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

Direct Digital Holdings, Inc. (DRCT)

CIK 1880613 · all EDGAR filings →

Overall dilution risk
HIGHworst of 2 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGH$453M 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
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
NOT COMPUTEDunder 3 years of share history on file
= share count now vs 3 years ago
Cash need
HIGH~1.1 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

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

Fewer than two cover-page share counts on file, so there is no history to chart.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool

Warrants

Warrants outstanding: 3.2M underlying shares, as reported Sep 30, 2023 (10-Q).

Reported exercise price: $5.5 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $0 as of Mar 31, 2026.

Convertible notes

No convertible-note facts tagged in the 10-Q filed May 15, 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.

Registrations and offerings

Registered offering capacity on live registrations: $452.6Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Apr 29, 2026$46.9M registeredfiling →
S-3Feb 10, 2026$400.0M registeredfiling →
S-1Feb 4, 2026$5.7M registeredfiling →

Last 12 months: 7 executed · 6 registered.

UPDATEMay 28, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEMay 27, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDMay 21, 2026S-1/A registration — capacity to sell shares, not a sale yetS-1/A →
REGISTEREDApr 29, 2026S-1 registration — capacity to sell shares, not a sale yetS-1 →
UPDATEFeb 11, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEFeb 11, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDFeb 10, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
REGISTEREDFeb 4, 2026S-1 registration — capacity to sell shares, not a sale yetS-1 →
EXECUTEDDec 5, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDDec 1, 2025Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4 →
EXECUTEDNov 26, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →
EFFECTIVENov 26, 2025SEC declared a registration effective — selling can beginEFFECT →

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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