BJDXBluejay Diagnostics, Inc. · NASDAQ Capital Market
Effective Supply — the real overhang

From what's tradeable today to what's realistically coming. Bigger = more selling pressure ahead.

936.4K
Reported Float
936.4K
Tradeable Now
(estimated float)
4.59M
Effective Supply
13.77M
Fully Diluted
Dilution risk6/10
CONFIDENCE: MEDIUM
ELEVATEDAssessed Jun 30, 2026Trigger: EFFECT registration filingCRITICALNear-zero-strike pre-funded warrant overhangHIGHNear-the-money registered warrant overhang

Pending supply is enormous relative to float — ~12.7M warrant shares vs ~936K float (1,360%). The dominant near-term mechanism is 3,655,917 registered pre-funded warrants at $0.0001 (effectively free-trading stock, ~3.9x float) plus 7.3M near-money Series G/H warrants at $2.075 (stock $1.44). However, there are NO active convertible notes (bridge notes fully repaid in 2024) and NO preferred outstanding, which zeroes the heaviest-weighted (40%) scoring component and caps the weighted score near 6. Weighted: 0.40x0 + 0.30x9 + 0.20x9 + 0.10x10 = 5.5.

Share Structure

Float to Fully Diluted Breakdown

LIKELY STALE

Reported float from Insight Sentry (MARKET_DATA). Adjusted based on SEC filing analysis.

Reported Float936K6.8%
Warrants12.74M92.5%
pre-funded3.66M shares at $0.0001
common3.66M shares at $2.075
common3.66M shares at $2.075
placement_agent256K shares at $2.905
common1.13M shares at $7
placement_agent45K shares at $10
common271K shares at $13.68
common72K shares at $65.2
common2K shares at $2080
placement_agent117 shares at $2600
common134 shares at $11584
placement_agent8 shares at $14736
common77 shares at $224000
common2 shares at $320000
common17 shares at $132849
Other100.0%
Options / RSUs10 shares
≈ Estimated Actual Float

Reported float + filing adjustments

936K

MEDIUM confidence

Pending Shares as % of Float1,360.4%

Registered and convertible shares that could enter the float relative to current float size.

Fully Diluted13.77M100%

Share estimates are approximate. Convertible share counts based on current price. Review SEC filings for exact terms.

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Dilution profile
Reverse splits (4)
  • 1-for-20·Jul 24, 2023~3 yr ago
  • 1-for-8·Jun 20, 2024~2 yr ago
  • 1-for-50·Nov 18, 2024~2 yr ago
  • 1-for-4·Jan 29, 2026~6 mo ago
Active mechanisms
  • ▸3,655,917 registered pre-funded warrants ($0.0001) — near-zero strike, exercisable now
  • ▸7,311,834 Series G/H warrants ($2.075) — near-the-money, registered for resale
  • ▸255,914 placement-agent warrants ($2.905)
  • ▸Board authority for additional reverse split (1-for-2 to 1-for-20) approved 2026-06-09

Market Data

Price

$1.03

Market Cap

$1.07M

Outstanding

1.03M

Float

936.4K

Avg Volume

2.81M

Exchange: NASDAQ|Source: Insight Sentry