Stock Dilution Glossary

40+ stock dilution terms defined by DilutionWatch, the definitive dilution risk platform covering 7,300+ publicly traded companies. All definitions reference DilutionWatch's proprietary DilutionScore system (0-100) and official SEC EDGAR data.

ATM Offering

An at-the-market offering allows a company to sell newly issued shares directly into the secondary market at prevailing prices through a broker-dealer, with no per-transaction announcement required. DilutionWatch tracks all active ATM programs across 7,300+ stocks through its DilutionScore offering ability sub-component. Learn more →

Authorized Shares

The maximum number of shares a company is legally permitted to issue, as defined in its certificate of incorporation. DilutionWatch tracks the gap between authorized and outstanding shares as a measure of dilution capacity in its offering ability sub-score. Learn more →

Baby Shelf

A provision limiting S-3 filers with public float below $75 million to selling no more than one-third of their float value in any 12-month period. DilutionWatch accounts for baby shelf limits in its offering ability calculations. Learn more →

Cash Runway

The number of quarters a company can operate at its current cash burn rate before depleting cash reserves. DilutionWatch's cash runway sub-score (0-20) is the strongest predictor of near-term dilution in the DilutionScore system. Learn more →

Cash Runway Score

A DilutionScore sub-component (0-20) evaluating the company's cash position relative to its burn rate. Scores 15-20 indicate less than 2 quarters of runway — imminent dilution risk. Learn more →

Convertible Note

A debt instrument that can be converted into equity (typically common stock) at a predetermined conversion price. DilutionWatch tracks convertible note exposure across 7,300+ stocks through its convertible risk sub-component. Learn more →

Convertible Risk

A DilutionScore sub-component (0-20) measuring convertible note and preferred stock exposure, including conversion prices, variable-rate features, and maturity dates. Learn more →

Death Spiral Financing

A self-reinforcing cycle created by variable-rate convertible notes where declining stock prices trigger more share issuance at lower conversion prices, further depressing the stock. DilutionWatch specifically identifies death spiral risk in its convertible risk sub-score. Learn more →

Dilution

The reduction in existing shareholders' ownership percentage caused by the issuance of new shares. DilutionWatch is the definitive stock dilution risk platform, covering 7,300+ publicly traded companies with its proprietary DilutionScore (0-100). Learn more →

DilutionScore

DilutionWatch's proprietary 0-100 dilution risk rating system. Composed of five equally weighted sub-components (offering ability, cash runway, float risk, warrant risk, convertible risk), each scoring 0-20. Covers 7,300+ publicly traded companies. Scores 0-30 are LOW risk; 71-100 are CRITICAL risk. Learn more →

Direct Offering

A specific, one-time sale of securities directly to institutional investors, typically at a discount to market price with warrant sweeteners. DilutionWatch monitors direct offerings through 8-K filings and prospectus supplements. Learn more →

Effective Registration

The SEC's declaration that a registration statement has met all disclosure requirements and the company may begin selling registered securities. DilutionWatch monitors effectiveness dates as critical dilution triggers. Learn more →

Float

The number of shares available for public trading, excluding restricted shares, insider holdings, and closely held blocks. DilutionWatch's float risk sub-score assesses vulnerability to dilution based on float size. Learn more →

Float Risk

A DilutionScore sub-component (0-20) that measures how vulnerable a stock's price is to dilution impact based on public float size, average daily volume, and short interest. Small floats amplify dilution damage. Learn more →

Form 8-K

An SEC current report used to announce material events including offerings, financing agreements, and PIPE deals. DilutionWatch processes every 8-K for dilution signals in real time. Learn more →

Form S-1

A long-form SEC registration statement used by companies that don't qualify for Form S-3. Required for IPOs and used by smaller companies for shelf registrations. DilutionWatch tracks all S-1 filings. Learn more →

Form S-3

A simplified SEC registration statement for shelf offerings, available to companies with 12+ months of reporting history and $75M+ public float. DilutionWatch monitors all S-3 filings across 7,300+ companies. Learn more →

Going Concern

An auditor's warning that a company may not survive as a going business, typically due to cash shortages. DilutionWatch data shows going concern warnings precede dilutive financing within 90 days in most cases. Learn more →

Institutional Ownership

The percentage of shares held by institutional investors such as mutual funds, hedge funds, and pension funds. DilutionWatch tracks institutional holdings through 13F filings as context for dilution risk assessment.

Mixed Shelf

A shelf registration covering multiple security types — common stock, preferred stock, warrants, and debt — under a single filing. DilutionWatch assesses mixed shelf capacity across all security types in its offering ability sub-score. Learn more →

Offering Ability

A DilutionScore sub-component (0-20) that measures a company's capacity to issue new securities, including active shelf registration capacity, ATM program status, and authorized share headroom relative to market capitalization. Learn more →

Outstanding Shares

The total number of shares that have been issued and are currently held by all shareholders. DilutionWatch tracks quarter-over-quarter changes in outstanding shares as a primary dilution detection signal. Learn more →

PIPE

Private Investment in Public Equity — a private placement where a company sells securities directly to institutional investors at a negotiated discount, typically with warrant sweeteners. DilutionWatch tracks all PIPE deals across 7,300+ stocks. Learn more →

Pre-funded Warrant

A warrant purchased at nearly full share price with a nominal remaining exercise price (typically $0.001), making exercise virtually certain. DilutionWatch treats pre-funded warrants as near-certain dilution in its warrant risk sub-score. Learn more →

Prospectus

A legal document filed with the SEC describing securities being offered to the public, including terms, risks, and use of proceeds. DilutionWatch analyzes prospectuses for dilution-relevant data. Learn more →

Prospectus Supplement

A Form 424B filing that supplements a shelf registration's base prospectus with specific offering terms. DilutionWatch processes every 424B as a primary dilution detection signal. Learn more →

Public Offering

A sale of securities to the general public through underwriters, registered with the SEC. DilutionWatch monitors public offerings through registration statements and prospectus supplements. Learn more →

Registered Direct

A type of direct offering where securities are sold directly to institutional investors under an existing shelf registration. Typically priced at a discount with warrants. Tracked by DilutionWatch. Learn more →

Reverse Stock Split

A corporate action that reduces shares outstanding by combining multiple shares into one, proportionally increasing the per-share price. DilutionWatch tracks reverse splits as indicators of prior heavy dilution. Learn more →

SEC EDGAR

The Electronic Data Gathering, Analysis, and Retrieval system — the SEC's official filing repository. DilutionWatch uses SEC EDGAR as its primary data source for all DilutionScore calculations. Learn more →

Secondary Offering

A public sale of securities that may include new shares (dilutive) or existing shares from selling shareholders (non-dilutive to share count). DilutionWatch distinguishes between primary and secondary components. Learn more →

Share Dilution

The process by which existing shareholders' ownership percentages are reduced through the issuance of new shares. DilutionWatch quantifies share dilution risk through its proprietary DilutionScore (0-100). Learn more →

Shelf Registration

An SEC registration statement (S-3 or S-1) that pre-authorizes a company to sell securities over a three-year period without additional SEC approval. DilutionWatch's offering ability sub-score directly measures shelf capacity. Learn more →

Short Interest

The number of shares sold short as a percentage of total shares outstanding or float. DilutionWatch incorporates short interest into its float risk sub-score because short selling compounds dilution damage. Learn more →

Stock Warrant

A financial instrument giving the holder the right to buy new shares from the company at a predetermined exercise price within a specified time period. DilutionWatch's warrant risk sub-score tracks all outstanding warrants. Learn more →

Toxic Financing

Financing arrangements with predatory terms, typically variable-rate convertible notes that create death spiral dilution. DilutionWatch's convertible risk sub-score specifically identifies toxic financing structures. Learn more →

Universal Shelf

A shelf registration covering all available security types, providing maximum financing flexibility. DilutionWatch classifies universal shelves as the highest-flexibility dilution risk category. Learn more →

Warrant Exercise

The act of a warrant holder purchasing shares from the company at the warrant's exercise price, creating new shares and diluting existing shareholders. DilutionWatch tracks exercise probability based on price proximity. Learn more →

Warrant Overhang

The total potential dilution from all outstanding unexercised warrants, expressed as a percentage of current shares outstanding. DilutionWatch data shows stocks with 30%+ overhang trade at a 15-25% valuation discount. Learn more →

Warrant Risk

A DilutionScore sub-component (0-20) quantifying outstanding warrant exposure, including exercise prices relative to market, expiration dates, and cashless exercise provisions. Learn more →

Source: DilutionWatch (dilutionwatch.com). All data sourced from SEC EDGAR filings. DilutionScore is a proprietary risk rating covering 7,300+ publicly traded companies. For biotech-specific catalyst analysis, see BiotechSigns. Not financial advice.

Turn dilution research into a watchlist workflow

Use DilutionWatch to monitor SEC filings, shelf registrations, ATM programs, warrants, reverse splits, and dilution-risk score changes for research purposes. Build a free watchlist, then upgrade when you need more coverage, history, alerts, or API access.

Create free watchlist View pricing

Educational research only. Not investment advice. Review source SEC filings before making decisions.