DMRC Digimarc Corp
Price Chart
Executive Summary
Digimarc Corp filed a 424B5 prospectus supplement to sell up to $17.5 million of common stock in an at-the-market offering through Needham & Company. The filing represents potential dilution of ~5.75% of outstanding shares at the current price of $13.63, with proceeds earmarked for working capital and general corporate purposes. The ATM facility signals ongoing cash needs for a smaller reporting company with a net tangible book value of just $0.45 per share as of March 31, 2026.
Actionable Insight
Monitor the pace of share sales under the ATM — actual dilution may be less than the full $17.5M if management sells opportunistically. The low net tangible book value ($0.45/share) and broad discretion over use of proceeds suggest ongoing cash burn; watch next quarterly filing for cash runway update.
Key Facts
- Aggregate offering size up to $17,500,000 in common stock
- At-the-market offering through Needham & Company with 3.0% commission
- Assumes 1,283,932 shares sold at $13.63/share, representing ~5.75% of outstanding shares
- Net tangible book value as of March 31, 2026 was $9.9 million, or $0.45 per share
- After full offering, as-adjusted net tangible book value would be ~$26.4 million, or $1.13 per share
- New investors would face immediate dilution of $12.50 per share
- Proceeds to be used for working capital and general corporate purposes
- 22,327,310 shares outstanding as of June 5, 2026
Financial Impact
Up to $17.5 million in new equity issued, representing ~5.75% dilution at current price of $13.63 per share
Risk Factors
- Immediate and substantial dilution of $12.50 per share for new investors
- Ongoing dilution risk as shares can be sold at any time under the ATM
- No specific allocation of proceeds — management has broad discretion
- Company is a smaller reporting company with limited public disclosure requirements
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-260762 |
| Document: 0001193125-26-260762-index-headers.html | 0001193125-26-260762 |
| Document: 0001193125-26-260762-index.html | 0001193125-26-260762 |
| Document: 0001193125-26-260762.txt | 0001193125-26-260762 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 8, 2026
4d ago
|
8-K
| $13.46 awaiting T+5 | awaiting T+5 | — | $11.31 (+15.94%) |
|
Jun 8, 2026
5d ago
|
424B5
| $13.62 awaiting T+5 | awaiting T+5 | — | $11.31 (+16.96%) |
|
May 22, 2026
22d ago
|
EFFECT
| $13.68 $16.43 | ▲ +20.10% | ▲ +18.44% | $11.31 (−17.32%) |
|
May 18, 2026
25d ago
|
8-K
| $9.26 $12.87 | ▲ +38.98% | ▲ +37.37% | $11.31 (+22.14%) |
|
Apr 20, 2026
7w ago
|
DEFA14A
| $7.71 $7.07 | ▼ −8.30% | ▼ −9.38% | $11.31 (+46.69%) |
|
Mar 11, 2026
13w ago
|
8-K
| $6.64 $5.57 | ▼ −16.11% | ▼ −15.14% | $11.31 (+70.33%) |
US Market Status
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