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

Datavault AI Inc. (DVLT)

CIK 1682149 · 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$1005M 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 = 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+22403% 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~1.1 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

2020-05-262026-05-11

Latest: 855.6M shares as of May 11, 2026 (10-Q). Share count fell from 250.9M to 4.7M between Mar 27, 2024 and May 17, 2024, a pattern consistent with a reverse split (roughly 1-for-54); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

~1 month of cash left

critical · burning $5.9M / quarter

Full breakdown: cash runway tool

Warrants

TrancheWarrantsExercise priceTermNotes
Prefunded Warrants263.9M$0.0001
February2024 Warrants Black Scholes Value Payout328,483not tagged
Common Stock Warrants12,068not tagged
Warrant Dividendnot tagged$5

Tranches exactly as the company dimensioned them in its 10-Q filed May 15, 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: 1 underlying shares, as reported Dec 31, 2025 (10-K).

Reported exercise price: $5 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $123,000 as of Sep 10, 2024.

Down-round (price protection) accounting has been tagged in this filer’s XBRL: some instrument carries repricing protection. Which tranche requires reading the exhibits.

Rough fully diluted estimate: 855.6M = 855.6M O/S + 1 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

NotePrincipalCarryingConv. priceRateIf converted
Csi Convertible Notes$15.0Mnot tagged
DV Convertible Note$10.0Mnot tagged5.12%
Nyiax Convertible Notenot tagged$2.5M$24%
First and Second Convertible Notesnot tagged$1.45%

Notes exactly as the company dimensioned them in its 10-Q filed May 15, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay 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 outstanding855.6MMay 11, 2026
+ Prefunded Warrants (if exercised)263.9MSep 25, 2025
+ February2024 Warrants Black Scholes Value Payout (if exercised)328,483Dec 31, 2024
+ Common Stock Warrants (if exercised)12,068Mar 31, 2026
Fully diluted estimate1.12B+30.9% 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: $1005.2Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Aug 12, 2026$3.2M registeredfiling →
S-3Apr 30, 2026$2.0M registeredfiling →
S-3Mar 20, 2026$1000.0M registeredfiling →

Last 12 months: 11 executed · 8 registered.

REGISTEREDAug 12, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDJul 30, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 22, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMay 5, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDMay 4, 2026S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDApr 30, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDApr 23, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMar 25, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMar 20, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDMar 19, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 27, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDFeb 26, 2026S-3MEF registration — capacity to sell shares, not a sale yetS-3MEF

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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