Is PENG diluting shareholders?

Read three numbers together: shares outstanding over time (51.2M as of 2026-07-02), warrants that can convert into new shares, and how much cash runway remains. A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

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

Penguin Solutions, Inc. (PENG)

CIK 1616533 · all EDGAR filings →

Overall dilution risk

HIGHworst of 3 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$143M registered

= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)

registered capacity, not remaining: amounts already taken down are not subtracted yet

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

LOW-1% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

LOWoperating cash flow positive

= 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

Latest: 51.2M shares as of Jul 2, 2026 (10-Q).

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

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

Note	Principal	Carrying	Conv. price	Rate	If converted
Two Percent Convertible Senior Notes Due Two Thousand Twenty Nine	not tagged	$148.4M	not tagged	—	—
Two Point Two Five Percentage Convertible Senior Notes Due Two Thousand Twenty Six	$20.0M	$0	not tagged	—	—

Notes exactly as the company dimensioned them in its 10-Q filed Jul 7, 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.

Registrations and offerings

Registered offering capacity on live registrations: $142.6Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRAug 27, 2025$142.6M registeredfiling →

Last 12 months: 1 executed · 1 registered.

EXECUTEDJul 17, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →

REGISTEREDAug 27, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →

EXECUTEDDec 16, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDAug 14, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDAug 6, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDJul 16, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDJan 23, 2023Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDJun 29, 2022Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDJul 9, 2021Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EXECUTEDFeb 11, 2020Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDJul 12, 2019Unregistered share sale disclosed (8-K item 3.02)8-K →

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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