SOARVolato Group, Inc. · NYSE American · $0.18 · $9.63M mkt cap
Assessed Sep 11, 2026 · 8-K financing event
Is the float you're seeing correct?
49.82M
Estimated float

Latest 10-Q cover-page shares outstanding (53,633,248 at 2026-08-03) less officer/director holdings updated for the July 2026 Form 4, less unregistered M2i share-exchange shares still inside the Rule 144 holding period.

Understated 30%
38.41M
Reported float

Data-service feed, fetched today. The number TradingView and most screeners show.

Your screener is showing a float that no longer exists. Trade off 49.82M shares.

Dilution risk9/10EXTREME
CONFIDENCE: MEDIUM

The float your screener shows is understated 30%: 38.41M reported, 49.82M actual. 4 convertible notes can add another 3,467% of the float.

  • Preferred stock conversion overhang. The 2026-09-11 Aligned Engine closing created the single largest float overhang in this structure: 79,078 Series A and 316,312 Series A-1 Convertible Preferred shares, each with a $641.5267 stated va…

  • Variable-rate convertible note (death spiral) — newly issued for no cash. On 2026-09-11 the Company issued a $7.5M Fifth Tranche 10% OID senior unsecured convertible promissory note to JAK Opportunities IX, LLC — not for cash proceeds, but purely as consideration for JAK's…

  • Rapid share count growth. Shares outstanding grew from 5,610,997 (2025-08-11) to 53,633,248 (2026-08-03) — a 856% increase in twelve months, and this is POST a 1-for-25 reverse split.

From today's float to the ceiling

shares
49.82M
Estimated float
tradeable today
+0 can sell now
49.82M
Effective supply
float plus what sells on notice
+1.73B if floors are cut and warrants exercise
1.78B
Fully diluted
ceiling

Where the shares come from

each subtotal is a rung on the ladder above

Tradeable today
49.82M
Can sell now
Warrants in the money
Exercisable at or below the current tape.
+25.56M
Effective supply
49.82M
Converts only if floors are cut
Convertible notes
At the stated conversion prices; a cut to those prices raises the count.
+50.00M
Notes with no conversion price set
Sized in dollars until a price or floor is set; not counted in the ceiling. Includes unfunded commitments, which are capacity rather than outstanding debt.
$22.48M
Preferred stock, as converted
Common equivalent at the stated conversion ratio.
+1.65B
Above the current price
Warrants out of the money
Struck above the current tape; supply only if the stock rises.
+1.16M
Options and RSUs
Employee equity; vests and settles over time.
+16.5K
Other, per engine ceiling
Included in the engine's fully-diluted count but not itemised in the filings we parsed.
+29.39M
Fully diluted
1.78B

Not counted anywhere: ATM and shelf capacity. Convertible share counts use stated conversion prices.

Effective supply taken from the engine; it differs from the itemised rows by more than 15%.

See the full breakdown

Red flags, financing counterparties, the deal timeline, and every SEC filing — free with an account.

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The facts

Price
$0.18
Market cap
$9.63M
Shares outstanding
53.63M
Reported float
38.41M
Avg volume
21.55M
Reverse splits
1 · latest 1-for-25 · Feb 24, 2025
Going concern
Yes · 3.6 quarters runway
Quarterly burn
$2.35M

Market data as of Sep 28, 2026

Key dates

  • Oct 16, 2026 · Rule 144 six-month seasoning completes on 2,148,613 unregistered M2i share-exchange shares (~4.3% float increase)
  • Dec 17, 2026 · NYSE American compliance deadline for Sections 1003(a)(i)/(a)(ii) stockholders' equity standards — equity issuance is the Company's stated remedy, and delistin…
  • Jan 1, 2027 · 2025 Stock Incentive Plan evergreen automatic increase of 5% of shares outstanding as of 2026-12-31
  • Sep 11, 2027 · $7.5M JAK Opportunities IX Fifth Tranche convertible note matures — prior tranches converted well before maturity