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

Palladyne AI Corp. (PDYNW)

CIK 1826681 · 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$188M 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
MEDIUMwarrants = 42% 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
MEDIUM+90% 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
MEDIUM~19 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

2021-10-222026-07-29

Latest: 49.3M shares as of Jul 29, 2026 (10-Q). Share count fell from 154.3M to 25.8M between Apr 28, 2023 and Jul 27, 2023, a pattern consistent with a reverse split (roughly 1-for-6); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Funded — but tight

~19 months of cash · watch

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Two Thousand Twenty Four Concurrent Private Placement Warrants430,105$2.35.5y
Two Thousand Twenty Four Private Placement Warrantsnot tagged$2.3
Two Thousand Twenty Four Warrantsnot taggednot tagged3.8y

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: 20.5M underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $11.3243 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 69.9M = 49.3M O/S + 20.5M 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 Aug 6, 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 outstanding49.3MJul 29, 2026
+ Two Thousand Twenty Four Concurrent Private Placement Warrants (if exercised)430,105Jun 30, 2026
Fully diluted estimate49.8M+0.9% 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: $187.7Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Jan 9, 2026$37.7M registeredfiling →
S-3Aug 6, 2025$150.0M registeredfiling →
S-1Nov 20, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 2 executed · 1 registered.

EXECUTEDJun 8, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
UPDATEJan 21, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEJan 21, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJan 9, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDNov 17, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EFFECTIVEAug 15, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDAug 6, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDDec 31, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
UPDATEDec 20, 2024Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEDec 20, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDDec 18, 2024S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDNov 20, 2024S-1 registration — capacity to sell shares, not a sale yetS-1

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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