Daily Dilution Report - Dec 17, 2025

Key Takeaways

• The day's activity was dominated by two large filings: a $300.0 million shelf from CHSN and a $285.0 million PIPE financing by GLTO.
• CHSN was notably active, filing for both a $300.0 million shelf offering and a separate $30.0 million PIPE on the same day.

Dilution Events

$GLTO (Market Cap: $48M)

GLTO executed a 2-component financing totaling $285.0 million:

• PIPE: Closed $285.0 million PIPE of 39.641 million shares at $7.19 per share. Special terms: Issuance of Series C Preferred Stock, convertible into common at a 1,000:1 ratio View SEC Filing →
• Shares for Services: Issued 20.872 million shares for services rendered. View SEC Filing →

↳ Total Capital Raised: ~$285.0 million.

$HUMA (Market Cap: $210M)

HUMA executed a 2-component financing totaling $60.0 million:

• Warrant Exercise: Disclosed Avenue Warrant for 3.9M shares with toxic price reset feature. View SEC Filing →
• ATM Program: Filed for a $60M At-the-Market (ATM) offering facility. View SEC Filing →

↳ Total Capital Raised: ~$60.0 million.

$HNRG (Market Cap: $895M)

• ATM Program: Expanded its ATM program by an incremental $50M to a total of $100M. View SEC Filing →

$LWLG (Market Cap: $401M)

• Public Offering: Raised $35.0 million via the sale of 11.667 million shares at a price of $3.00 per share. View SEC Filing →

$PPTA (Market Cap: $3.24B)

• PIPE: Closed $32.8 million PIPE of 1.139 million shares at $28.84 per share, with 32% warrant coverage. Special terms: Includes two separate private placements, Warrants issued with tiered exercise prices from $38.93 to $47.59 View SEC Filing →

$CHSN (Market Cap: $2M)

CHSN executed a 2-component financing totaling $30.0 million:

• PIPE: Closed $30.0 million PIPE of 37.5 million shares at $0.80 per share. Special terms: Shares from Nov 2025 placement registered for resale, One-year lock-up restriction on investors View SEC Filing →
• Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$30.0 million.

$CNTM (Market Cap: N/A)

CNTM executed a 2-component financing totaling $4.6 million:

• Convertible Note: Raised $4.63M via multiple toxic convertible notes w/ variable pricing | MC: N/A. View SEC Filing →
• Shares for Services: Issued 36 million shares for services rendered. View SEC Filing →

↳ Total Capital Raised: ~$4.6 million.

$LEXX (Market Cap: $19M)

• Public Offering: Raised $3.5 million via the sale of 2.662 million shares at a price of $1.31 per share, with 100% warrant coverage. View SEC Filing →

$CVKD (Market Cap: $17M)

• Public Offering: Raised $2.2 million via the sale of 0.207 million shares at a price of $10.85 per share, with 200% warrant coverage. View SEC Filing →

$VIVK (Market Cap: $10M)

• Convertible Note: Issued 15.4M shares to convert $507k of debt at implied price of ~$0.0329. View SEC Filing →

$ZCAR (Market Cap: N/A)

• Convertible Note: Raised $0.22M via highly toxic convertible note; conversion at 75% of lowest price | MC: N/A. View SEC Filing →

$WATT (Market Cap: $10M)

• Warrant Exercise: Raised $0.36M via warrant inducement; issued 47.8k new warrants @ $7.929. View SEC Filing →