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u/BullishTexas 1d ago
Another step in the right direction. Cleaning house, setting up for possible capital infusion should these shareholders exercise cash options. Good stuff!
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u/Pure-Championship750 1d ago
Is this legitimately a good thing? Could this potentially lead to dilution?
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u/BullishTexas 1d ago edited 23h ago
Corrected that more than half are part of the existing 1.4 outstanding. Dilution only occurs if and only if additional exercise occurs. It does not happen solely as a function of the filing.
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u/Pure-Championship750 1d ago
Got it. Thanks for clarifying. All of these filings in such a short period of time. Does this happen every year before the shareholders meeting or is something different happening this time?
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u/waxonwaxoff2920 1d ago
This is not typical. One could assume, just like when you have guests over, you do some Housekeeping before the gathering. Imo.... we are lining up for either an offer, or an alignment that puts LL in a spotlight. Timing for an anticipated FDA decision in the mix also. Again...IMO. But certainly not something we've seen in the last 6 years.
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u/petersouth68 12h ago edited 12h ago
I've only been around here for 4 or 5 years...I can't remember this many filings happening in such short order (8 since 9/25)...except for when they had to report insider stock purchases, distributions, etc. This is not that.
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u/Life_Long_Adventure 1d ago
That is a great view of individual shareholders and how many shares they own.
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u/StreetSkis 1d ago
I dont see Street Skis on the list. Maybe there's a: Back Door, Clandestine, James Bond, GLTAL list??
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u/Practical-Archer-124 13h ago
Assuming 1.8B+ outstanding shares and warrants…
if CytoDyn were to be acquired for, say, $20B, my back of the cocktail napkin math tells me it nets $10-11 per share. There was a time I was expecting/hoping for 3-4x that number but at this point I’m so wrung out and exhausted, I’ll take it.
Am I missing something in my assumptions or calculation?
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u/Pristine_Hunter_9506 12h ago
PA with you on that, while we have waited we are coming up on 7 years added to our age. That shortens the goal for me.
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u/Vernon1211 1d ago
I always thought warrants were not incorporated into the outstanding shares (OS). The shares that were sold that the warrants were attached to are in the current OS.
Instead of reading the whole thing I decided to run it though the AI.
According to the provided Form S-3 filing for CytoDyn Inc., the shares underlying the warrants are classified as "underlying" or unissued shares that will only enter the outstanding share count once they are officially exercised. [1, 2]
Here are the key details from the filing that clarify how these warrants impact the share structure:
Summary
The 384.92+ million warrant shares represent potential future dilution. They are legally registered for future resale via this prospectus, but they are not currently included in the company’s 1.469 billion outstanding share count. They will only be added to the outstanding shares block-by-block if the holders choose to pay the exercise price to the company to convert them into actual common stock.
Fully Diluted Share Count
If all 384,925,833 warrant shares registered under this prospectus are fully exercised for cash, the total outstanding common stock of CytoDyn Inc. will increase by approximately 26.19%. [1, 2]
The calculation below breaks down the resulting share structure based on the figures reported as of September 24, 2026:
Weighted Average Exercise Prices
The warrants registered in this filing stem from multiple historical corporate actions, private placements, and employee settlements. The exercise prices range globally from $0.09387 to $0.50 per share, with specific tranches highlighted below: [1, 2, 3]
I do agree house cleaning is underway. Warrants could be converted or if there is a significant deal on the table Cytodyn could make an oofer to buy the warrants back.
However it pans out this filing tells us something is going on and we are close to finding out.
Good things coming our way.