This is a routine resale registration for acquisition-related shares. No new capital is being raised, and the selling shareholder may sell over time. Monitor for any subsequent prospectus supplement that could indicate accelerated selling, but the filing itself is not a material event.
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Executive Summary
Stem filed an S-3 registration statement to register 289,045 shares of common stock for resale by raicoon GmbH, the former owner of assets acquired by Stem. Stem will not receive any proceeds from this resale. The filing is a routine contractual obligation to register shares issued as acquisition consideration and does not represent a new capital raise by the company.
Key Facts
- Registers 289,045 shares of common stock for resale by selling shareholder raicoon GmbH.
- Shares were issued in connection with Stem's acquisition of raicoon GmbH's assets.
- Stem will not receive any proceeds from the sale of these shares.
- As of March 31, 2026, raicoon GmbH beneficially owned 389,569 shares (4.5% of outstanding).
- The maximum aggregate offering price for the registered shares is $3,391,042.32, based on a reference price of $8.7046 per share.
- Stem's market cap is approximately $91M, making the registered shares represent about 3.7% of market cap at the reference price.
Financial Impact
The registered shares represent approximately 3.4% of outstanding shares (289,045 / 8,567,751). At the reference price of $8.7046, the total potential sale value is ~$2.5M, or ~2.7% of the $91M market cap.
Risk Factors
- Potential overhang from the selling shareholder's ability to sell shares in the open market, which could create modest downward pressure on the stock price.
- The company's small market cap ($91M) and low liquidity could amplify any selling impact.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-3 Filing (Primary) | 0001758766-26-000054 |
| Exhibit: exfilingfees.htm | 0001758766-26-000054 |
| Exhibit: exhibit23-deloitteconsent.htm | 0001758766-26-000054 |
| Document: 0001758766-26-000054-index-headers.html | 0001758766-26-000054 |
| Document: 0001758766-26-000054-index.html | 0001758766-26-000054 |
| Document: 0001758766-26-000054.txt | 0001758766-26-000054 |
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Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 2d ago | 8-K | $3.03 | awaiting T+60 | — | $3.01 (+0.79%) |
Aug 10, 2026 11w ago | 144 | $5.68 | awaiting T+60 | — | $3.01 (−47.01%) |
Jul 29, 2026 12w ago | 144 | $4.95 $3.02 | ▼ −38.99% | ▼ −43.72% | $3.01 (−39.19%) |
Jun 22, 2026 17w ago | 424B5 | $7.63 $4.47 | ▼ −41.42% | ▼ −44.66% | $3.01 (−60.55%) |
Jun 11, 2026 19w ago | EFFECT | $7.57 $5.57 | ▼ −26.42% | ▼ −30.82% | $3.01 (−60.24%) |
Jun 3, 2026 20w ago | 8-K | $9.17 $5.44 | ▼ −40.68% | ▼ −42.56% | $3.01 (−67.18%) |
Jun 2, 2026 20w ago | S-3 | $9.04 $5.70 | ▼ −36.95% | ▼ −39.45% | $3.01 (−66.70%) |
May 6, 2026 24w ago | 8-K | $8.73 $5.62 | ▼ −35.62% | ▼ −39.46% | $3.01 (−65.52%) |
Apr 27, 2026 26w ago | DEFA14A | $11.29 $6.01 | ▼ −46.77% | ▼ −51.54% | $3.01 (−73.34%) |
Mar 4, 2026 33w ago | 8-K | $12.18 $10.15 | ▼ −16.67% | ▼ −27.97% | $3.01 (−75.29%) |
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