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

Andretti Acquisition Corp. II (POLEW)

CIK 2025341 · all EDGAR filings →

Overall dilution risk
HIGHworst of 2 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-1/A on file 2024-08-22
= 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
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
NOT COMPUTEDunder 3 years of share history on file
= share count now vs 3 years ago
Cash need
MEDIUM~8.8 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

Fewer than two cover-page share counts on file, so there is no history to chart.

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
Warrant11.9M$11.55y
Public Warrants11.5Mnot tagged
Private Placement Warrants380,000$11.5

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: 11.9M underlying shares, as reported Sep 30, 2025 (10-Q).

Reported exercise price: $18 (aggregate figure as tagged; individual tranches vary).

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Promissory Note$400,000$10~40,000 sh

If every note above converted at its tagged price: ~40,000 new shares. 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.

Registrations and offerings

S-1Jun 28, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 2 executed · 0 registered.

EXECUTEDApr 27, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDOct 15, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDSep 9, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDSep 5, 2024Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
EFFECTIVESep 5, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDAug 22, 2024S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDJul 31, 2024S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDJun 28, 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.

Keep going: float checker · offering calendar · short-squeeze screener · full POLEW workspace