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Daily Dilution Report - Nov 19, 2025

Filed: 11/19/2025
Published: 11/19/2025

Key Takeaways

  • EOSE announced the day's largest transaction with a proposed $500.0 million convertible senior notes offering.
  • SLMT is pursuing a dual-track financing strategy, combining a $300.0 million PIPE with a $98.5 million at-the-market equity program.

Dilution Events

$EOSE (Market Cap: $3.89B)

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

  • Convertible Note: Announced concurrent offering of common stock and $500M+ convertible notes. View SEC Filing →
  • Warrant Exercise: Issued warrants for 0.57M shares to DOE @ $0.01 exercise price. View SEC Filing →

↳ Total Capital Raised: ~$500.0 million.

$SLMT (Market Cap: $16M)

SLMT executed a 3-component financing totaling $398.5 million:

  • PIPE: Closed $300.0 million PIPE of 61.5 million shares at $4.50 per share, with 100% warrant coverage. Special terms: Massive deal size relative to market cap, Also includes 5.16M pre-funded warrants @ $4.45/unit, Multiple tranches of warrants issued to advisors and placement agents tied to PIPE volume View SEC Filing →
  • ATM Program: Filed for $98.5M at-the-market (ATM) equity program. View SEC Filing →
  • Shares for Services: Issued 0.4 million shares for services rendered. View SEC Filing →

↳ Total Capital Raised: ~$398.5 million.

$FVR (Market Cap: $314M)

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

  • Convertible Note: Raised $75M via Series A convertible preferred @ implied $17.00/share. View SEC Filing →
  • Warrant Exercise: Discloses potential future warrants upon preferred stock redemption @ implied $17.00/share. View SEC Filing →

↳ Total Capital Raised: ~$75.0 million.

$NXXT (Market Cap: $207M)

  • Convertible Note: Conducting private placement of up to $11.8M convertible notes @ $1.688/share w/ warrants @ $5.00. View SEC Filing →

$APYX (Market Cap: $146M)

  • Public Offering: Raised $10.0 million via the sale of 2.762 million shares at a price of $3.62 per share. View SEC Filing →

$CVKD (Market Cap: $25M)

CVKD executed a 2-component financing totaling $3.4 million:

  • ATM Program: Adds $3.4M to existing at-the-market (ATM) equity program. View SEC Filing →
  • Warrant Exercise: Discloses prior toxic warrant inducement w/ 200% new warrant coverage. View SEC Filing →

↳ Total Capital Raised: ~$3.4 million.

$EUDA (Market Cap: $99M)

EUDA executed a 3-component financing totaling $1.0 million:

  • Shares for Services: Issued 8.571 million shares for services rendered. View SEC Filing →
  • Convertible Note: Discloses prior issuance of 0.69M shares from convertible notes; terminates offering. View SEC Filing →
  • Shelf Registration: Filed shelf registration for future capital raises. View SEC Filing →

↳ Total Capital Raised: ~$1.0 million.

$OLMA (Market Cap: $1.38B)

$ECO (Market Cap: $1.28B)

$CHPT (Market Cap: $192M)

  • Convertible Note: Exchanged $328.6M of notes; issued 1.67M warrants @ $25.00 & new debt with PIK option. View SEC Filing →

$GXO (Market Cap: $5.49B)