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

Cineverse Corp. (CNVS)

CIK 1173204 · 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$57.8M 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 = 11% 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
MEDIUM+100% 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
HIGH~1.5 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

2020-08-122026-06-19

Latest: 23.4M shares as of Jun 19, 2026 (10-K). Share count fell from 179.1M to 11.7M between Feb 10, 2023 and Jun 21, 2023, a pattern consistent with a reverse split (roughly 1-for-15); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

~2 months of cash left

critical · burning $6.6M / quarter

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 2.7M underlying shares, as reported Mar 31, 2025 (10-K).

Reported exercise price: $3 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 26.1M = 23.4M O/S + 2.7M 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

Convertible debt on the balance sheet: $12.5M as of Mar 31, 2026, tagged only as a company-wide total.

This filer tagged totals without per-note dimensions in its 10-K filed Jun 26, 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 outstanding23.4MJun 19, 2026
+ Warrants (aggregate, as tagged) (if exercised)2.7MMar 31, 2025
Fully diluted estimate26.1M+11.3% 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: $57.8Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Mar 17, 2026$57.8M registeredfiling →

Last 12 months: 5 executed · 1 registered.

EXECUTEDJun 8, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDMay 1, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
UPDATEMar 26, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEMar 25, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDMar 17, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
EXECUTEDFeb 17, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDFeb 17, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDFeb 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDJul 11, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDNov 22, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDSep 6, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDMay 3, 2024Shelf 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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