Skip to content
DilutionScan
Adagio Medical Holdings, Inc. logo
ADGM$0.0888+2.07%

Adagio Medical Holdings, Inc.

Sector: Surgical & Medical Instruments & ApparatusIndustry: Medical - DevicesCountry: USExchange: Nasdaq

Mkt Cap$2.44M
Float & O/S
Inst Own

DilutionScan read 37 of Adagio Medical Holdings, Inc.'s SEC filings and found 6 warrant series, 1 convertible, 1 shelf registration, 2 S-1 registrations and 1 completed offering on file for ADGM. The latest dilution event on file is a conversion repricing on Sep 23, 2026. Analysis updated Oct 31, 2026.

Signal8 Summary

ADGM

Cash-strapped micro-cap facing delisting

Snapshot

Adagio Medical is a pre-revenue medical device company developing heart-ablation catheters, with FY 2025 revenue effectively at zero and a net loss of $25.1M.

What's Happening Right Now

  • : Q2 2026 net loss was $6.7M with no revenue due to a pause in European sales, and cash fell from $17.1M to $7.7M, tightening the company's financial runway.
  • : Adagio treated its first patient with a next-generation faster ablation catheter under FDA expanded access and got approval to expand its ongoing heart-rhythm trial to test it.
  • : At its June 16, 2026 annual meeting, shareholders elected two directors and ratified the company's accounting firm for fiscal 2026.
  • : Nasdaq warned Adagio that its stock has traded below the $1.00 minimum price for 30 days straight, starting a 180-day clock to fix it or risk delisting.

Raise routes on file: effective shelf + effective S-1 · latest dilution event 41 days ago

Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need

AI dilution summary

The dominant contractual driver and its mechanism, then each further driver ranked.

Latest dilution event

Sep 23, 2026 · Conversion Price Reset

How we read filings

Every warrant, convertible, ATM and shelf, cited to the filing

A free account reads 3 tickers a day in full

Get Pro · every ticker

$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)

Share count and cash history

Shares outstanding, potential dilution and cash over time

S-1 · 2

What is this?

Size, shares registered and dates with Pro

S-1 · resale registration

Issued 2025

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · resale registration

Issued 2025

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

Warrants · 6

What is this?

Exercise price, shares and dates with Pro

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

2025 PIPE Pre-Funded Warrants

Issued 2025

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2025

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2025

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2025

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Convertibles · 1

What is this?

Principal, conversion terms and dates with Pro

Convertible

Outstanding

Principal

Conversion Price

Remaining principal
Shares on conversion
Interest rate
Maturity
Filing link and full terms

Shelf · 1

What is this?

Capacity, dates and baby-shelf status with Pro

S-3 shelf registration

Issued 2025

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

Offerings · 1

What is this?

Proceeds, price, shares and agent with Pro

PIPE

Issued 2025

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

Know who's about to sell into your ADGM trade

Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.

Get Pro · every ticker

$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)

DilutionScan ProEvery instrument in full · $59/mo