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

Peraso Inc. (PRSO)

CIK 890394 · 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$26.3M 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
HIGHwarrants = 60% 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-35% 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~6.2 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

2020-08-052026-05-12

Latest: 14.7M shares as of May 12, 2026 (10-Q). Share count fell from 43.6M to 2.2M between Aug 12, 2019 and Nov 1, 2019, a pattern consistent with a reverse split (roughly 1-for-20); 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

Warrants

TrancheWarrantsExercise priceTermNotes
Prefunded Warrants1.4M$0.001
Purchase Warrants Outstanding235,000not taggedFV $33,000
Series A Warrants165,000$2.25
Series B Warrants165,000$2.25
Series A Warrants and Series B Warrantsnot tagged$2.1
Warrants Issued November Two Thousand Twenty Twonot tagged$40
Warrants Issued June Two Thousand Twenty Threenot tagged$28
Common Stock Warrantsnot tagged$28
Series A Warrants Issuednot tagged$2.25
Series A Warrants Issued Onenot tagged$2.625
Series C Warrants Issuednot tagged$1.61
Series C Warrants Exercisednot tagged$1.61

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: 8.8M underlying shares, as reported Dec 31, 2024 (10-K).

Reported exercise price: $28 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $33,000 as of Mar 31, 2026.

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: 23.5M = 14.7M O/S + 8.8M 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 May 14, 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.

Registrations and offerings

Registered offering capacity on live registrations: $26.3Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Jul 2, 2026$25.0M registeredfiling →
S-3Oct 8, 2025$1.2M registeredfiling →
S-3Dec 3, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 6 executed · 3 registered.

UPDATEJul 15, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEJul 14, 2026SEC declared a registration effective — selling can beginEFFECT
EXECUTEDJul 2, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDJul 2, 2026S-1 registration — capacity to sell shares, not a sale yetS-1
EXECUTEDMay 14, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDApr 10, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
UPDATEDec 9, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEDec 8, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDDec 4, 2025S-3/A registration — capacity to sell shares, not a sale yetS-3/A
EXECUTEDNov 21, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDOct 10, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDOct 8, 2025S-3 registration — capacity to sell shares, not a sale yetS-3

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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