C3is Inc. Prices $6M Unit Offering at $0.52 with Aggressive Warrant Reset Terms
CISS sits 27% above its 52-week low of $0.411 on elevated volume (6.6× avg).
Summary
C3is Inc. priced a $6 million unit offering with warrants that reset to lower prices and allow zero-cash exercise, creating massive potential dilution for a company already fighting Nasdaq delisting.
Key Events · Financing and Capital Events · CISS
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$6M Unit Offering Priced at Market
11,535,000 units at $0.52 each, each unit consisting of one common share (or pre-funded warrant) and one Class F warrant.
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Warrant Reset to Deep Discount
Warrant exercise price resets to 70% of initial $0.52 on the second trading day after closing, then to 50% on the fifth trading day, with proportional share count increase.
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Zero-Cash Exercise Doubles Dilution
Warrants can be exercised on a cashless basis, exchanging each warrant for twice the number of common shares issuable on a cash exercise.
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Underwriter Option Adds Overhang
45-day option for up to 908,765 additional common shares and/or warrants, potentially increasing dilution further.
Analysis · CISS · Energy & Transportation
C3is Inc. priced a $6 million unit offering at $0.52 per unit — exactly the current stock price — but the attached warrants contain aggressive reset provisions that drop the exercise price to 70% and then 50% of the initial $0.52 within days, while also allowing zero-cash exercise for double the shares. This structure, combined with the company's micro-cap size and recent reverse split history, signals extreme dilution risk. The offering follows a shareholder-approved 1-for-1,000 reverse split authority and an existing $98M ATM program, painting a picture of a company in survival mode, using deeply dilutive financing to stay afloat.
How filings like this one have moved
In the 30 days to Nov 5, 2026, 50.5% of the 202 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -1.04%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CISS was trading at $0.52 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $281.4K. The 52-week trading range was $0.41 to $831.59. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.