Key Takeaways

Convertible note offerings dominated the day's activity, led by ETHZ's $516.1 million deal and SPCE's $212.5 million financing.
Significant shelf registration activity occurred, with CAMP, CUE, and CGTX each filing for $300 million in potential future offerings.
CAMP and ATHA were notable for filing multiple financings, combining shelf, ATM, and PIPE offerings to access capital.

Dilution Events

$ETHZ (Market Cap: $137M)

ETHZ executed a 3-component financing totaling $516.1 million:

Shares for Services: Issued 2.727 million shares for services rendered. View SEC Filing →
ATM Program: Has active ATM program with undisclosed capacity. View SEC Filing →
Convertible Note: Has massive $516M convertible note overhang, representing 169.2M potential shares. View SEC Filing →

↳ Total Capital Raised: ~$516.1 million.

$SPCE (Market Cap: $207M)

SPCE executed a 3-component financing totaling $212.5 million:

Public Offering: Offering of 10.6 million shares. View SEC Filing →
Warrant Exercise: Issued warrants for 31.7M shares @ $6.696 alongside $212.5M debt deal. View SEC Filing →
Convertible Note: New $212.5M debt allows company to use stock for redemptions. View SEC Filing →

↳ Total Capital Raised: ~$212.5 million.

$ATHA (Market Cap: $27M)

ATHA executed a 3-component financing totaling $165.0 million:

PIPE: Closed $90.0 million PIPE of 14.17 million shares at $6.35 per share, with 312.5% warrant coverage. Special terms: Includes 5.36M common shares and 8.82M pre-funded warrants, Series B warrants are cashless exercise only, Registration rights with liquidated damages View SEC Filing →
Shares for Services: Issued 5.5 million shares for services rendered. View SEC Filing →
ATM Program: Has an unused $75M ATM program available for future sales. View SEC Filing →

↳ Total Capital Raised: ~$165.0 million.

$VOR (Market Cap: $280M)

VOR executed a 2-component financing totaling $150.0 million:

PIPE: Closed $150.0 million PIPE of 13.876 million shares at $10.81 per share. Special terms: Registration rights with liquidated damages View SEC Filing →
Shares for Services: Issued 0.006 million shares for services rendered. View SEC Filing →

↳ Total Capital Raised: ~$150.0 million.

$CAMP (Market Cap: $291M)

CAMP executed a 5-component financing totaling $130.0 million:

Public Offering: Raised $30.0 million via the sale of 5 million shares at a price of $6.00 per share. View SEC Filing →
PIPE: Closed private placement (PIPE) of 32.72 million shares. Special terms: Issuance contingent on pre-specified milestones View SEC Filing →
ATM Program: Has $100M remaining on its ATM program, sales may resume 30 days post-offering. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →
Warrant Exercise: Has 6M shares underlying existing pre-funded warrants with $0.0001 exercise price. View SEC Filing →

↳ Total Capital Raised: ~$130.0 million.

$CGCT (Market Cap: $355M)

CGCT executed a 3-component financing totaling $100.0 million:

PIPE: Closed $100.0 million PIPE at $10.00 per share. Special terms: $75M from institutional investor, $25M from sponsor View SEC Filing →
Warrant Exercise: Planning to amend warrant agreement to convert public warrants into common stock. View SEC Filing →
Shares for Services: Issued shares for services/fees. View SEC Filing →

↳ Total Capital Raised: ~$100.0 million.

$CGTX (Market Cap: $132M)

CGTX executed a 2-component financing totaling $75.0 million:

ATM Program: Establishes new $75M ATM facility with Jefferies. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$75.0 million.

$KLRS (Market Cap: $195M)

PIPE: Closed $50.0 million PIPE of 5 million shares at $10.00 per share. Special terms: Includes 4.2M shares and 0.8M pre-funded warrants, Registration rights with liquidated damages View SEC Filing →

$CUE (Market Cap: $27M)

CUE executed a 4-component financing totaling $35.7 million:

Public Offering: . View SEC Filing →
Warrant Exercise: Discloses existing overhang of 59M shares from warrants and options. View SEC Filing →
ATM Program: Has $35.7M remaining on active ATM program. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$35.7 million.

$BURU (Market Cap: $90M)

PIPE: Closed $23.3 million PIPE of 230 million shares. Special terms: 80M warrants at $0.01 exercise price, 100M warrants at $0.25 exercise price, Issuance above 19.99% requires shareholder approval View SEC Filing →

$DFSC (Market Cap: $3M)

DFSC executed a 2-component financing totaling $2.1 million:

Public Offering: Raised $2.1 million via the sale of 0.566 million shares at a price of $3.64 per share, with 100% warrant coverage. View SEC Filing →
Warrant Exercise: Issued 42k placement agent warrants @ CAD$4.55. View SEC Filing →

↳ Total Capital Raised: ~$2.1 million.

$SONM (Market Cap: $7M)

SONM executed a 3-component financing totaling $1.2 million:

Convertible Note: Issued $1.2M toxic conv. note w/ full ratchet & floating conversion at 80% of closing price. View SEC Filing →
Shares for Services: Issued 0.223 million shares for services rendered. View SEC Filing →
Shares for Services: Issued 0.1485 million shares for services rendered. View SEC Filing →

↳ Total Capital Raised: ~$1.2 million.

$TRNR (Market Cap: $4M)

TRNR executed a 2-component financing totaling $260 thousand:

Convertible Note: Issued $260k toxic death-spiral note, converts at 85% of lowest VWAP in 10 days. View SEC Filing →
Warrant Exercise: Issued warrants for 79.8k shares @ $2.755 alongside toxic note. View SEC Filing →

↳ Total Capital Raised: ~$260 thousand.