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

SWK Holdings Corp (SWKHL)

CIK 1089907 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed sub-ratings (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGHS-1/A on file 2023-09-28
= 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 = 16% 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-100% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOWoperating cash flow positive
= 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

2020-08-102026-03-16

Latest: 12.1M shares as of Mar 16, 2026 (10-K).

⊙
EVIDENCE — filed/published fact
SourceSEC XBRL, cover-page share count
Fielddei:EntityCommonStockSharesOutstanding
As of2026-03-16
HowThe newest cover-page count as filed, whatever its age. The float checker applies a 200-day freshness rule and sets this beside the balance-sheet count.
Open the source document →
Share count fell from 12.82B to 12.8M between Mar 17, 2023 and May 3, 2023, a pattern consistent with a reverse split (roughly 1-for-1000); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 1.9M underlying shares, as reported Dec 31, 2012 (10-K).

Reported exercise price: $0.43 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $101,000 as of Jun 30, 2020.

Rough fully diluted estimate: 14.0M = 12.1M O/S + 1.9M 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-K filed Mar 20, 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 outstanding12.1MMar 16, 2026
+ Warrants (aggregate, as tagged) (if exercised)1.9MDec 31, 2012
Fully diluted estimate14.0M+15.8% 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

Last 12 months: 0 executed · 0 registered.

EFFECTIVEApr 8, 2026SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEApr 8, 2026SEC declared a registration effective — selling can beginEFFECT →
EXECUTEDSep 29, 2023Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4 →
REGISTEREDSep 28, 2023S-1/A registration — capacity to sell shares, not a sale yetS-1/A →
MARKETINGSep 28, 2023Free-writing prospectus — offering being marketedFWP →
EFFECTIVESep 28, 2023SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDSep 26, 2023S-1/A registration — capacity to sell shares, not a sale yetS-1/A →
REGISTEREDSep 14, 2023S-1 registration — capacity to sell shares, not a sale yetS-1 →
EFFECTIVEMay 27, 2022SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDMay 19, 2022S-3 registration — capacity to sell shares, not a sale yetS-3 →
EFFECTIVEFeb 19, 2020SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDFeb 7, 2020S-3 registration — capacity to sell shares, not a sale yetS-3 →

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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