Monitor share price relative to the $2.04 warrant exercise price and the zero-exercise-price option trigger. If the stock trades below $2.04, holders may use the zero-price option, massively diluting existing shareholders. The 6-month warrant expiration creates a near-term overhang.
Price Chart
Executive Summary
DarkIris Inc. priced and closed a $6 million best-efforts public offering on October 8-9, 2026, issuing 898,965 Class A ordinary shares, 3,267,701 pre-funded warrants, and 4,166,666 common warrants with a $2.04 exercise price and a zero-exercise-price option that could issue up to 52,380,944 shares. Net proceeds were $4.59 million after fees and expenses. The offering is highly dilutive given the warrant structure and the company's small revenue base, but provides near-term working capital.
Key Facts
- Gross proceeds of $6 million from sale of 898,965 Units at $1.44/Unit and 3,267,701 Pre-Funded Units at $1.4399/Unit
- Net proceeds of $4.59 million after 5.0% placement agent fee and up to $80,000 in expenses
- Issued 4,166,666 common warrants exercisable at $2.04/share, expiring 6 months from issuance
- Zero exercise price option on warrants could result in issuance of up to 52,380,944 Class A ordinary shares
- Pre-funded warrants exercisable at $0.0001/share with 9.99% beneficial ownership blocker
- Offering closed on October 9, 2026; proceeds for working capital and general corporate purposes
Financial Impact
$6 million gross proceeds, $4.59 million net; up to 52.38 million additional shares potentially issuable via zero-exercise-price warrant option
Risk Factors
- Massive dilution from up to 52.38 million potential shares via zero-exercise-price option
- Warrant overhang may pressure stock price for 6 months
- Small revenue base makes dilution impact severe relative to fundamentals
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-046619 |
| Exhibit: ex99-1.htm | 0001493152-26-046619 |
| Document: form6-k.htm | 0001493152-26-046619 |
| Document: 0001493152-26-046619-index-headers.html | 0001493152-26-046619 |
| Document: 0001493152-26-046619-index.html | 0001493152-26-046619 |
| Document: 0001493152-26-046619.txt | 0001493152-26-046619 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 5d ago | SC 13G/A | $0.0399 $0.0450 | ▲ +12.78% | ▲ +13.96% | $1.89 (+4636.84%) |
Oct 15, 2026 10d ago | SC 13G | $0.0530 $0.0510 | ▼ −3.77% | ▼ −4.20% | $1.89 (+3466.04%) |
Oct 13, 2026 12d ago | SC 13G | $0.0815 | awaiting T+1 | — | $1.89 (+2219.02%) |
Oct 13, 2026 12d ago | SC 13G | $0.0815 | awaiting T+1 | — | $1.89 (+2219.02%) |
Oct 9, 2026 16d ago | 6-K | $0.1433 $0.0857 | ▲ +40.20% | ▲ +40.18% | $1.89 (−1218.91%) |
Oct 9, 2026 17d ago | 424B4 | $0.3424 $0.1433 | ▲ +58.15% | ▲ +58.09% | $1.89 (−451.99%) |
Oct 9, 2026 17d ago | 424B4 | $0.3424 $0.1433 | ▲ +58.15% | ▲ +58.09% | $1.89 (−451.99%) |
Oct 9, 2026 17d ago | EFFECT | $0.3424 $0.1433 | ▲ +58.15% | ▲ +58.09% | $1.89 (−451.99%) |
Oct 6, 2026 20d ago | 6-K | $68.00 $1.67 | ▲ +97.54% | ▲ +97.30% | $1.89 (+97.22%) |
Sep 30, 2026 26d ago | 6-K | $1.57 $1.29 | ▼ −17.83% | ▼ −18.01% | $1.89 (+20.38%) |
US Market Status
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