Possible new CMTG shares

CMTGDilution

Known so far: no new shares from the prospectus covers read · shelf not limited by the baby-shelf rule · not yet read: converts, ATM.

Shelf room

  • Room today not capped by the baby-shelf rule ($289M float, Jun 30, 2025)
How this is worked out

Shelf room on the S-3 of Mar 31, 2026: not limited by the baby-shelf rule, because the $289M public float stated as of Jun 30, 2025 is $75M or more. Sources: S-3 Mar 31, 2026, effective Apr 9, 2026 · public float, as of Jun 30, 2025.

What could become new Claros Mortgage Trust (CMTG) shares: warrants and options and RSUs, each with the 10-Q, 10-K, S-3 or 424B filing it comes from.

CMTG dilution ladder

Every source of new shares on record, from the filings that created it.

141.1M outstanding; up to 151.5M fully diluted, +7%

  1. Outstandingas of Nov 2, 2026 (10-Q filed Nov 3) · share count on the cover page
    141.1M
  2. Warrants7.5M10-Q Nov 3, 2026 · securities left out of diluted EPS
    +7.5M
  3. Options and RSUs2.9M RSUs10-Q Nov 3, 2026 · equity note
    +2.9M

Not stated in the filings we read: an ATM program, convertible notes.

Counts, sizes and prices as stated in each filing; the fully diluted count is arithmetic on them. Dollars become shares only at a price a filing states. Not advice.

Financing terms to know

None found in filings since Nov 3, 2026.

Each term is quoted from the exhibit it comes from; numbers are as stated in the filing. A flag describes a financing term. It is not investment advice.

Shares outstanding

141M

Feb 2025 to Nov 2026: from 139M to 141M.

From the share count on the cover of each 10-Q and 10-K, dated as each cover states.