Possible new Trilogy Metals shares
TMQDilution
Known so far: no new shares from the prospectus covers read · shelf not limited by the baby-shelf rule · not yet read: warrants, converts, options, ATM.
Shelf room
- Room today not capped by the baby-shelf rule ($121M float, May 31, 2025)
How this is worked out
Shelf room on the S-3ASR of Oct 31, 2025: not limited by the baby-shelf rule, because the $121M public float stated as of May 31, 2025 is $75M or more. Sources: S-3ASR Oct 31, 2025, effective Oct 31, 2025 · public float, as of May 31, 2025.
What could become new Trilogy Metals (TMQ) shares, from its 10-Q, 10-K, S-3 or 424B filings.
Read so far: the cover share count (181.4M shares, +10% from 164M on Oct 2, 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
181M
Feb 2025 to Oct 2026: from 164M to 181M.
From the share count on the cover of each 10-Q and 10-K, dated as each cover states.
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New shelves, offerings, 10-Qs and 10-Ks from TMQ, explained in plain English when they reach EDGAR.
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