ULBI$15.620.00%

Ultralife Corp.

Sector: Miscellaneous Electrical Machinery, Equipment & SuppliesIndustry: Electrical Equipment & PartsCountry: USExchange: Nasdaq

Mkt Cap:$260.3M

Float & O/S:

Inst Own:

DilutionScan read 16 of ULTRALIFE CORP's SEC filings and found 2 shelf registrations on file for ULBI. The latest dilution event on file is a registration statement on May 7, 2024. Analysis updated Oct 28, 2026.

Signal8 Summary

ULBI

Pending acquisition by EnerSys at $16/share

Business: MixedRevenue +16% but FY25 net loss $5.9M, debt $47.5M vs cash $6.7M
Stock risk: Elevated$106M micro-cap, deal pending tender and regulatory approval

Snapshot

Ultralife is a small defense-and-power-systems maker whose FY 2025 revenue grew 16.2% to $191.2M, yet the company posted a net loss of $5.9M despite positive operating income of $9.2M, a gap driven mainly by $4.0M of interest expense on $47.5M of debt against just $6.7M in cash.

What's Happening Right Now

: On Oct 27, 2026, Ultralife agreed to be acquired by EnerSys for $16.00 per share in cash, a 166% premium to the prior closing price, valuing the deal at roughly $320 million including assumed debt; the all-cash tender offer is funded from EnerSys cash on hand and is expected to close in Q1 2027 pending shareholder tender and regulatory approvals.
: On Sep 25, 2026, Ultralife was upgraded to Neutral, with the analyst citing record backlog, product commercialization and manufacturing improvements.
: On Aug 7, 2026, Ultralife reported Q2 2026 revenue of $47.9 million (down 1.3% YoY) but gross margin expanded 500 basis points to 28.9% and GAAP EPS tripled to $0.15, with backlog rising to a record $117.5 million.
: Registered $100.00M of securities for sale on Form S-3.

Raise routes on file: effective shelf · latest dilution event 910 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

May 7, 2024 · Registration

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Share count and cash history

Shares outstanding, potential dilution and cash over time

Shelf · 2

What is this?

Capacity, dates and baby-shelf status with Pro

S-3 shelf registration

Issued 2024

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf