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

PureCycle Technologies, Inc. (PCTTU)

CIK 1830033 · 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$216M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
LOWwarrants = 16% 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+23% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
MEDIUM~13.9 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

2021-05-182026-08-04

Latest: 200.9M shares as of Aug 4, 2026 (10-Q).

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
Series A Warrants10.3M$11.5
Public Warrant5.7M$11.5
Series B Warrants3.1M$11.54.4y
Series C Warrants2.5M$11.54.4y
Private Warrants199,000$11.5
Public Warrantsnot tagged$11.5
Private Warrantnot taggednot tagged0.7y

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 6, 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: 31.7M underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $11.5 (aggregate figure as tagged; individual tranches vary).

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: 232.6M = 200.9M O/S + 31.7M 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

NotePrincipalCarryingConv. priceRateIf converted
Green Convertible Senior Notes$250.0M$34.0M$14.827.25%~16.9M sh
Green Convertible Notes$50.0Mnot tagged

If every note above converted at its tagged price: ~16.9M new shares on 200.9M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Aug 6, 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 outstanding200.9MAug 4, 2026
+ Series A Warrants (if exercised)10.3MJun 30, 2026
+ Public Warrant (if exercised)5.7MJun 30, 2026
+ Series B Warrants (if exercised)3.1MJun 30, 2026
+ Series C Warrants (if exercised)2.5MJun 30, 2026
+ Private Warrants (if exercised)199,000Jun 30, 2026
+ Green Convertible Senior Notes (if fully converted)16.9MAug 24, 2023
Fully diluted estimate239.5M+19.2% 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: $216.2Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRJun 10, 2026fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
S-3ASRJan 31, 2025fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
S-3Nov 20, 2024$216.2M registeredfiling →

Last 12 months: 4 executed · 1 registered.

EXECUTEDJun 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGJun 11, 2026Free-writing prospectus — offering being marketedFWP
REGISTEREDJun 10, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDJun 10, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 10, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
UPDATEJul 18, 2025Resale prospectus — existing holders registering to sell424B7
EXECUTEDJun 17, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
UPDATEMar 4, 2025Resale prospectus — existing holders registering to sell424B7
EXECUTEDFeb 6, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDJan 31, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR
UPDATEJan 15, 2025Prospectus 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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