Key Takeaways

HYPD and GPUS filed for substantial future raises, combining billion-dollar shelf registrations with ATM programs of $500 million and $125 million, respectively.
Ionis Pharmaceuticals (IONS) was notably active, raising $770 million via convertible notes while concurrently authorizing a $200 million share buyback.

Dilution Events

$IONS (Market Cap: $11.87B)

IONS executed a 2-component financing totaling $770.0 million:

Convertible Note: Issued $770M of 0.00% convertible senior notes due 2030. View SEC Filing →
Share Buyback: Repurchased $200.0 million. View SEC Filing →

↳ Total Capital Raised: ~$770.0 million.

$HYPD (Market Cap: $42M)

HYPD executed a 2-component financing totaling $500.0 million:

ATM Program: Has $500M ATM offering program active. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$500.0 million.

$NUVL (Market Cap: $7.85B)

NUVL executed a 2-component financing totaling $500.0 million:

Public Offering: Raised $500.0 million. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$500.0 million.

$HASI (Market Cap: $4.16B)

HASI executed a 2-component financing totaling $403.0 million:

Convertible Note: Has $403M of outstanding 3.75% exchangeable senior notes due 2028. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$403.0 million.

$GPUS (Market Cap: $78M)

GPUS executed a 4-component financing totaling $200.0 million:

ATM Program: Sold 255.5M shares for $125M via active ATM program. View SEC Filing →
Convertible Note: Issued multiple series of toxic conv. preferred (B, C, G, H) for >$75M. View SEC Filing →
Convertible Note: Recently converted numerous notes, issuing over 9M shares for debt. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$200.0 million.

$ORGN (Market Cap: $73M)

Convertible Note: Offering up to $100M in toxic senior secured convertible notes. View SEC Filing →

$IVVD (Market Cap: $662M)

IVVD executed a 3-component financing totaling $75.0 million:

Public Offering: . View SEC Filing →
ATM Program: Has active $75M ATM program; sold 32M shares for $72.7M recently. View SEC Filing →
Warrant Exercise: Has significant overhang from 21.3M pre-funded wrts @ $0.0001. View SEC Filing →

↳ Total Capital Raised: ~$75.0 million.

$NYXH (Market Cap: $179M)

NYXH executed a 4-component financing totaling $72.7 million:

Public Offering: Raised $5.6 million via the sale of 1.216 million shares at a price of $4.63 per share. View SEC Filing →
PIPE: Closed $18.4 million PIPE of 4.266 million shares at $4.31 per share. Special terms: Unregistered shares (Reg S) View SEC Filing →
Convertible Note: Issuing up to €45M in toxic amortizing convertible notes. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$72.7 million.

$TE (Market Cap: $675M)

TE executed a 2-component financing totaling $50.0 million:

Resale Registration: Filed to register resale of 21.5M common shares for major investor. View SEC Filing →
Convertible Note: Issued $50M in convertible preferred stock; conv prices $1.70-$1.90. View SEC Filing →

↳ Total Capital Raised: ~$50.0 million.

$FENCF (Market Cap: N/A)

FENCF executed a 4-component financing totaling $40.0 million:

Public Offering: Raised $35.0 million via the sale of 4.667 million shares at a price of $7.50 per share. View SEC Filing →
Public Offering: Raised $5.0 million via the sale of 0.667 million shares at a price of $7.50 per share. View SEC Filing →
Share Buyback: Repurchased $21.7 million. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$40.0 million.

$VSEE (Market Cap: $12M)

VSEE executed a 2-component financing totaling $25.6 million:

Convertible Note: Exchanged $612k in debt for 941k shares. View SEC Filing →
ATM Program: Entered $25M toxic ELOC at 4-6% discount to VWAP + 300k fee shares. View SEC Filing →

↳ Total Capital Raised: ~$25.6 million.

$NXTC (Market Cap: $27M)

PIPE: Closed $21.5 million PIPE of 0.708 million shares at $8.52 per share. Special terms: Beneficial ownership limitation (4.99%/9.99%) View SEC Filing →

$WKSP (Market Cap: $16M)

WKSP executed a 4-component financing totaling $14.0 million:

Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →
ATM Program: Has active $4M ATM offering program. View SEC Filing →
Public Offering: Raised $10.0 million via the sale of 3.075 million shares at a price of $3.25 per share. View SEC Filing →
Warrant Exercise: Issued 1.42M inducement warrants @ $6.502 to sweeten prior exercise. View SEC Filing →

↳ Total Capital Raised: ~$14.0 million.

$CMND (Market Cap: $2M)

CMND executed a 3-component financing totaling $3.9 million:

Public Offering: Raised $1.4 million via the sale of 3.99 million shares at a price of $0.25 per share. View SEC Filing →
Convertible Note: Converted $2.5M of toxic conv. notes into 5.17M shares. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$3.9 million.

$TNON (Market Cap: $10M)

PIPE: Closed $2.9 million PIPE of 2.218 million shares at $1.28 per share. Special terms: Registration rights granted View SEC Filing →

$ENSC (Market Cap: $6M)

Convertible Note: Raised $1.7M via Series B Preferred conv @ $2.50 w/ 880k wrts @ $2.50. View SEC Filing →

$PRKR (Market Cap: N/A)

PRKR executed a 2-component financing totaling $1.0 million:

Public Offering: Raised $1.0 million via the sale of 4.762 million shares at a price of $0.21 per share. View SEC Filing →
Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$1.0 million.

$FNGR (Market Cap: $78M)

FNGR executed a 2-component financing totaling $285 thousand:

PIPE: Closed $285 thousand PIPE of 0.19 million shares at $1.50 per share. Special terms: Offshore transaction (Regulation S) View SEC Filing →
Warrant Exercise: Board approved dividend of warrants to shareholders, terms TBD. View SEC Filing →

↳ Total Capital Raised: ~$285 thousand.