Massive dilution overhang from this ATM and the prior Armistice resale registration will likely pressure AMIX shares. Monitor daily volume and ATM sales disclosures to gauge actual dilution pace. The going concern and delisting risk (MVLS rule) add downside catalysts. Avoid long positions until the ATM is exhausted or the company provides a clear path to revenue.
Price Chart
Executive Summary
Autonomix Medical filed a 424B5 prospectus supplement to sell up to $10.525 million of common stock via an at-the-market (ATM) offering through Ladenburg Thalmann. At the current price of $4.58/share, this could add up to ~2.3M new shares, representing ~117% dilution to the current 1.96M share count. The company has a going concern opinion, no product revenue, and has already sold $1.23M under the shelf's I.B.6 limit in the past 12 months. This filing, combined with the prior S-3 registering 1.07M shares for Armistice Capital resale (58.6% dilution), creates massive overhang on an $8M market cap stock.
Key Facts
- Up to $10.525M of common stock may be sold via ATM through Ladenburg Thalmann at 3% commission
- At $4.58/share, maximum issuance of ~2.3M shares would increase outstanding from 1,959,938 to ~4.26M shares (~117% dilution)
- Company has a going concern opinion from its auditor (Forvis Mazars) and no product revenue
- Prior S-3 (Sept 4, 2026) registered 1,071,826 shares for Armistice Capital resale, representing ~58.6% additional potential dilution
- Only $1,227,732 of the one-third-of-public-float limit has been used in the prior 12 months, leaving room for this larger ATM
- Nasdaq MVLS rule (stayed) could trigger immediate delisting if MVLS falls below $5M for 30 consecutive days
Financial Impact
Up to $10.525M gross proceeds; at current price, ~117% dilution to existing shareholders; combined with prior S-3 resale registration, total potential overhang exceeds 175% of current float
Risk Factors
- Massive dilution (~117% from this ATM alone, plus ~58.6% from prior S-3 resale)
- Going concern opinion — company may not survive without this capital
- Nasdaq MVLS delisting risk if rule takes effect and MVLS drops below $5M
- No product revenue and clinical trial enrollment paused
- ATM sales at market prices create continuous downward price pressure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001437749-26-030188 |
| Document: 0001437749-26-030188-index-headers.html | 0001437749-26-030188 |
| Document: 0001437749-26-030188-index.html | 0001437749-26-030188 |
| Document: 0001437749-26-030188.txt | 0001437749-26-030188 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 12d ago | 3 | $3.01 | awaiting T+20 | — | $2.36 (−21.76%) |
Oct 2, 2026 24d ago | Press Release | $3.78 | awaiting T+20 | — | $2.36 (−37.70%) |
Sep 16, 2026 5w ago | 8-K | $4.12 $3.01 | ▼ −26.94% | ▼ −30.12% | $2.36 (−42.84%) |
Sep 16, 2026 5w ago | EFFECT | $4.12 $3.01 | ▲ +26.94% | ▲ +30.12% | $2.36 (+42.84%) |
Sep 11, 2026 6w ago | 424B5 | $4.33 $3.10 | ▲ +28.41% | ▲ +30.67% | $2.36 (+45.61%) |
Sep 4, 2026 7w ago | S-3 | $4.58 $3.47 | ▲ +24.24% | ▲ +25.95% | $2.36 (+48.58%) |
Aug 26, 2026 8w ago | 8-K | $5.63 $4.07 | ▼ −27.71% | ▼ −27.20% | $2.36 (−58.17%) |
Aug 5, 2026 11w ago | EFFECT | $12.10 $4.50 | ▼ −62.81% | ▼ −62.21% | $2.36 (−80.54%) |
Jul 28, 2026 12w ago | 8-K | $2.75 $7.19 | ▲ +161.45% | ▲ +158.07% | $2.36 (−14.36%) |
Jul 15, 2026 14w ago | 8-K | $4.92 $6.86 | ▼ −39.43% | ▼ −35.81% | $2.36 (+52.13%) |
US Market Status
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