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ATER

Aterian, Inc.
ATER stock: dilution, delisting risk, reverse split — what the SEC filings say, updated every weekday morning.
Nasdaq · Electric Housewares & Fans · EDGAR filings (CIK 1757715) · 8 signals · 1 setups · updated Sep 18, 2026

What the filings say Mixed ◆

Listing is at risk and the usual cures are constrained. Next thing to watch: a reverse-split proxy, a hearings-panel 8-K, or a Form 25. Support side: New 13D filer — insiders or holders bought while this setup is live; see the timeline.

Radar 90 (high attention) · dilution pressure low · listing risk high · governance risk low · runway cash-flow positive · strongest signal: Hearings panel (Sep 8, 2026)

What would confirm: Nasdaq 'Pending Suspension' listing, Form 25, hearings-panel denial 8-K, or a reverse-split proxy.
What would prove it wrong: 8-K announcing regained compliance; equity raise that restores stockholders' equity; MVLS back above threshold for 10+ days.

Direction is stated for existing shareholders (▼ more shares / survival or listing risk; ▲ insiders or holders buying). It is a characterization of the filings, not a forecast or a recommendation.

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90Radar · attention score (0–100)
37Dilution pressure · financing + balance sheet
89Listing risk · exchange standards
22Governance risk · reporting, auditor, going concern

Setups

Independent filings stitched into a thesis, each with what would confirm and what would prove it wrong.

Listing cliff Pressure ▼ strength 0.90

Listing is at risk and the usual cures are constrained. Next thing to watch: a reverse-split proxy, a hearings-panel 8-K, or a Form 25. Exchange deficiency plus a structural reason cure is hard (sub-$5M float, negative equity, no cash, or a reverse split already used). Under Nasdaq's 2026 rules (one reverse split per 12 months; $5M MVLS floor with no cure period from Sept 2026) the usual escape hatches are narrower.

Would confirm: Nasdaq 'Pending Suspension' listing, Form 25, hearings-panel denial 8-K, or a reverse-split proxy.
Would invalidate: 8-K announcing regained compliance; equity raise that restores stockholders' equity; MVLS back above threshold for 10+ days.
Delisting languageHearings panelExchange deficiency noticeMinimum bid deficiencyReverse split

Analyst note

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Balance sheet (XBRL)

$2.5Mcash + short-term investments as of Jun 30, 2026
cash-flow positiveestimated runway (annualized 180-day YTD operating cash flow [companyfacts])
$12.6Mstockholders' equity as of Jun 30, 2026
$13.4Mpublic float (10-K cover)
18.0Mshares outstanding as of Aug 12, 2026 · was 10.8M May 12, 2026

Runway = liquidity ÷ monthly operating burn at the latest reported period · balance sheet 80 days old. A financing after the balance-sheet date is the main reason a figure can be stale — check the timeline below for offerings since then.

Signal timeline

Last 30 days of filing signals plus current balance-sheet flags, newest first. ▼ pressure · ▲ support · hover a score for its components; every row links to the filing.

DateSignalEvidenceScore
Sep 10, 2026 New 13D filer Schedule 13D filed 2026-09-10 filing 45
Sep 8, 2026 Hearings panel “hearings panel” language in 8-K (8-K) filed 2026-09-08 filing 58
Sep 8, 2026 Exchange deficiency notice 8-K Item 3.01 filed 2026-09-08 (accepted 16:25 ET) filing 55
Sep 8, 2026 Minimum bid deficiency “min bid” language in 8-K (8-K) filed 2026-09-08 filing 48
Sep 8, 2026 Delisting language “delisting notice” language in 8-K (8-K) filed 2026-09-08 filing 46
Sep 8, 2026 Reverse split “reverse split” language in 8-K (8-K) filed 2026-09-08 filing 34
Sep 8, 2026· Officer/director change 8-K Item 5.02 filed 2026-09-08 (accepted 16:25 ET) filing 22
Jun 30, 2026 Share count +25% Shares outstanding 10,818,910 (2026-05-12) -> 17,966,910 (2026-08-12), +66% filing 37

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