Monitor daily trading volumes and VirnetX's stock price for ATM sales execution. The company is not obligated to sell any shares, but the filing gives it the ability to raise capital opportunistically. Any significant volume spikes or price weakness could indicate active ATM usage.
Price Chart
Executive Summary
VirnetX entered into an at-the-market (ATM) offering agreement with Titan Partners Securities to sell up to $19,135,717 of common stock. The filing is a routine capital raise mechanism, not a completed sale. The concurrent 424B5 prospectus supplement confirms the ATM program was launched on the same day. The potential dilution is material relative to the company's market cap, but no shares have been sold yet.
Key Facts
- VirnetX entered into an ATM offering agreement with Titan Partners Securities for up to $19,135,717 of common stock.
- The agent receives a 3% commission on gross sales proceeds.
- The ATM was launched on the same day as a 424B5 prospectus supplement (October 1, 2026).
- Proceeds are intended for product development, marketing, and general corporate purposes.
- The aggregate market value of non-affiliate-held shares was $57,407,153 as of September 29, 2026.
- The offering size represents approximately 33% of the public float, the maximum allowed under Form S-3 General Instruction I.B.6.
Financial Impact
Up to $19,135,717 in potential dilution, representing ~33% of the public float. At the September 29, 2026 closing price of $10.32, this would equate to approximately 1.85 million new shares.
Risk Factors
- Potential dilution of up to 33% of public float if the full ATM is utilized.
- ATM sales could pressure the stock price if executed aggressively.
- No guarantee of successful capital raise; proceeds are contingent on market conditions.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-038170 |
| Document: ef20082972_8k.htm | 0001140361-26-038170 |
| Document: ef20082972_ex5-1.htm | 0001140361-26-038170 |
| Document: 0001140361-26-038170-index-headers.html | 0001140361-26-038170 |
| Document: 0001140361-26-038170-index.html | 0001140361-26-038170 |
| Document: 0001140361-26-038170.txt | 0001140361-26-038170 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 26d ago | 8-K | $9.38 $12.30 | ▼ −31.13% | ▼ −29.83% | $11.32 (−20.74%) |
Oct 1, 2026 26d ago | 424B5 | $9.38 $12.30 | ▼ −31.13% | ▼ −29.83% | $11.32 (−20.74%) |
Jun 16, 2026 18w ago | 8-K | $12.49 $11.98 | ▼ −4.08% | ▼ −3.04% | $11.32 (−9.33%) |
Jun 3, 2026 20w ago | EFFECT | $15.15 $12.79 | ▲ +15.58% | ▲ +11.76% | $11.32 (+25.25%) |
May 15, 2026 23w ago | S-3 | $13.73 $13.77 | ▼ −0.29% | ▲ +1.33% | $11.32 (+17.52%) |
Apr 24, 2026 26w ago | DEFA14A | $14.44 $12.86 | ▼ −10.94% | ▼ −11.34% | $11.32 (−21.57%) |
US Market Status
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