S-3 shelf registration
Issued 2026
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
PPIH$29.53-0.61%
Perma-Pipe International Holdings, Inc.
Sector: Industrial & Commercial Fans & Blowers & Air Purifing EquipIndustry: Industrial - MachineryCountry: USExchange: Nasdaq
Mkt Cap:$242M
Float & O/S:
Inst Own:
DilutionScan read 26 of Perma-Pipe International Holdings, Inc.'s SEC filings and found 1 shelf registration on file for PPIH. The latest dilution event on file is a registration statement on Jun 26, 2026. Analysis updated Nov 2, 2026.
Signal8 Summary
PPIH
Growing small-cap, margins under pressure
- Business
- MixedRevenue +24% but gross margin slipped to 29.2%, $3.9M bad-debt charge
- Stock risk
- Elevated$240M small-cap, share count +1.7%, disclosure-control weaknesses flagged
Snapshot
Perma-Pipe is a small industrial piping and leak-detection maker growing fast: FY 2025 revenue hit $210.9M, up 33.2%, with $17.0M in net profit.
What's Happening Right Now
- : Perma-Pipe replaced its prior credit agreement with a new $90M JPMorgan facility (a $75M revolver plus $14M term loan), with access to up to $50M more incremental capacity.
- : Q2 FY2026 net sales rose 24.4% to $59.6M and net income hit $2.5M, but the quarter absorbed a $3.9M charge for an uncollectible receivable and gross margin slipped to 29.2% from 30.1%.
- : The 10-Q disclosed that the CEO and CFO concluded disclosure controls were not effective as of July 31, 2026 due to material weaknesses in internal controls, with remediation still in progress.
- : Perma-Pipe signed an MOU with Welspun and the Jordanian government to form a joint venture for pipe manufacturing and coating facilities tied to Jordan's National Water Carrier Project, with definitive terms still pending.
- : Perma-Pipe secured more than $67 million in new orders in Q2 fiscal 2026, growing its backlog to $142.3 million.
Raise routes on file: effective shelf · latest dilution event 130 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
Jun 26, 2026 · Registration
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
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Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.
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