Cartesian Therapeutics, Inc. (RNAC) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: April 30, 2026

Risk Assessment Details

Potential Dilution: 159.43% of current shares
Recent Dilution: 37.4% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
27M
Potential Supply
43M
Additional shares possible
Splits
None
Past 2 years

Summary

RNAC currently has 26.9M outstanding shares. with significant dilution risk as 42.8M authorized shares could dilute existing holders by 159.4%. The company has significantly diluted shareholders by 37.4% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 30, 2026

10-Q filing | 26.9M shares outstanding

27M 43M
Mar 09, 2026

10-K filing | 26.0M shares outstanding

26M 43M
Nov 06, 2025

10-Q filing | 26.0M shares outstanding

26M 43M
Aug 07, 2025

10-Q filing | 26.0M shares outstanding

26M 43M
May 08, 2025

10-Q filing | 25.9M shares outstanding

26M 43M
Mar 13, 2025

10-K filing | 25.9M shares outstanding

26M 43M
Jan 10, 2025

POS AM filing: This is a POS AM filing to terminate the effectiveness of the Original Registration Statement and to deregister all the Registered Shares that remain unsold under the Original Registration Statement as of the date thereof.

24M 43M
Jan 10, 2025

POS AM filing: This is a post-effective amendment to terminate the effectiveness of the original registration statement and to deregister all the registered securities that remain unsold.

24M 43M
Dec 13, 2024

S-3 filing: This S-3 filing registers 11,392,350 shares of common stock for resale by selling stockholders, consisting of Merger Common Shares, Merger Conversion Shares, and Private Placement Conversion Shares, with the company not receiving any proceeds from the sale.

24M 49M
Dec 13, 2024

S-3 filing: Cartesian Therapeutics, Inc. files an S-3 form to offer and sell up to $400,000,000 in the aggregate of common stock, preferred stock, and debt securities.

25M 49M
Dec 13, 2024

S-3 filing: This prospectus relates to the proposed resale or other disposition by the selling stockholders identified herein of up to (i) 5,813,223 shares of our common stock, and (ii) 437,927 shares of Common Stock, issuable upon the conversion of 437,927 shares of Series B Non-Voting Convertible Preferred Stock.

24M 49M
Nov 07, 2024

10-Q filing | 25.4M shares outstanding

25M 12M
Sep 20, 2024

S-1/A filing: This S-1/A filing registers for resale up to 6,501,150 shares of common stock, including shares issuable upon conversion of Series B Preferred Stock. The selling stockholders will receive the proceeds from the sale of these shares.

21M 12M
Sep 09, 2024

S-1/A filing: This S-1/A filing relates to the resale of common stock and common stock issuable upon conversion of Series B Preferred Stock by selling stockholders.

21M 12M
Aug 08, 2024

10-Q filing | 21.4M shares outstanding

21M 12M
Aug 02, 2024

S-1 filing: This S-1 filing registers shares of common stock and shares of common stock issuable upon conversion of Series B Preferred Stock for resale by selling stockholders.

21M 12M
May 08, 2024

10-Q filing | 17.8M shares outstanding

18M 5.3M
Apr 04, 2024
Stock Split

8-K filing: Stock split 1-for-30 | Outstanding: 155,109,561 → 5,515,835

5.5M 5.3M
Mar 07, 2024

10-K filing | 155.1M shares outstanding

160M 160M
Nov 13, 2023

10-Q filing | 154.8M shares outstanding

150M 160M
Oct 25, 2023

S-3 filing: Selecta Biosciences, Inc. files an S-3 registration statement for the potential offering of common stock, preferred stock, and debt securities, warrants and units up to an aggregate amount of $200,000,000.

150M 160M
Aug 17, 2023

10-Q filing | 153.4M shares outstanding

150M 160M
May 04, 2023

10-Q filing | 153.3M shares outstanding

150M 160M
Mar 02, 2023

10-K filing | 145.9M shares outstanding

150M 160M
Nov 03, 2022

10-Q filing | 152.8M shares outstanding

150M 160M
Aug 08, 2022

10-Q filing | 148.5M shares outstanding

150M 160M
May 05, 2022

10-Q filing | 151.8M shares outstanding

150M 160M
Mar 10, 2022

10-K filing | 114.3M shares outstanding

110M 160M
Nov 09, 2021

10-Q filing | 115.2M shares outstanding

120M 160M
Aug 12, 2021

10-Q filing | 113.5M shares outstanding

110M 160M
May 13, 2021

10-Q filing | 113.2M shares outstanding

110M 160M
Mar 12, 2021

10-K filing | 112.4M shares outstanding

110M 160M
Nov 05, 2020

10-Q filing | 108.0M shares outstanding

110M 160M
Sep 03, 2020

8-K filing: Selecta Biosciences, Inc. entered into a term loan facility of up to $35.0 million with Oxford Finance LLC and Silicon Valley Bank, and issued warrants to the lenders to purchase an aggregate of 203,850 shares of common stock at an exercise price of $2.54 per share.

86M 160M
Aug 06, 2020

S-3 filing: Selecta Biosciences, Inc. is offering common stock and other securities up to an aggregate amount of $200,000,000 from time to time.

86M 160M
Aug 06, 2020

10-Q filing | 86.3M shares outstanding

86M 160M
Jun 12, 2020

8-K filing: Selecta Biosciences, Inc. sold 5,416,390 shares of common stock to Swedish Orphan Biovitrum AB at a purchase price of $4.6156 per share, resulting in aggregate gross proceeds of $25 million. ($25.0M proceeds)

86M 69M
May 07, 2020

10-Q filing | 86.3M shares outstanding

86M 69M
Mar 12, 2020

10-K filing | 22.5M shares outstanding

22M 69M
Jan 29, 2020

S-3 filing: This S-3 filing relates to the proposed resale of up to 68,965,512 shares of common stock by selling stockholders.

86M 69M
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