The continuous conversion of the Lind notes into equity continues to dilute VNRX's existing shareholders. With $9.9M in original principal still outstanding under the notes, further conversion-driven dilution is likely. Traders should monitor for additional conversion notices and assess whether operating cash flows can retire the notes without further share issuance.
Price Chart
Executive Summary
VolitionRx issued an aggregate of 779,371 shares to Lind Global Asset Management XII LLC between July 14 and August 6, 2026, to satisfy $750,000 in payment and conversion obligations under previously issued senior secured convertible promissory notes. The share issuances represent ongoing dilution from the company's outstanding convertible debt, though the 779k shares are sizable relative to the company's $9M market cap.
Key Financial Metrics
Key Facts
- VolitionRx issued 779,371 shares to Lind Global Asset Management XII LLC across three tranches between Jul 14 and Aug 6, 2026.
- Issuances were to satisfy $133,333 (Jul 14), $416,666 (Jul 16), and $200,000 (Aug 6) payment/conversion obligations under convertible promissory notes.
- The convertible notes had original principal amounts of $7,500,000 and $2,400,000, per the securities purchase agreement dated May 15, 2025.
- Shares were issued under Section 3(a)(9) / 4(a)(2) / Rule 506 exemptions — no public offering or commissions.
- VolitionRx has a ~$9M market cap; the 779k shares represent a material percentage of outstanding shares.
Financial Impact
779,371 shares issued to satisfy $750,000 in obligations; dilution likely material given the ~$9M market cap.
Risk Factors
- Further dilution as remaining convertible note balance (~$9.9M original principal) may be converted into common stock.
- Ongoing reliance on convertible debt financing signals potential cash constraints for a sub-$10M market cap company.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001477932-26-004778 |
| Document: 0001477932-26-004778-index-headers.html | 0001477932-26-004778 |
| Document: 0001477932-26-004778-index.html | 0001477932-26-004778 |
| Document: 0001477932-26-004778.txt | 0001477932-26-004778 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 25, 2026 4w ago | 8-K | $0.2529 | awaiting T+60 | — | $0.1786 (+29.38%) |
Sep 16, 2026 5w ago | SC 13D/A | $0.2849 | awaiting T+60 | — | $0.1786 (−37.31%) |
Sep 15, 2026 5w ago | 8-K | $0.2749 | awaiting T+60 | — | $0.1786 (+35.03%) |
Sep 11, 2026 6w ago | EFFECT | $0.3102 | awaiting T+60 | — | $0.1786 (+42.42%) |
Sep 8, 2026 6w ago | S-3/A | $0.3400 | awaiting T+60 | — | $0.1786 (+47.47%) |
Sep 1, 2026 7w ago | 8-K | $0.3800 | awaiting T+60 | — | $0.1786 (+53.00%) |
Aug 24, 2026 8w ago | 8-K | $0.3846 | awaiting T+60 | — | $0.1786 (+53.56%) |
Aug 7, 2026 11w ago | 8-K | $0.7700 | awaiting T+60 | — | $0.1786 (+76.81%) |
Jul 20, 2026 14w ago | EFFECT | $1.13 $0.1847 | ▲ +83.65% | ▲ +88.50% | $0.1786 (+84.19%) |
Jun 18, 2026 18w ago | 8-K | $1.34 | awaiting T+60 | — | $0.1786 (+86.67%) |
US Market Status
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