Is SEAT diluting shareholders?

Read three numbers together: shares outstanding over time (11.2M as of 2026-07-31), warrants that can convert into new shares (1.0M reported), and how much cash runway remains (~17.90534831166279 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

Vivid Seats Inc. (SEAT)

CIK 1856031 · 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-1 on file 2023-12-05

= 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 = 9% 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+4% O/S in 3y

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

Cash need

MEDIUM~17.9 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

Latest: 11.2M shares as of Jul 31, 2026 (10-Q).

Cash runway

Funded — but tight

~18 months of cash · watch

Full breakdown: cash runway tool · source filing →

Warrants

Tranche	Warrants	Exercise price	Term	Notes
Dollar Two Hundred Exercise Warrants	100,000	$200	—	—
Dollar Three Hundred Exercise Warrants	100,000	$300	—	—
Class A Public Warrants	not tagged	$230	—	—
Class A Private Warrants	not tagged	$230	—	—
Exercise Warrants	not tagged	not tagged	10y	—
Dollar Two Hundred Thirty Exercise Warrants	not tagged	$230	—	—

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 4, 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: 1.0M underlying shares, as reported Dec 31, 2022 (10-K).

Rough fully diluted estimate: 12.2M = 11.2M O/S + 1.0M 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: $6.0M as of Jul 31, 2023, tagged only as a company-wide total.

This filer tagged totals without per-note dimensions in its 10-Q filed Aug 4, 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 outstanding	11.2M	Jul 31, 2026
+ Dollar Two Hundred Exercise Warrants (if exercised)	100,000	Jun 30, 2026
+ Dollar Three Hundred Exercise Warrants (if exercised)	100,000	Jun 30, 2026
Fully diluted estimate	11.4M	+1.8% 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-1Dec 5, 2023no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 1 executed · 0 registered.

EXECUTEDNov 6, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

UPDATEApr 30, 2024Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEApr 30, 2024SEC declared a registration effective — selling can beginEFFECT →

UPDATEDec 18, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEDec 15, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEDec 15, 2023SEC declared a registration effective — selling can beginEFFECT →

UPDATEDec 13, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEDec 12, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEDec 11, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEDec 8, 2023Prospectus update — often a resale registration, not necessarily new capital424B3 →

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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