STEM STEM, INC.

NEUTRAL Impact: 4/10 S-3
Horizon weeks Filed Jun 2, 2026 Processed 2d 22h ago SEC 0001758766-26-000054
Shelf registration — potential dilution

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Executive Summary

Stem filed an S-3 registration statement to register 289,045 shares of common stock for resale by raicoon GmbH, the former owner of assets acquired by Stem. Stem will not receive any proceeds from this resale. The filing is a routine contractual obligation to register shares issued as acquisition consideration and does not represent a new capital raise by the company.

Actionable Insight

This is a routine resale registration for acquisition-related shares. No new capital is being raised, and the selling shareholder may sell over time. Monitor for any subsequent prospectus supplement that could indicate accelerated selling, but the filing itself is not a material event.

Key Facts

  • Registers 289,045 shares of common stock for resale by selling shareholder raicoon GmbH.
  • Shares were issued in connection with Stem's acquisition of raicoon GmbH's assets.
  • Stem will not receive any proceeds from the sale of these shares.
  • As of March 31, 2026, raicoon GmbH beneficially owned 389,569 shares (4.5% of outstanding).
  • The maximum aggregate offering price for the registered shares is $3,391,042.32, based on a reference price of $8.7046 per share.
  • Stem's market cap is approximately $91M, making the registered shares represent about 3.7% of market cap at the reference price.

Financial Impact

The registered shares represent approximately 3.4% of outstanding shares (289,045 / 8,567,751). At the reference price of $8.7046, the total potential sale value is ~$2.5M, or ~2.7% of the $91M market cap.

dilution

Risk Factors

  • Potential overhang from the selling shareholder's ability to sell shares in the open market, which could create modest downward pressure on the stock price.
  • The company's small market cap ($91M) and low liquidity could amplify any selling impact.

Market Snapshot

Exchange
NYSE
Sector
Services-Computer Integrated Systems Design
Analyst Consensus
0% bullish (12 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
S-3 Filing (Primary)0001758766-26-000054
Exhibit: exfilingfees.htm0001758766-26-000054
Exhibit: exhibit23-deloitteconsent.htm0001758766-26-000054
Document: 0001758766-26-000054-index-headers.html0001758766-26-000054
Document: 0001758766-26-000054-index.html0001758766-26-000054
Document: 0001758766-26-000054.txt0001758766-26-000054
5 reports for STEM
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for STEM — sortable, filterable
Type Now
Jun 3, 2026
1d ago
8-K
NEUTRAL ★ 3/10
awaiting T+20
Jun 2, 2026
2d ago
S-3
NEUTRAL ★ 4/10
awaiting T+20
May 6, 2026
29d ago
8-K
MIXED ★ 5/10
$8.73 $9.04▲ +3.55%▲ +0.42%$7.79 (−10.77%)
Apr 27, 2026
5w ago
DEFA14A
NEUTRAL ★ 2/10
$11.29 $10.28▼ −8.95%▼ −13.90%$7.79 (−31.00%)
Mar 4, 2026
13w ago
8-K
BULLISH ★ 8/10
$12.18 $8.66▼ −28.90%▼ −25.11%$7.79 (−36.04%)
Showing 5 of 5

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