PRFXPRF Technologies Ltd. · NASDAQ
Effective Supply — the real overhang

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

3.04M
Reported Float
3.04M
Tradeable Now
(estimated float)
3.22M
Effective Supply
3.53M
Fully Diluted
Dilution risk8/10
CONFIDENCE: HIGH
HIGHAssessed Jun 30, 2026Trigger: EFFECT registration filingCRITICALVariable-rate equity line (death-spiral mechanics) actively drawnHIGHRecently registered resale shares not in data-service float

Dominant driver is an actively-used, variable-rate equity line: the June 2026 Yorkville SEPA registers 7,479,724 Advance Shares (~246% of the ~3.04M float) priced at 97% of the lowest of three daily VWAPs (3% discount, floorless/at-market mechanics). The prior May 2026 SEPA was fully drawn ($10M / 2,152,798 shares) and sold into the tape within ~3 weeks, demonstrating willingness and speed of issuance. Warrant overhang (448,797 shares) is deep out-of-the-money ($27.40 vs $1.41) and contributes little. Four reverse splits in ~3 years confirm a serial-dilution pattern. Score held just below extreme only because draws are paced by the 9.99% ownership cap and trading volume rather than a single instantaneous conversion.

Share Structure

Float to Fully Diluted Breakdown

LIKELY STALE

Reported float from Insight Sentry (stale; matches 2026-05-12 cover-page outstanding, pre May SEPA draw). Adjusted based on SEC filing analysis.

Reported Float3.04M86.1%
Float Adjustments2.17M61.5%
+2.15M sharesHIGH

2,152,798 ordinary shares issued and sold to Yorkville under the May 2026 SEPA ($10.0M gross, ~$9.9M net) before that SEPA was terminated — now free-trading

Source: 424B3 filed 2026-06-29 (financing_transactions: May 2026 SEPA, terminated 2026-05-29)

+20K sharesHIGH

20,276 Commitment Shares issued to Yorkville under the June 2026 SEPA (registered resale)

Source: 424B3 filed 2026-06-29

Warrants931K26.3%
common449K shares at $27.4
pre-funded182K shares at $0.01
common300K shares at $0.01
Options / RSUs44K1.2%
Stock Options44K shares
≈ Estimated Actual Float

Reported float + filing adjustments

3.04M

HIGH confidence

Pending Shares as % of Float262.1%

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

Fully Diluted3.53M100%

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

See the full breakdown

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Dilution profile
Reverse splits (4)
  • 1-for-10·Jul 3, 2023~3 yr ago
  • 1-for-6·Sep 9, 2024~2 yr ago
  • 1-for-4·Nov 21, 2024~2 yr ago
  • 1-for-5·Feb 6, 2026~6 mo ago
Active mechanisms
  • ▸June 2026 Yorkville SEPA / ELOC — variable-rate (97% of lowest 3-day VWAP), $15.0M / 7,479,724 registered Advance Shares undrawn
  • ▸H.C. Wainwright ATM (Oct 2024) — capacity undisclosed, status unknown
  • ▸Out-of-the-money common warrants (448,797 shares @ $27.40 wt avg) and $0.01 pre-funded warrants

Market Data

Price

$1.14

Market Cap

$3.45M

Outstanding

3.04M

Float

3.04M

Avg Volume

130.1K

Exchange: NASDAQ|Source: Insight Sentry