Possible new Ventas shares

VTRDilution

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

Shelf room

  • Room today not capped by the baby-shelf rule ($28.6B float, Jun 30, 2025)
How this is worked out

Shelf room on the S-3ASR of Jun 13, 2025: not limited by the baby-shelf rule, because the $28.6B public float stated as of Jun 30, 2025 is $75M or more. Sources: S-3ASR Jun 13, 2025, effective Jun 13, 2025 · public float, as of Jun 30, 2025.

What could become new Ventas (VTR) shares: warrants, each with the 10-Q, 10-K, S-3 or 424B filing it comes from.

Ventas dilution ladder

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

528.8M outstanding

  1. Outstandingas of Oct 27, 2026 (10-Q filed Oct 28) · share count on the cover page
    528.8M
  2. Warrantsat $3.0010-Q Oct 30, 2025 · equity noteleft out of the share total: no share count stated
    not added

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

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 Oct 30, 2025.

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

529M

Feb 2025 to Oct 2026: from 437M to 529M.

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