Airship AI Holdings, Inc. (AISP) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 266.79% of current shares
Recent Dilution: 57.4% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
34M
Potential Supply
92M
Additional shares possible
Splits
None
Past 2 years

Summary

AISP currently has 34.4M outstanding shares. with significant dilution risk as 91.8M authorized shares could dilute existing holders by 266.8%. The company has significantly diluted shareholders by 57.4% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 14, 2026

S-3/A filing: The company is filing a shelf registration to offer up to $100,000,000 of common stock, preferred stock, debt securities, warrants, or units.

34M 92M
May 08, 2026

10-Q filing | 34.4M shares outstanding

34M 53M
Nov 14, 2025

10-Q filing | 32.0M shares outstanding

32M 53M
Oct 28, 2025

S-3 filing: This prospectus relates to the resale of common stock by the selling stockholder to be issued upon the exercise of common stock purchase warrants pursuant to an inducement offer letter agreement.

34M 53M
Oct 09, 2025

8-K filing: Airship AI Holdings, Inc. entered into an inducement letter with a warrant holder to exercise existing warrants for 2,162,162 shares at $4.50 per share, in exchange for new warrants to purchase 2,702,702 shares at $6.20 per share, with gross proceeds of approximately $9,729,729. ($9.73M proceeds)

32M 50M
Aug 05, 2025

10-Q filing | 31.9M shares outstanding

32M 52M
Jun 06, 2025

POS AM filing: This prospectus relates to the resale of common stock by selling securityholders and the issuance of common stock upon the exercise of public warrants.

32M 52M
May 15, 2025

10-Q filing | 31.7M shares outstanding

32M 54M
Mar 10, 2025

S-3 filing: The company may offer and sell shares of common stock, preferred stock, debt securities, warrants, or any combination of those securities up to an aggregate initial offering price of $50,000,000.

32M 54M
Feb 28, 2025

10-K filing | 31.7M shares outstanding

32M 40M
Jan 23, 2025

S-3 filing: This prospectus relates to the resale of up to 2,162,162 shares of common stock to be issued upon the exercise of common stock purchase warrants.

33M 40M
Dec 31, 2024

8-K filing: Airship AI Holdings, Inc. reduced the exercise price of its outstanding public and private warrants to potentially raise proceeds for working capital and general corporate purposes.

25M 38M
Dec 26, 2024

8-K filing: Airship AI Holdings, Inc. entered into a warrant exercise inducement offer letter with a holder of its existing common stock warrants, resulting in the exercise of warrants for 2,882,883 shares at $2.65 per share, and the issuance of new warrants to purchase 2,162,162 shares at $4.50 per share. ($7.64M proceeds)

25M 38M
Nov 14, 2024

10-Q filing | 24.7M shares outstanding

25M 38M
Aug 22, 2024

S-1/A filing: Reasonable best efforts public offering of up to 2,801,120 shares of our common stock together with up to 2,801,120 common warrants to purchase up to 2,801,120 shares of common stock.

24M 38M
Aug 14, 2024

10-Q filing | 23.2M shares outstanding

23M 38M
Aug 07, 2024

S-1 filing: This is a reasonable best efforts public offering of up to 2,717,391 shares of our common stock, together with up to 2,717,391 common warrants to purchase up to 2,717,391 shares of common stock at an assumed combined public offering price of $3.68 per share and common warrant.

24M 38M
Jul 29, 2024

RW filing: The Company has determined not to proceed with the offering contemplated by the Registration Statement at this time.

24M 32M
Jul 08, 2024

S-1/A filing: Airship AI Holdings, Inc. is offering 2,144,772 shares of its common stock at an assumed price of $3.73 per share. The underwriters also have a 45-day option to purchase up to an aggregate of 321,715 additional shares.

24M 35M
Jul 08, 2024

S-1/A filing: Airship AI Holdings, Inc. is offering 2,144,772 shares of its common stock at an assumed public offering price of $3.73 per share.

24M 35M
Jun 24, 2024

8-K filing: Airship AI Holdings, Inc. issued 232,360 restricted common stock to Platinum Capital Partners Inc. in payment of interest and extension fees related to an Amended and Restated Senior Secured Convertible Promissory Note.

23M 64M
Jun 21, 2024

S-1 filing: Airship AI Holdings, Inc. is offering shares of its common stock. The underwriters have a 45-day option to purchase up to an aggregate of shares of common stock (equal to 15% of the number of shares of common stock sold in this offering).

23M 64M
May 15, 2024

10-Q filing | 22.9M shares outstanding

23M 64M
Apr 30, 2024

S-1/A filing: This S-1/A filing registers for resale shares of common stock, shares of common stock issuable upon exercise of warrants, options, and conversion of a convertible note by selling securityholders, and also registers the primary issuance of shares of common stock underlying public warrants.

23M 64M
Apr 10, 2024

S-1/A filing: This S-1/A filing registers for resale shares of common stock held by selling securityholders, including shares issued as merger consideration, founder shares, shares issued for financial services, shares issued upon exercise of warrants, and shares issued upon conversion of convertible promissory notes. It also registers the primary issuance of shares underlying public warrants.

23M 64M
Apr 01, 2024

10-K filing | 22.9M shares outstanding

23M 64M
Mar 06, 2024

S-1/A filing: This S-1/A filing registers for resale by certain selling securityholders up to 12,406,202 shares of common stock, 2,689,902 shares of common stock issuable upon the exercise of warrants, 1,758,105 shares of common stock issuable upon the exercise of options, 931,794 shares of common stock issuable upon the conversion of a convertible note, and 189,334 shares of common stock issuable upon the exercise of a warrant. It also relates to the issuance of up to 16,184,612 shares of common stock upon the exercise of public warrants.

23M 64M
Feb 07, 2024

S-1 filing: This S-1 filing registers for resale shares of common stock held by selling securityholders, shares issuable upon exercise of warrants and options, and shares issuable upon conversion of a convertible note, as well as registering the primary issuance of shares of common stock underlying public warrants.

23M 64M
Feb 06, 2024

8-K filing: Airship AI Holdings, Inc. issued an Amended and Restated Senior Secured Convertible Promissory Note to Platinum Capital Partners Inc. for $2,000,000 and issued an Amended and Restated Common Stock Purchase Warrant to purchase 189,334 shares of Common Stock.

11M 30M
Dec 18, 2023

8-K filing: BYTE Acquisition Corp. (BYTS) entered into a non-redemption agreement with its sponsor, Byte Holdings LP, and the sponsor acquired 570,555 public shares to reduce redemptions in connection with the proposed business combination with Airship AI. ($6.03M proceeds)

11M 30M
Nov 01, 2023

10-Q filing | 11.0M shares outstanding

11M 30M
Aug 14, 2023

10-Q filing | 11.5M shares outstanding

11M 30M
Jun 27, 2023

8-K filing: BYTE Acquisition Corp. entered into a merger agreement with Airship AI Holdings, Inc., where Airship AI equityholders will receive 22.5 million Parent Common Shares and may receive up to 5 million additional Parent Common Shares based on performance milestones.

11M 30M
May 15, 2023

8-K filing: Holders of 30,006,034 Class A ordinary shares of BYTE Acquisition Corp. properly exercised their right to redeem their shares for cash at approximately $10.20 per share, later adjusted to $10.22 per share due to an administrative error. ($306.06M proceeds)

11M 30M
May 05, 2023

10-Q filing | 11.5M shares outstanding

11M 30M
Mar 31, 2023

10-K filing | 3.4M shares outstanding

3.4M 30M
Nov 07, 2022

10-Q filing | 33.4M shares outstanding

33M 30M
Aug 12, 2022

10-Q filing | 32.4M shares outstanding

32M 30M
May 12, 2022

10-Q filing | 32.4M shares outstanding

32M 30M
Apr 06, 2022

10-K filing | 33.4M shares outstanding

33M 30M
Nov 18, 2021

10-Q filing | 33.4M shares outstanding

33M 30M
Aug 20, 2021

10-Q filing | 33.4M shares outstanding

33M 30M
May 27, 2021

10-Q filing | 32.4M shares outstanding

32M 30M
Apr 13, 2021

8-K filing: BYTE Acquisition Corp. consummated its initial public offering of 30,000,000 units at $10.00 per Unit, generating gross proceeds of $300,000,000. The underwriters exercised the over-allotment option in part and purchased an additional 2,369,251 Units, generating gross proceeds of $23,692,510. Simultaneously with the closing of the IPO, the Company completed the private sale of 1,030,000 units to Byte Holdings LP at $10.00 per Private Placement Unit, generating gross proceeds of $10,300,000. ($333.99M proceeds)

N/A 30M
Mar 29, 2021

8-K filing: BYTE Acquisition Corp. consummated its initial public offering of 30,000,000 units at $10.00 per Unit, generating gross proceeds of $300,000,000, and completed a private sale of 1,030,000 units to Byte Holdings LP at $10.00 per unit, generating gross proceeds of $10,300,000. ($310.3M proceeds)

N/A 30M
Mar 23, 2021

8-K filing: BYTE Acquisition Corp. consummated its initial public offering of 30,000,000 units at $10.00 per Unit, generating gross proceeds of $300,000,000, and simultaneously completed a private sale of 1,030,000 warrants to the Sponsor at $10.00 per Private Placement Unit, generating gross proceeds of $10,300,000. ($310.3M proceeds)

N/A 30M
Mar 12, 2021

S-1/A filing: BYTE Acquisition Corp. is offering 30,000,000 units at $10.00 per unit, each unit consisting of one Class A ordinary share and one-half of one redeemable warrant in an initial public offering.

N/A 30M
Feb 26, 2021

S-1 filing: This S-1 filing describes the registration of Units, Class A Ordinary Shares, and Warrants under the Securities Exchange Act of 1934. The company is offering 30,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant.

N/A 30M
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