Core AI Holdings (CHAI) has 19,922,402 shares outstanding. The company has zero ATM remaining capacity. The public float is 5,368,290 shares, with a short interest of 7.1% of that float. The cash runway is 3.5 months. The 424B5 filing on June 11, 2026, signals a new dilution event. The DilutionWatch score is 65/100, a high risk. The score has increased by 4 points in recent weeks.
The ATM program is effectively dead. There is no remaining capacity, and the company has no shelf registration to fall back on. The lack of capital raising tools is a red flag. The company’s cash runway is 3.5 months, meaning it must raise capital soon. The only way to do so is through an ATM, which is currently unavailable. That math is brutal.
Shares outstanding have grown by 3,392.3% over the past three years. This is classified as "severe_dilution_+3392.3pct_-20pt_offering." The company has a history of dilution, with one event in the past 12 months. The 424B5 filing on June 11 was a repeat of an earlier pattern, leading to a -3 point penalty on the DilutionWatch score. The pattern repeats.
CHAI has no remaining ATM capacity. The program is exhausted. This means the company cannot raise capital through the ATM unless it files a new S-3 or other shelf registration. The public float is 5,368,290 shares. At current share prices, selling even a fraction of the float would cause significant dilution. The short interest is 7.1% of the float, meaning 380,000+ shares are bet against the stock. That is not a small number.
The company’s cash runway is 3.5 months. That is a very short time to raise capital. If the company cannot raise funds, it may be forced to issue new shares at a discount. The lack of ATM capacity makes this scenario more likely. The company has no warrants or convertibles outstanding, so dilution would come from new shares. The float is small, so even a modest issuance would be meaningful. Watch the cash, not the price.
The 424B5 filing on June 11 was a warning shot. It signaled that the company is in urgent need of capital. The filing was the only dilution event in the past 12 months. However, the score penalty of -3 points for repeat dilution suggests that the company has a history of this. The score is already high, and the risk is increasing. The company has no other capital structure options available. The pressure is mounting.
Management has no other capital structure options. The ATM is the only way to raise money, but it is currently unavailable. The company has no warrants or convertibles to tap. The public float is small, and the short interest is high. This is a dangerous combination. The cash runway is 3.5 months, which is extremely short. The company must raise capital soon, or it will be forced to issue shares at a discount. The pressure is real.
The company’s burn rate is not disclosed, but the cash runway is 3.5 months. That implies a high burn rate. If the company continues to burn cash at this pace, it will need to raise capital soon. The only available option is an ATM, which is currently unavailable. This creates a liquidity crisis. The company has no other options. The urgency is clear.
The company’s dilution history is a red flag. The 424B5 filing was the only event in the past 12 months, but the score penalty indicates a pattern. The company has a history of dilution, and the recent filing suggests that the pattern is repeating. The management team is under pressure to raise capital, and the lack of other options means they have no choice but to issue shares. The risk is high, and the cost is steep.
If the full ATM were used, the per-share dilution would be significant. The company has 19,922,402 shares outstanding. The public float is 5,368,290 shares. If the company issued 10% of the float, that would be 536,829 shares. At a $5 share price, that would be $2.68M in capital raised. But the actual impact would be higher due to the small float. The per-share value would drop dramatically. The math is brutal.
The company’s share count has grown by 3,392.3% over the past three years. That is a staggering increase. The growth classification is "severe_dilution_+3392.3pct_-20pt_offering," which is a warning. The company has no warrants or convertibles to dilute, so any new shares would come from the equity market. The float is small, so even a modest issuance would be meaningful. The per-share value would drop, and the stock would be under pressure. The pattern repeats.
The company has no other capital structure options. The ATM is the only way to raise money, but it is currently unavailable. The short interest is high, and the cash runway is 3.5 months. The pressure is immense. The company has no choice but to issue shares. The per-share value would drop, and the stock would be under pressure. The risk is high, and the cost is steep.
CHAI has one dilution event in the past 12 months. The 424B5 filing on June 11 was the only event. However, the score penalty of -3 points for repeat dilution suggests that the company has a history of this. The DilutionWatch score is 65/100, which is a high risk. The score has increased by 4 points in recent weeks, indicating that the risk is growing. The pattern repeats.
The company has a history of dilution, but the recent filing was the only one in the past 12 months. That suggests that the company is not a serial diluter. However, the score penalty indicates that the company has a pattern. The lack of other capital structure options means that the company is under pressure to raise capital. The urgency is real. The risk is growing.
The company has no warrants or convertibles to tap. The public float is small. The short interest is high. The cash runway is 3.5 months. The pressure is immense. The company has no other options. The risk is high, and the cost is steep. The pattern repeats. The risk is growing.
The DilutionWatch score is 65/100, a high risk. The score has increased by 4 points in recent weeks. The score penalty of -3 points for repeat dilution indicates that the company has a history of this. The offering ability is 60/100, which is a medium risk. The cash runway is 85/100, which is a low risk. The float risk is 65/100, which is a medium risk. The warrant and convertible risk are 40/100, which is a low risk. The score is high, and the risk is growing.
The score is high due to the company’s cash runway and dilution history. The cash runway is 3.5 months, which is extremely short. The company must raise capital soon. The dilution history is a red flag. The company has a history of this, and the recent filing suggests that the pattern is repeating. The score is high, and the risk is growing.
The score is high due to the company’s cash runway and dilution history. The score is a warning. The company has no other capital structure options. The pressure is immense. The risk is high, and the cost is steep. The score is high, and the risk is growing. The pattern repeats. The risk is growing.
If the company raises $20M at market price before the ATM is triggered, the dilution would be significant. The public float is 5,368,290 shares. A $20M raise at $5 per share would be 4 million shares. That would increase the share count by 75%, which would be a disaster for existing shareholders. The float is small, so even a modest raise would be meaningful. The math is brutal.
If the company fails to raise capital, it may be forced to issue shares at a discount. The cash runway is 3.5 months, which is extremely short. The company has no other capital structure options. The pressure is immense. The risk is high, and the cost is steep. The pattern repeats. The risk is growing.
The ATM offering is a serious overhang. The company has no remaining capacity, and the cash runway is 3.5 months. The pressure to raise capital is immense. The company has no other options. The risk is high, and the cost is steep. The pattern repeats. The risk is growing.
The company’s share count has grown by 3,392.3% over the past three years. That is a staggering increase. The growth classification is "severe_dilution_+3392.3pct_-20pt_offering," which is a warning. The company has no warrants or convertibles to dilute, so any new shares would come from the equity market. The float is small, so even a modest issuance would be meaningful. The per-share value would drop, and the stock would be under pressure. The risk is high, and the cost is steep.
The company has no other capital structure options. The ATM is the only way to raise money, but it is currently unavailable. The short interest is high, and the cash runway is 3.5 months. The pressure is immense. The company has no choice but to issue shares. The per-share value would drop, and the stock would be under pressure. The risk is high, and the cost is steep. The pattern repeats. The risk is growing.
My read: This is a high-risk situation. The company has no ATM capacity, a 3.5-month cash runway, and a history of dilution. The float is small, and the short interest is high. The risk is growing. The most important trigger to watch is a new capital raise within 90 days. If the stock price holds above $5, expect an S-3 drawdown. That would be a disaster for existing shareholders. Watch for it.
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