ADVENT TECHNOLOGIES HOLDINGS, INC. (ADN) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: November 17, 2025

Risk Assessment Details

Potential Dilution: 1743.66% of current shares
Recent Dilution: 46.37% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
3.8M
Potential Supply
66M
Additional shares possible
Splits
None
Past 2 years

Summary

ADN currently has 3.79M outstanding shares. with significant dilution risk as 66.1M authorized shares could dilute existing holders by 1743.7%. The company has significantly diluted shareholders by 46.37% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Nov 17, 2025

10-Q filing | 3.8M shares outstanding

3.8M 66M
Sep 04, 2025

8-K filing: Advent Technologies Holdings, Inc. entered into a Securities Purchase Agreement with Hudson Global Ventures LLC, issuing a Convertible Promissory Note for $418,000 and a pre-funded warrant to purchase 130,000 shares of common stock.

2.6M 67M
Aug 07, 2025

8-K filing: Advent Technologies Holdings, Inc. entered into a Securities Purchase Agreement with Hudson Global Ventures LLC, resulting in a loan of $235,000 and the issuance of a pre-funded warrant to purchase 130,000 shares of common stock.

2.6M 67M
Jun 30, 2025

10-Q filing | 2.6M shares outstanding

2.6M 67M
Jun 06, 2025

10-K filing | 2.6M shares outstanding

2.6M 67M
Dec 27, 2024

10-Q filing | 2.6M shares outstanding

2.6M 67M
Oct 15, 2024

10-Q filing | 2.6M shares outstanding

2.6M 67M
Oct 15, 2024

10-Q filing | 2.6M shares outstanding

2.6M 67M
Aug 13, 2024

10-K filing | 2.6M shares outstanding

2.6M 67M
Dec 27, 2023

8-K filing: Advent Technologies Holdings, Inc. entered into a Securities Purchase Agreement to issue and sell 10,000,000 shares of common stock at $0.20 per share in a registered direct offering, resulting in gross proceeds of $2,000,000. ($2.0M proceeds)

60M 9.5M
Nov 14, 2023

10-Q filing | 60.4M shares outstanding

60M 9.5M
Aug 14, 2023

10-Q filing | 60.0M shares outstanding

60M 9.9M
May 15, 2023

10-Q filing | 52.0M shares outstanding

52M 18M
Apr 21, 2023

S-3 filing: The filing is an S-3 form for a shelf offering of common stock, preferred stock, and debt securities with an aggregate offering price not exceeding $200,000,000. Also registers the resale of 50,635,593 shares of common stock by a selling stockholder.

52M 18M
Apr 11, 2023

8-K filing: Advent Technologies Holdings, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, allowing the Company to sell up to $50,000,000 worth of shares of its common stock over a 36-month period, and issued 635,593 Commitment Shares to Lincoln Park as consideration for its commitment.

52M 0
Mar 31, 2023

10-K filing | 51.5M shares outstanding

52M 0
Dec 21, 2022

POS AM filing: This is a post-effective amendment to combine prospectuses from two prior registration statements, convert them to a Form S-3, and update the prospectus for the offering and sale of common stock, placement warrants, and working capital warrants.

52M 0
Nov 14, 2022

10-Q filing | 51.7M shares outstanding

52M 0
Aug 09, 2022

10-Q filing | 51.5M shares outstanding

51M 0
May 12, 2022

10-Q filing | 51.3M shares outstanding

51M 0
Apr 21, 2022

S-1 filing: This S-1 filing registers the resale of up to 10,152,865 shares of common stock by selling securityholders.

51M 0
Apr 15, 2022

POS AM filing: This POS AM filing registers the issuance of common stock upon exercise of warrants and the resale of common stock and warrants by selling securityholders.

51M 0
Mar 31, 2022

10-K filing | 51.3M shares outstanding

51M 12M
Nov 15, 2021

10-Q filing | 48.3M shares outstanding

48M 15M
Sep 01, 2021

8-K filing: Issuance of 5,124,846 shares of Common Stock to the Seller on August 30, 2021, pursuant to Section 4(a)(2) of the Securities Act of 1933.

46M 17M
Aug 12, 2021

10-Q filing | 46.1M shares outstanding

46M 17M
May 20, 2021

10-Q filing | 46.1M shares outstanding

46M 17M
Mar 26, 2021

10-K filing | 5.5M shares outstanding

5.5M 57M
Mar 26, 2021

S-1/A filing: The filing registers the issuance of common stock upon exercise of warrants and the resale of common stock and warrants by selling securityholders.

46M 17M
Feb 16, 2021

S-1 filing: The filing registers the issuance of common stock upon warrant exercise and resale of common stock and warrants by selling securityholders.

46M 17M
Dec 22, 2020

8-K filing: AMCI Acquisition Corp. entered into subscription agreements with PIPE Investors to purchase 6,500,000 shares of Class A Common Stock at $10.00 per share for an aggregate commitment of $65,000,000 in a private placement. ($65.0M proceeds)

9.1M 0
Nov 24, 2020

RW filing: This is a request to withdraw a registration statement on Form S-4 for 25,500,000 shares of common stock due to a future refiling.

9.1M 0
Nov 12, 2020

10-Q filing | 9.1M shares outstanding

9.1M 0
Oct 16, 2020

8-K filing: AMCI Acquisition Corp. entered into a Merger Agreement with Advent Technologies Inc., where Merger Sub will merge with Advent, and Advent stockholders will receive new shares of AMCI Class A Common Stock valued at $10.00 per share, with AMCI changing its name to Advent Technologies Holdings Inc. ($250.0M proceeds)

15M 0
Aug 10, 2020

10-Q filing | 14.9M shares outstanding

15M 0
May 11, 2020

10-Q filing | 5.5M shares outstanding

5.5M 0
Mar 27, 2020

10-K filing | 22.1M shares outstanding

22M 0
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