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

PERPETUA RESOURCES CORP. (PPTA)

CIK 1526243 · 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$1243M 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
LOWwarrants = 4% 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
MEDIUM+98% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOW~76.8 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

2020-12-312026-05-01

Latest: 125.1M shares as of May 1, 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

TrancheWarrantsExercise priceTermNotes
Warrants Expiring October2820281.5M$38.45
Warrants Expiring October2820271.5M$34.95
Warrants Expiring October2820261.4M$31.46
Common Share Purchase Warrants370,000$38.931y
Warrants Expiring December12026133,333$31.46
Warrants Expiring December182028123,334$47.59
Warrants Expiring December232026123,333$38.93
Warrants Expiring December182027123,333$43.26

Tranches exactly as the company dimensioned them in its 10-K filed Mar 31, 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: 4.8M underlying shares, as reported Dec 31, 2025 (10-K).

Reported exercise price: $35.59 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 129.9M = 125.1M O/S + 4.8M 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

No convertible-note facts tagged in the 10-Q filed May 11, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are 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 outstanding125.1MMay 1, 2026
+ Warrants Expiring October282028 (if exercised)1.5MDec 31, 2025
+ Warrants Expiring October282027 (if exercised)1.5MDec 31, 2025
+ Warrants Expiring October282026 (if exercised)1.4MDec 31, 2025
+ Common Share Purchase Warrants (if exercised)370,000Dec 12, 2025
+ Warrants Expiring December12026 (if exercised)133,333Dec 31, 2025
+ Warrants Expiring December182028 (if exercised)123,334Dec 31, 2025
+ Warrants Expiring December232026 (if exercised)123,333Dec 31, 2025
+ Warrants Expiring December182027 (if exercised)123,333Dec 31, 2025
Fully diluted estimate130.3M+4.2% 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: $1243.3Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRMar 31, 2026$1243.3M registeredfiling →

Last 12 months: 5 executed · 1 registered.

REGISTEREDMar 31, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDDec 16, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDOct 30, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDOct 30, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDOct 28, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDOct 28, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 16, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJun 13, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGJun 12, 2025Free-writing prospectus — offering being marketedFWP
EXECUTEDJun 11, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGJun 11, 2025Free-writing prospectus — offering being marketedFWP
EXECUTEDNov 20, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5

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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