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

TANDEM DIABETES CARE INC (TNDM)

CIK 1438133 · 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-3MEF on file 2018-08-03
= 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
LOWwarrants = 0% 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+7% 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
LOW~562.9 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

2020-10-302026-08-03

Latest: 69.6M shares as of Aug 3, 2026 (10-Q). Share count fell from 50.2M to 10.1M between Jul 24, 2017 and Oct 23, 2017, a pattern consistent with a reverse split (roughly 1-for-5); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Common Stock Warrant Expiring March2027193,788$23.5

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: 194,788 underlying shares, as reported Sep 30, 2022 (10-Q).

Reported exercise price: $73.73 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 69.8M = 69.6M O/S + 194,788 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

NotePrincipalCarryingConv. priceRateIf converted
Convertible Senior Notes Due 2029$316.3M$34.561.5%~9.2M sh
Convertible Senior Notes Due 2032$300.0M$36.990%~8.1M sh

If every note above converted at its tagged price: ~17.3M new shares on 69.6M 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 outstanding69.6MAug 3, 2026
+ Common Stock Warrant Expiring March2027 (if exercised)193,788Jun 30, 2026
+ Convertible Senior Notes Due 2029 (if fully converted)9.2MJun 30, 2026
+ Convertible Senior Notes Due 2032 (if fully converted)8.1MJun 30, 2026
Fully diluted estimate87.0M+25.1% 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

Last 12 months: 1 executed · 0 registered.

EXECUTEDFeb 27, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMar 11, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMay 15, 2020Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDAug 3, 2018S-3MEF registration — capacity to sell shares, not a sale yetS-3MEF
EXECUTEDAug 3, 2018Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDAug 2, 2018Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMay 9, 2018SEC declared a registration effective — selling can beginEFFECT
REGISTEREDApr 26, 2018S-3 registration — capacity to sell shares, not a sale yetS-3
REGISTEREDFeb 9, 2018S-1MEF registration — capacity to sell shares, not a sale yetS-1MEF
EXECUTEDFeb 9, 2018Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4
REGISTEREDFeb 8, 2018S-1/A registration — capacity to sell shares, not a sale yetS-1/A
MARKETINGFeb 8, 2018Free-writing prospectus — offering being marketedFWP

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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