Agrify Corp (AGFY) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: December 12, 2025

Risk Assessment Details

Potential Dilution: 26.07% of current shares
Recent Dilution: 91.44% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
2M
Potential Supply
520K
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

AGFY currently has 2M outstanding shares. with moderate dilution risk from 522K authorized shares representing 26.1% potential dilution. The company has significantly diluted shareholders by 91.44% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Dec 12, 2025

S-3/A filing: Rythm, Inc. may issue up to $100,000,000 in aggregate principal amount of common stock, preferred stock, debt securities, warrants, and/or units.

2M 520K
Nov 07, 2025

10-Q filing | 2.0M shares outstanding

2M 520K
Aug 08, 2025

10-Q filing | 2.0M shares outstanding

2M 520K
May 09, 2025

10-Q filing | 2.0M shares outstanding

2M 520K
Mar 21, 2025

10-K filing | 2.0M shares outstanding

2M 520K
Dec 16, 2024

8-K filing: Agrify Corporation acquired the Señorita brand of beverages and related assets from Double or Nothing LLC, issuing 97,300 shares of common stock and pre-funded warrants to acquire up to 432,700 shares of common stock as consideration.

1.5M 520K
Nov 21, 2024

8-K filing: Agrify Corporation entered into Securities Purchase Agreements for the sale of 203,988 shares of common stock and pre-funded warrants to purchase up to 949,515 shares of common stock in a private placement offering. ($25.9M proceeds)

1.5M 520K
Nov 14, 2024

10-Q filing | 1.5M shares outstanding

1.5M 520K
Oct 23, 2024

S-1/A filing: This prospectus relates to the proposed resale of up to 313,333 shares of common stock, which may be issued pursuant to a purchase agreement between Agrify Corporation and Ionic Ventures, LLC, which allows Agrify to direct Ionic to purchase up to $15,000,000 of shares of common stock over a 36-month term.

950K 520K
Oct 08, 2024
Stock Split

8-K filing: Stock split 1-for-15 | Outstanding: 14,230,447 → 948,696

950K 210K
Oct 01, 2024

8-K filing: Agrify Corporation amended pre-funded warrants with CP Acquisitions, LLC and GIC Acquisition LLC, adjusting share amounts and exercise provisions based on subsequent equity issuances and agreements.

14M 3.2M
Sep 27, 2024

S-1 filing: The company entered into a securities purchase agreement for the sale of common stock and warrants in a private placement offering with gross proceeds of approximately $27.3 million.

14M 3.2M
Sep 04, 2024

8-K filing: Agrify Corporation and Mack Molding Company amended their Modification Agreement, modifying payment terms and VFU purchase requirements. Agrify agreed to make payments of $1.0 million prior to October 31, 2024, and an additional $1.0 million prior to December 31, 2024, and to purchase at least 25 VFUs prior to October 31, 2024, and a further 25 VFUs between November 1, 2024, and December 31, 2024. Upon payment, the Mack Warrant will be terminated.

14M 3.1M
Aug 29, 2024

8-K filing: Agrify Corporation entered into a purchase agreement with Ionic Ventures, LLC, for the sale of up to $15.0 million of the Company's common stock, and also amended the CP Warrant and the GIC Warrant to reinsert adjustment provisions. ($0.4M proceeds)

14M 3.1M
Aug 14, 2024

10-Q filing | 14.2M shares outstanding

14M 3.1M
Jul 03, 2024

8-K filing: Agrify Corporation amended pre-funded warrants with CP Acquisitions, LLC and GIC Acquisition LLC, removing an adjustment provision that would increase warrant shares upon new equity financings and increasing the change of control threshold.

14M 3.1M
May 21, 2024

10-Q filing | 14.2M shares outstanding

14M 3.1M
May 16, 2024

8-K filing: Agrify Corporation entered into an agreement to merge with Nature's Miracle Holding Inc., and Nature's Miracle entered into a Debt Purchase Agreement to purchase debt from CP Acquisitions, LLC and GIC Acquisition LLC, owned by Agrify's CEO and director.

14M 3.1M
Apr 15, 2024

10-K filing | 13.7M shares outstanding

14M 3.1M
Feb 28, 2024

8-K filing: Agrify Corporation issued 2,760,000 shares of common stock and pre-funded warrants to purchase 3,963,684 shares at $0.38 and $0.379 respectively, with net proceeds estimated at $2.2 million for working capital and general corporate purposes.

7.1M 3.1M
Feb 14, 2024

S-1/A filing: This S-1/A filing, dated February 14, 2024, relates to an offering of 2,288,330 shares of common stock and pre-funded warrants to purchase 2,288,330 shares of common stock at an assumed price of $0.6555 per share, as well as placement agent warrants.

7.1M 3.1M
Feb 08, 2024

S-1/A filing: This S-1/A filing registers 2,014,234 shares of common stock and Pre-Funded Warrants to purchase 2,014,234 shares of common stock at an assumed price of $0.7447 per share, and also registers 40,285 shares of common stock issuable to the placement agent upon the exercise of a warrant.

7.1M 2.9M
Jan 26, 2024

S-1 filing: Agrify, Inc. is offering shares of common stock and pre-funded warrants, with the intent to use the net proceeds for working capital and general corporate purposes, including capital expenditures and debt repayment.

6.8M 810K
Jan 25, 2024

8-K filing: The company issued 2,473,542 shares of common stock upon the cashless exercise of warrants by the Prior Lender on January 22, 2024, representing the full exercise of the Abeyance Warrant and partial exercise of the Exchange Warrant.

1.6M 810K
Jan 03, 2024

10-Q filing | 1.6M shares outstanding

1.6M 810K
Dec 12, 2023

10-Q filing | 1.5M shares outstanding

1.5M 810K
Nov 30, 2023

8-K filing: CP Acquisitions LLC, an entity affiliated with the Chief Executive Officer of Agrify Corporation, agreed to forgive $1.0 million of principal amount outstanding under the Note in connection with the grant of 1,774,409 restricted stock units to officers, directors and employees.

1.7M 810K
Nov 28, 2023

10-Q filing | 1.7M shares outstanding

1.7M 810K
Nov 28, 2023

10-K filing | 1.7M shares outstanding

1.7M 810K
Jul 05, 2023
Stock Split

8-K filing: Stock split 1-for-20 | Outstanding: 8,876,362 → 1,622,947

1.6M 810K
Dec 16, 2022

8-K filing: Agrify Corporation entered into an underwriting agreement to issue and sell 11,884,615 shares of common stock and pre-funded warrants to purchase 1,500,000 shares, along with warrants to purchase 26,769,230 shares of common stock at a combined price of $0.65 per share/warrant package, estimating net proceeds of $8.2 million.

8.9M 16M
Nov 14, 2022

10-Q filing | 8.9M shares outstanding

8.9M 16M
Oct 27, 2022

8-K filing: Agrify Corporation sold 6,083,817 shares of common stock under the ATM Program for aggregate gross proceeds of $15.40 million and net proceeds of $14.94 million as of October 26, 2022. ($15.4M proceeds)

2.7M 16M
Oct 18, 2022
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 26,582,104 → 2,658,210

2.7M 16M
Aug 15, 2022

10-Q filing | 26.6M shares outstanding

27M 160M
Jun 17, 2022

S-3 filing: Agrify Corporation files an S-3 to offer up to $200,000,000 in aggregate principal amount of common stock, preferred stock, warrants, debt securities and/or units.

25M 160M
May 31, 2022

S-3/A filing: This S-3/A filing registers 6,881,108 shares of common stock for resale by a selling stockholder, underlying common stock purchase warrants issued in a private placement on March 23, 2022.

25M 69M
May 20, 2022

S-3 filing: Registration for resale of 6,881,108 shares of common stock underlying common stock purchase warrants issued to the selling stockholder in a private placement.

25M 69M
May 16, 2022

10-Q filing | 24.6M shares outstanding

25M 62M
Mar 31, 2022

10-K filing | 26.5M shares outstanding

27M 62M
Feb 09, 2022

S-3 filing: Registration for resale by selling stockholders named herein an aggregate of 7,036,739 shares of our Common Stock.

21M 62M
Feb 02, 2022

8-K filing: Agrify Corporation acquired Lab Society and issued 425,611 shares of its common stock as part of the purchase consideration.

21M 55M
Jan 26, 2022

8-K filing: Agrify Corporation entered into a Securities Purchase Agreement for the sale of 2,450,350 shares of common stock, pre-funded warrants to purchase up to 1,570,644 shares of common stock, and warrants to purchase up to 3,015,745 shares of common stock in a private placement, with gross proceeds expected to be approximately $27.3 million. ($27.3M proceeds)

21M 55M
Jan 05, 2022

8-K filing: Agrify Corporation acquired PurePressure, LLC, issuing 329,179 shares of common stock as part of the purchase consideration.

21M 55M
Nov 12, 2021

10-Q filing | 20.8M shares outstanding

21M 55M
Aug 13, 2021

10-Q filing | 20.6M shares outstanding

21M 55M
May 17, 2021

10-Q filing | 20.3M shares outstanding

20M 55M
Mar 22, 2021

8-K filing: Agrify Corporation closed on the sale of an additional 833,333 shares of common stock at a price of $13.50 per share, bringing the total shares sold in the offering to 6,388,888 and net proceeds to approximately $80 million. ($80.0M proceeds)

N/A 55M
Feb 22, 2021

8-K filing: Agrify Corporation granted ten-year options to purchase 1,050,000 shares of its common stock to its executive officers and directors with an exercise price of $13.84 per share, vesting monthly over 36 months.

N/A 55M
Feb 19, 2021

8-K filing: Agrify Corporation completed a public offering of 5,555,555 shares of common stock at $13.50 per share, resulting in net proceeds of approximately $69.5 million. ($0.0M proceeds)

N/A 55M
Feb 11, 2021

S-1 filing: This S-1 filing includes common stock and representative's warrants to purchase common stock, with a proposed maximum aggregate offering price of $107,812,500 for the common stock underlying the warrants.

N/A 55M
Feb 04, 2021

8-K filing: Agrify Corporation consummated its initial public offering (IPO) of 5,400,000 shares of common stock at $10.00 per share on February 1, 2021, and subsequently closed on the sale of an additional 810,000 shares at $10.00 per share on February 4, 2021, after the underwriters exercised their over-allotment option, bringing the total shares sold to 6,210,000 and net proceeds to approximately $57 million.

N/A 55M
Feb 02, 2021

8-K filing: Agrify Corporation completed its initial public offering of 5,400,000 shares of common stock at a price of $10.00 per share on February 1, 2021, resulting in net proceeds of approximately $49.4 million. ($54.0M proceeds)

N/A 55M
Jan 26, 2021

S-1/A filing: This S-1/A filing includes the registration of common stock, representative's warrants to purchase common stock, and common stock underlying representative's warrants.

N/A 55M
Jan 26, 2021

S-1/A filing: This S-1/A filing includes the offering of common stock and representative's warrants to purchase common stock.

N/A 55M
Jan 13, 2021

S-1/A filing: This S-1/A filing includes information regarding the offering of common stock, representative's warrants to purchase common stock, and common stock underlying representative's warrants.

N/A 30M
Dec 22, 2020

S-1 filing: This S-1 filing includes information about common stock, representative's warrants to purchase common stock, and common stock underlying the representative's warrants.

N/A 0
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