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

Jasper Therapeutics, Inc. (JSPR)

CIK 1788028 · 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
HIGHS-3 on file 2025-03-19
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
LOWwarrants = 2% 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
LOW-75% 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~2.2 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

2023-05-012026-05-11

Latest: 28.0M shares as of May 11, 2026 (10-Q). Share count fell from 111.6M to 15.0M between Oct 31, 2023 and Feb 25, 2025, a pattern consistent with a reverse split (roughly 1-for-7); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

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

TrancheWarrantsExercise priceTermNotes
Common Warrants12.3M$2.92FV $24.7M
Warrant5.0Mnot tagged
Pre Funded Warrants675,000$0.0001
Public Warrantsnot tagged$115

Tranches exactly as the company dimensioned them in its 10-Q filed May 14, 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: 675,000 underlying shares, as reported Sep 30, 2025 (10-Q).

Reported exercise price: $0.0001 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $6.5M as of Mar 31, 2026.

Rough fully diluted estimate: 28.7M = 28.0M O/S + 675,000 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 May 14, 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 outstanding28.0MMay 11, 2026
+ Common Warrants (if exercised)12.3MSep 30, 2025
+ Warrant (if exercised)5.0MMar 31, 2026
+ Pre Funded Warrants (if exercised)675,000Sep 30, 2025
Fully diluted estimate46.0M+64.4% 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

S-3Mar 19, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 3 executed · 0 registered.

EXECUTEDJul 17, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDSep 19, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDSep 18, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMar 26, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMar 26, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMar 19, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDFeb 7, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMay 5, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMay 5, 2023SEC declared a registration effective — selling can beginEFFECT
REGISTEREDApr 28, 2023S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDJan 25, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJan 24, 2023Shelf 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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