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

PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (PACB)

CIK 1299130 · 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-3ASR on file 2026-02-25
= 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+24% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOW~25.6 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

2020-10-312026-07-31

Latest: 310.8M shares as of Jul 31, 2026 (10-Q).

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 0 underlying shares, as reported Dec 31, 2018 (10-K).

Reported exercise price: $2.63 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 310.8M = 310.8M O/S + 0 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
2028 Convertible Senior Notesnot tagged$459.0Mnot tagged1.5%
2030 Convertible Senior Notes$441.0M$441.0M$21.51.375%~20.5M sh
2029 Notes$200.0M$210.5M$4.891.5%~40.9M sh

If every note above converted at its tagged price: ~61.4M new shares on 310.8M 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 outstanding310.8MJul 31, 2026
+ Warrants (aggregate, as tagged) (if exercised)0Dec 31, 2018
+ 2030 Convertible Senior Notes (if fully converted)20.5MJun 30, 2023
+ 2029 Notes (if fully converted)40.9MNov 21, 2024
Fully diluted estimate372.2M+19.8% 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-3ASRFeb 25, 2026fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
S-3ASRMay 9, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
S-3ASROct 3, 2023no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 1 registered.

REGISTEREDFeb 25, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDNov 22, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDNov 7, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDMay 9, 2024Automatic shelf registration — effective immediately (large filers)S-3ASR
REGISTEREDOct 3, 2023Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDAug 2, 2023Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 30, 2023Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 26, 2023Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJan 25, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJan 24, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMay 31, 2022SEC declared a registration effective — selling can beginEFFECT
UPDATEOct 13, 2021Resale prospectus — existing holders registering to sell424B7

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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