From what's tradeable today to what's realistically coming. Bigger = more selling pressure ahead.
Pending share supply (~135M shares) is ~457% of the 29.6M float and ~245% of the 55.1M shares outstanding. Two convertible preferred series (Series A + A-1 = 55.5M common) convert at $0.503 and $0.31 — at or above the current $0.24–$0.31 price and issued to the CEO affiliate NLabs — plus an active variable-rate White Lion convertible note (lesser of $0.75 or 90% of 10-day VWAP, 10M shares registered) and a live $25M ELOC with an unused ~$24.2M. Near-the-money NLabs warrants (13.3M @ $0.31 ATM, 33.6M @ $0.503) add massive overhang. Only the legacy $11.50 SPAC/public warrants (~11.6M) are truly dead. This is a live, large-scale, discount-to-market dilution machine.
Share Structure
Float to Fully Diluted Breakdown
Reported float from Insight Sentry (NASDAQ:VEEA); as-of date unknown, based on stale 50,407,567 shares outstanding. Adjusted based on SEC filing analysis.
Float Discrepancy: our SEC analysis shows 29.60M vs 21.96M reported — understated 35%
Insight Sentry reports 20,082,135 float on a stale 50,407,567 share count. The S-3 (2026-06-24) discloses 55,116,953 shares out and 29,602,697 non-affiliate shares — the feed misses ~5M shares out and the June 8 note-conversion/share-issuance (3,656,684) and the March/June NLabs preferred settlements. Data services also have not ingested the 55M+ shares of preferred-conversion and 47M+ near-money ...
1,891,388 shares issued on automatic conversion of September 2024 Notes at $0.4401
Source: 8-K 2026-06-11
1,765,296 shares issued to four investors for release of late-delivery liability (Share Issuance Agreements)
Source: 8-K 2026-06-11
Reconciliation to official non-affiliate float disclosed in S-3 (29,602,697 vs. stale feed) — captures issuances the data service has not yet ingested
Source: S-3 2026-06-26
Reported float + filing adjustments
MEDIUM confidence
Registered and convertible shares that could enter the float relative to current float size.
Share estimates are approximate. Convertible share counts based on current price. Review SEC filings for exact terms.
See the full breakdown
Red flags, financing counterparties, the deal timeline, and every SEC filing — free with an account.
Sign in to continue- ▸Series A Preferred (42.1M common, $0.503 conversion, senior)
- ▸Series A-1 Preferred (13.3M common, $0.31 conversion)
- ▸White Lion variable-rate convertible notes (floating 90% VWAP, 10M registered)
- ▸White Lion $25M ELOC (~$24.2M unused, 4.99%/19.99% caps)
- ▸NLabs near-money warrants (46.9M shares @ $0.31/$0.503)
- ▸$75M S-3 shelf (baby-shelf capped)
Market Data
$0.16
$8.74M
55.12M
21.96M
1.25M