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

LanzaTech Global, Inc. (LNZA)

CIK 1843724 · 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/A on file 2024-10-11
= 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 = 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
LOW-95% 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~3.7 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

2023-03-272026-05-08

Latest: 10.1M shares as of May 8, 2026 (10-Q). Share count fell from 232.0M to 2.3M between Aug 14, 2025 and Nov 13, 2025, a pattern consistent with a reverse split (roughly 1-for-100); 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 · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
PIPE Warrant7.8M$1e-7FV $24.9M
Public Warrants178,081$1150FV $1,000
Private Placement Warrants44,661$1150FV $0

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: 100 underlying shares, as reported Aug 18, 2025 (10-Q).

Reported exercise price: $1150000 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $6,000 as of Mar 31, 2026.

Rough fully diluted estimate: 10.1M = 10.1M O/S + 100 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
Convertible Debt$150.0Mnot tagged

Notes exactly as the company dimensioned them in its 10-Q filed May 14, 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 outstanding10.1MMay 8, 2026
+ PIPE Warrant (if exercised)7.8MJan 21, 2026
+ Public Warrants1 (if exercised)78,081Mar 31, 2026
+ Private Placement Warrants (if exercised)44,661Mar 31, 2026
Fully diluted estimate18.0M+78.5% 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-3May 9, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 2 executed · 0 registered.

EXECUTEDMay 18, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJan 23, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMay 9, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDNov 5, 2024Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
EXECUTEDNov 5, 2024Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
EFFECTIVENov 1, 2024SEC declared a registration effective — selling can beginEFFECT
EFFECTIVENov 1, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDOct 11, 2024S-3/A registration — capacity to sell shares, not a sale yetS-3/A
EXECUTEDAug 8, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
UPDATEAug 8, 2024Prospectus update — often a resale registration, not necessarily new capital424B3
REGISTEREDMay 9, 2024S-3 registration — capacity to sell shares, not a sale yetS-3
UPDATEMay 9, 2024Prospectus update — often a resale registration, not necessarily new capital424B3

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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