Is SAIHW diluting shareholders?

Read three numbers together: shares outstanding over time (see chart), warrants that can convert into new shares (2.2M reported), and how much cash runway remains (~0.3182355257975581 months). 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

SAIHEAT Ltd (SAIHW)

CIK 1847075 · all EDGAR filings →

Overall dilution risk

HIGHworst of 2 computed sub-ratings (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$300M 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 current share count to divide by

= warrant shares outstanding divided by current shares outstanding

not rated: the newest single-total cover-page count is as of 2023-12-31

Historical dilution

NOT COMPUTEDnewest single-total cover-page count is as of 2023-12-31

= share count now vs 3 years ago

not rated: the company has filed periodic reports since (newest: 20-F filed 2026-04-30) with no single-total cover-page count in SEC's companyfacts, which omits counts filed per share class

Cash need

HIGH~0.3 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

Newest single-total count on a cover page: 14.4M as of Dec 31, 2023 (20-F). Not used as today’s count, because the company has filed periodic reports since (newest: 20-F filed 2026-04-30) with no single-total cover-page count in SEC's companyfacts, which omits counts filed per share class.

⊙

EVIDENCE — filed/published fact

SourceSEC XBRL, cover-page share count

Fielddei:EntityCommonStockSharesOutstanding

As of2023-12-31

HowKept on the chart with its date. No estimate, rating or current-share figure on this page is built on it.

Open the source document →

Cash runway

~0 months of cash left

critical · burning $1.9M / quarter

Full breakdown: cash runway tool · source filing →

Warrants

Tranche	Warrants	Exercise price	Term	Notes
Private Placement Warrants	224,780	not tagged	—	—
Public Warrants	not tagged	$11.5	5y	—

Tranches exactly as the company dimensioned them in its 10-K filed Feb 18, 2022 →. 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: 2.2M underlying shares, as reported Dec 31, 2021 (10-K).

Reported exercise price: $11.5 (aggregate figure as tagged; individual tranches vary).

Convertible notes

No convertible-note facts tagged in the 10-Q filed May 18, 2022. 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.

Registrations and offerings

Registered offering capacity on live registrations: $300.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

F-3Jul 2, 2026$300.0M registeredfiling →

Last 12 months: 0 executed · 2 registered.

EFFECTIVEJul 14, 2026SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDJul 10, 2026F-3/A registration — capacity to sell shares, not a sale yetF-3/A →

REGISTEREDJul 2, 2026F-3 registration — capacity to sell shares, not a sale yetF-3 →

EXECUTEDSep 6, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EFFECTIVEAug 17, 2023SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDAug 16, 2023F-3/A registration — capacity to sell shares, not a sale yetF-3/A →

REGISTEREDJul 19, 2023F-3/A registration — capacity to sell shares, not a sale yetF-3/A →

REGISTEREDJun 26, 2023F-3 registration — capacity to sell shares, not a sale yetF-3 →

WITHDRAWNApr 17, 2023Registration withdrawnRW →

REGISTEREDSep 26, 2022F-1/A registration — capacity to sell shares, not a sale yetF-1/A →

REGISTEREDSep 21, 2022F-1/A registration — capacity to sell shares, not a sale yetF-1/A →

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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