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

Purple Innovation, Inc. (PRPL)

CIK 1643953 · 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 2025-05-23
= 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
HIGHwarrants = 125% 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-18% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
MEDIUM~8.3 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

2015-09-092018-01-31

Latest: 16.0M shares as of Jan 31, 2018 (10-K).

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
Total Warrants1.6Mnot tagged
Two Thousand Twenty Four Warrants800,000not tagged
Restated Credit Agreement800,000not tagged
Warrants2024800,000not tagged
SGI Warrants320,000$17.45
Additional Warrants300,000not tagged
Additional Warrants2025262,000not tagged
Warrants2025249,000not tagged
Term Loan Lenders Warrants200,000$17.45
Warrant200,000$37.5

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 11, 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: 20.0M underlying shares, as reported Jan 23, 2025 (10-Q).

Reported exercise price: $17.45 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $15.7M as of Jun 30, 2026.

Rough fully diluted estimate: 36.0M = 16.0M O/S + 20.0M 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 11, 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 outstanding16.0MJan 31, 2018
+ Total Warrants (if exercised)1.6MJun 30, 2026
+ Two Thousand Twenty Four Warrants (if exercised)800,000Jun 30, 2026
+ Restated Credit Agreement (if exercised)800,000Jan 23, 2024
+ Warrants2024 (if exercised)800,000Jun 30, 2026
+ SGI Warrants (if exercised)320,000Jun 30, 2026
+ Additional Warrants (if exercised)300,000Jun 30, 2026
+ Additional Warrants2025 (if exercised)262,000Jun 30, 2026
+ Warrants2025 (if exercised)249,000Jun 30, 2026
+ Term Loan Lenders Warrants (if exercised)200,000Jun 30, 2026
+ Warrant (if exercised)200,000Mar 12, 2025
Fully diluted estimate21.6M+34.8% 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 23, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
S-3Mar 21, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 0 registered.

EFFECTIVEMay 30, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMay 23, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDMay 6, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMar 13, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EFFECTIVEJun 4, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMay 31, 2024S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDMar 21, 2024S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDMar 6, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJan 23, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 10, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDFeb 10, 2023Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 8, 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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