The shelf is now live — management can execute the ATM at any time. Watch for prospectus supplements and actual share sales via Form 424B5 filings. Traders should monitor daily volume for distribution signs.
Price Chart
Executive Summary
The SEC declared effective Niagen Bioscience's S-3 shelf registration (File No. 333-297093) on July 9, 2026, clearing the way for the company to offer up to $125M in securities including an immediate $50M ATM program. This effectiveness removes the last procedural barrier to a large dilutive offering first disclosed 13 days ago, creating immediate overhang for common shareholders.
Key Facts
- SEC effectiveness date: July 9, 2026
- S-3 shelf registration covering up to $125M in securities
- Includes $50M at-the-market (ATM) program through Canaccord Genuity and Roth Capital Partners
- Current market cap: ~$268M — offering represents up to ~47% dilution if fully drawn
- Net tangible book value disclosed at ~$76.8M in the prior S-3 filing
- Company has history of negative net income and accumulated deficits
Financial Impact
Up to $125M in potential dilution — equivalent to ~47% of current $268M market cap. Immediate $50M ATM adds ~19% dilution at current prices.
Risk Factors
- Immediate ATM execution could dump shares into market, pressuring price
- Full $125M drawdown would dilute existing holders by nearly 50%
- Company's negative net income pattern suggests cash needs may force rapid drawdown
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (Primary) | 9999999995-26-002240 |
| Document: 9999999995-26-002240-index.html | 9999999995-26-002240 |
| Document: 9999999995-26-002240.txt | 9999999995-26-002240 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 10, 2026 15w ago | 424B5 | $3.47 $2.69 | ▲ +22.48% | ▲ +26.47% | $2.44 (+29.68%) |
Jul 10, 2026 15w ago | EFFECT | $3.39 $2.68 | ▲ +20.94% | ▲ +23.58% | $2.44 (+28.02%) |
Jun 26, 2026 17w ago | S-3 | $3.30 $3.09 | ▲ +6.36% | ▲ +10.75% | $2.44 (+26.06%) |
May 6, 2026 24w ago | 8-K | $4.19 $3.53 | ▼ −15.75% | ▼ −19.58% | $2.44 (−41.77%) |
Mar 4, 2026 33w ago | 8-K | $5.10 $3.61 | ▼ −29.22% | ▼ −40.52% | $2.44 (−52.16%) |
Feb 26, 2026 34w ago | 8-K | $5.18 $3.79 | ▼ −26.83% | ▼ −34.58% | $2.44 (−52.90%) |
US Market Status
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