The company continues to tap the ATM aggressively, having sold $5.4 million in just over two months. The incremental $950,000 authorization signals ongoing cash needs. Monitor the pace of future ATM sales and any associated business updates (e.g., cash runway, operating results) to assess whether dilution will persist.
Price Chart
Executive Summary
Super League Enterprise filed Amendment No. 3 to its ATM prospectus supplement, increasing the aggregate offering amount under the Sales Agreement with Benchmark and StoneX by $950,000 to a total of $6,421,000. The company has already sold 1,169,217 shares for gross proceeds of approximately $5.4 million under this program. This incremental offering represents roughly 4.9% of the public float of $19.3 million, adding further dilution pressure on existing shareholders.
Key Facts
- Amendment No. 3 increases the aggregate ATM offering from $5.4 million (already sold) to $6,421,000, adding $950,000 in potential new sales.
- Since entering the Sales Agreement on August 18, 2026, the company has sold 1,169,217 shares for gross proceeds of approximately $5.4 million.
- Public float is approximately $19.26 million (3,226,483 non-affiliate shares at $5.97 per share).
- The additional $950,000 offering represents about 4.9% of the public float.
- The company is a smaller reporting company with a public float below $75 million, limiting primary offerings to one-third of public float in any 12-month period.
Financial Impact
Up to $950,000 in additional common stock sales under the ATM program, representing ~4.9% of the public float. Combined with $5.4 million already sold, total potential dilution from this program is $6,421,000.
Risk Factors
- Continued ATM sales will further dilute existing shareholders.
- The company's small public float ($19.3M) means even modest ATM sales can have outsized price impact.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001437749-26-033132 |
| Document: 0001437749-26-033132-index-headers.html | 0001437749-26-033132 |
| Document: 0001437749-26-033132-index.html | 0001437749-26-033132 |
| Document: 0001437749-26-033132.txt | 0001437749-26-033132 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 8-K | $5.71 | awaiting T+5 | — | $5.36 (−6.13%) |
Oct 21, 2026 5d ago | 8-K | $5.57 | awaiting T+5 | — | $5.36 (+3.77%) |
Oct 21, 2026 5d ago | 424B5 | $5.57 | awaiting T+5 | — | $5.36 (+3.77%) |
Oct 19, 2026 8d ago | 8-K | $4.80 $5.67 | ▲ +18.13% | ▲ +18.27% | $5.36 (+11.67%) |
Oct 15, 2026 11d ago | DEFA14A | $4.65 $5.57 | ▲ +19.78% | ▲ +20.80% | $5.36 (+15.27%) |
Oct 13, 2026 13d ago | Press Release | $4.88 $5.45 | ▲ +11.68% | ▲ +12.83% | $5.36 (+9.84%) |
Oct 13, 2026 14d ago | 8-K | $4.88 $5.45 | ▲ +11.68% | ▲ +12.83% | $5.36 (+9.84%) |
Oct 9, 2026 17d ago | DEFA14A | $4.86 $4.80 | ▼ −1.23% | ▲ +0.26% | $5.36 (+10.29%) |
Oct 6, 2026 21d ago | DEFA14A | $5.03 $4.88 | ▼ −2.98% | ▼ −2.84% | $5.36 (+6.56%) |
Sep 30, 2026 26d ago | SC 13D/A | $5.42 $4.77 | ▼ −11.99% | ▼ −13.29% | $5.36 (−1.11%) |
US Market Status
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