Possible new BRN shares
BRNDilution
Known so far: no new shares from the prospectus covers read · shelf room about $1.8M · not yet read: warrants, converts, options, ATM.
Shelf room
- Room today about $1.8M, maybe lower
- One third of float $1.8M ($5.3M float, Mar 31, 2025)
- Sold off it, 12 months nothing
How this is worked out
Shelf room about $1.8M on the S-3 of Jan 12, 2026: the baby-shelf rule (public float under $75M) caps sales at one third of the $5.3M public float stated as of Mar 31, 2025, $1.8M, nothing sold off it in the last 12 months; 2 more sales off the shelf with no size read, so the room may be lower. Sources: S-3 Jan 12, 2026, effective Jan 30, 2026 · public float, as of Mar 31, 2025 · 424B5 Feb 25, 2026 · 424B5 Apr 9, 2026.
What could become new Barnwell Industries (BRN) shares, from its 10-Q, 10-K, S-3 or 424B filings.
Read so far: the cover share count (14.4M shares, +43% from 10.1M on Aug 11, 2025). Not read yet: warrants, convertible notes, options and RSUs and an ATM program. Read them on EDGAR: the latest 10-Q · S-3 shelf filings.
Shares outstanding
14.4M
Dec 2024 to Aug 2026: from 10.1M to 14.4M.
From the share count on the cover of each 10-Q and 10-K, dated as each cover states.
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