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DEEP FISSION, INC. logo
FISN$2.04-1.45%

Deep Fission, Inc.

Sector: Electric ServicesIndustry: Industrial - MachineryCountry: USExchange: Nasdaq

Mkt Cap & EV$120.18M /
Float & O/S37.42M / 58.91M
Est. Net Cash/Sh
Inst Own4.9%

DilutionScan read 19 of DEEP FISSION, INC.'s SEC filings and found 3 warrant series, 1 convertible, 1 shelf registration, 3 S-1 registrations and 3 completed offerings on file for FISN. The latest dilution event on file is a registration statement on Nov 4, 2026. Analysis updated Nov 10, 2026.

Signal8 Summary

FISN

Pre-revenue nuclear startup burning cash

Snapshot

Deep Fission is a pre-revenue nuclear developer with $0 in FY 2025 revenue and a $61.0M net loss. It holds $93.0M in cash against essentially no debt, and Signal8 models roughly 14.4 months of runway.

What's Happening Right Now

  • : On Sep 10, 2026, Deep Fission installed and retrieved a full-scale prototype reactor canister from a test borehole using standard commercial drilling equipment, without needing custom-built gear.
  • : On Aug 19, 2026, CEO Liz Muller said Deep Fission aims to begin commercial electricity generation from its first underground reactor in Kansas by the end of 2027, contingent on construction and regulatory approval.
  • : On Aug 6, 2026, the Department of Energy approved Deep Fission's Nuclear Safety Design Agreement for its Gravity reactor, a milestone toward demonstration and commercial deployment at its Kansas pilot site.
  • : On Jun 24, 2026, Deep Fission announced non-binding Letters of Intent representing up to 18.5 gigawatts of potential generation capacity with data centers and industrial partners, though these carry no purchase or financing commitment.
  • : On Jun 22, 2026, Deep Fission closed a public offering of 2.5 million shares at $16.00 each, raising $40 million before expenses for engineering and construction of its Kansas pilot reactor.

Raise routes on file: shelf awaiting effectiveness · latest dilution event 8 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

Nov 4, 2026 · Registration

How we read filings

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

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Share count and cash history

Shares outstanding, potential dilution and cash over time

S-1 · 3

What is this?

Size, shares registered and dates with Pro

S-1 · primary offering

Issued 2026

Completed

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · resale registration

Issued 2026

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 · 3

What is this?

Exercise price, shares and dates with Pro

Warrant

Issued 2025

Outstanding

Shares Underlying

Exercise Price

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

Warrant

Issued 2026

Outstanding

Shares Underlying

Exercise Price

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

Warrant

Exercised

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

Converted

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 2026

Not effective

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

Offerings · 3

What is this?

Proceeds, price, shares and agent with Pro

PIPE

Issued 2026

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

Public offering

Issued 2026

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

Offering

Issued 2026

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

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

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