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

Satellogic Inc. (SATL)

CIK 1874315 · 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
HIGH$206M 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
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
LOW~50.3 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

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
Liberty Subscription Agreement Two15.0M$15
SPAC Public Warrants8.3Mnot tagged
A863 Warrants8.3M$8.63
Liberty Subscription Agreement One5.0M$10
PIPE Warrants2.5M$200.6y
Liberty Warrants2.5M$10
SPAC Private Placement Warrants200,000not tagged
Forward Purchase Contract Warrantnot tagged$11.5
Liberty Warrants and Liberty Advisory Fee Warrant Liabilitynot taggednot tagged0.6y

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.

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Secured Convertible Notes$30.0M$18.0M$1.2~25.0M sh

If every note above converted at its tagged price: ~25.0M new shares on 27.3M 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 outstanding27.3MApr 25, 2022
+ Liberty Subscription Agreement Two (if exercised)15.0MJan 18, 2022
+ SPAC Public Warrants (if exercised)8.3MJan 25, 2022
+ A863 Warrants (if exercised)8.3MJun 30, 2026
+ Liberty Subscription Agreement One (if exercised)5.0MJan 18, 2022
+ PIPE Warrants (if exercised)2.5MDec 31, 2022
+ Liberty Warrants (if exercised)2.5MJan 18, 2022
+ SPAC Private Placement Warrants (if exercised)200,000Jan 25, 2022
+ Secured Convertible Notes (if fully converted)25.0MApr 12, 2024
Fully diluted estimate94.1M+244.7% 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: $206.1Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Mar 19, 2026$200.0M registeredfiling →
S-3MEFJan 26, 2026$6.1M registeredfiling →
F-3Dec 10, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 6 executed · 2 registered.

EXECUTEDMar 30, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMar 27, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMar 19, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDJan 27, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJan 26, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDJan 26, 2026S-3MEF registration — capacity to sell shares, not a sale yetS-3MEF
EXECUTEDOct 16, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDOct 16, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDOct 15, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDApr 15, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDApr 10, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMar 31, 2025SEC declared a registration effective — selling can beginEFFECT

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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