOWoperating cash flow positive
= 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

2020-11-062026-08-10

Latest: 57.3M shares as of Aug 10, 2026 (10-Q).

⊙
EVIDENCE — filed/published fact
SourceSEC XBRL, cover-page share count
Fielddei:EntityCommonStockSharesOutstanding
As of2026-08-10
HowThe newest cover-page count as filed, whatever its age. The float checker applies a 200-day freshness rule and sets this beside the balance-sheet count.
Open the source document →
Share count fell from 164.0M to 16.2M between Aug 5, 2019 and Nov 7, 2019, a pattern consistent with a reverse split (roughly 1-for-10); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 4.7M underlying shares, as reported Sep 9, 2016 (10-K).

Reported exercise price: $14.04 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 62.0M = 57.3M O/S + 4.7M 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

No convertible-note facts tagged in the 10-Q filed Aug 12, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

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 outstanding57.3MAug 10, 2026
+ Warrants (aggregate, as tagged) (if exercised)4.7MSep 9, 2016
Fully diluted estimate62.0M+8.2% 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: $522.8Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Apr 21, 2026$490.4M registeredfiling →
S-3Mar 23, 2026$32.4M registeredfiling →

Last 12 months: 5 executed · 2 registered.

EXECUTEDAug 7, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDMay 5, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
UPDATEApr 29, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEApr 29, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDApr 21, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
UPDATEApr 2, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEApr 1, 2026SEC declared a registration effective — selling can beginEFFECT →
EXECUTEDMar 31, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
REGISTEREDMar 23, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
EXECUTEDMar 13, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDMar 9, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDMay 14, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

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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