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

PMGC Holdings Inc. (ELAB)

CIK 1840563 · 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$42.6M 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
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-53% 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~8.1 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

2023-12-112026-08-14

Latest: 8.1M shares as of Aug 14, 2026 (10-Q). Share count fell from 517.7M to 707,106 between Nov 13, 2024 and Mar 26, 2025, a pattern consistent with a reverse split (roughly 1-for-732); 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 · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Prefunded Warrants1,968not tagged
Replacement Warrants1,649not tagged5y
Warrant2$3528004.1y
Derivative Liability Warrantsnot taggednot tagged1.1y

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 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: 6 underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $275582.86 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 8.1M = 8.1M O/S + 6 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

Convertible debt on the balance sheet: $9.1M as of Jun 30, 2026, tagged only as a company-wide total.

This filer tagged totals without per-note dimensions in its 10-Q filed Aug 14, 2026, so per-note terms (maturities, individual conversion prices) live in the exhibit prose and are not parsed here.

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 outstanding8.1MAug 14, 2026
+ Prefunded Warrants (if exercised)1,968Mar 21, 2025
+ Replacement Warrants (if exercised)1,649Jan 28, 2025
+ Warrant (if exercised)2Jun 30, 2026
Fully diluted estimate8.1M+0.0% 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: $42.6Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Oct 16, 2025$41.0M registeredfiling →
S-1Sep 22, 2025$1.6M registeredfiling →
S-1Feb 12, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 7 executed · 5 registered.

EXECUTEDApr 20, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDApr 17, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDApr 1, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDFeb 17, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJan 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
UPDATEDec 3, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
UPDATEDec 3, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEDec 1, 2025SEC declared a registration effective — selling can beginEFFECT
EFFECTIVEDec 1, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDNov 26, 2025S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDNov 26, 2025S-1/A registration — capacity to sell shares, not a sale yetS-1/A
REGISTEREDOct 16, 2025S-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.

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