Aqua Metals, Inc. (AQMS) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
AQMS currently has 3.24M outstanding shares. with significant dilution risk as 1.66M authorized shares could dilute existing holders by 51.2%. The company has significantly diluted shareholders by 259.11% 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
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 14, 2026 |
10-Q filing | 3.2M shares outstanding |
3.2M | 1.7M |
| Mar 31, 2026 |
10-K filing | 3.0M shares outstanding |
3M | 1.9M |
| Dec 18, 2025 |
RW filing: Aqua Metals, Inc. is requesting to withdraw the registration statement because it has elected not to pursue the secondary registration of securities pursuant to the registration statement and confirms that no securities were sold in connection with the offering contemplated by the registration statement. |
1.8M | 3M |
| Nov 12, 2025 |
10-Q filing | 1.8M shares outstanding |
1.8M | 4M |
| Oct 24, 2025 |
S-3 filing: This prospectus relates to the offer and resale of up to an aggregate of 1,133,794 shares of common stock issuable upon the exercise of certain common stock purchase warrants. |
3M | 2.9M |
| Oct 17, 2025 |
S-3 filing: The company is filing an S-3 form to register a shelf offering for up to $100,000,000 in aggregate offering price of common stock, debt securities, and subscription rights. |
1.8M | 2.9M |
| Oct 16, 2025 |
8-K filing: Aqua Metals, Inc. entered into a securities purchase agreement to issue and sell common stock and pre-funded warrants in a registered direct offering and common stock purchase warrants in a concurrent private placement for gross proceeds of approximately $13 million. ($12.86M proceeds) |
1.8M | 2.9M |
| Oct 02, 2025 |
S-1 filing: This S-1 filing outlines the offering of common stock by a selling stockholder, Lincoln Park Capital Fund, LLC, for resale of up to 1,000,000 shares that may be issued to them under a Purchase Agreement. |
1.8M | 2.9M |
| Aug 13, 2025 |
10-Q filing | 1.0M shares outstanding |
1M | 2.7M |
| Jun 04, 2025 |
S-1 filing: This S-1 filing relates to the offer and sale of up to 2,000,000 shares of common stock by Lincoln Park Capital Fund, LLC, with the company potentially receiving up to $10,000,000 in gross proceeds from sales of common stock to the Selling Stockholder. |
9.7M | 0 |
| May 16, 2025 |
8-K filing: Aqua Metals, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $10.0 million of the Company's common stock. |
8.1M | 0 |
| May 08, 2025 |
10-Q filing | 8.1M shares outstanding |
8.1M | 0 |
| Mar 31, 2025 |
10-K filing | 7.7M shares outstanding |
7.7M | 0 |
| Dec 23, 2024 |
8-K filing: Aqua Metals, Inc. completed a private placement of secured promissory notes and warrants for gross proceeds of $1,500,000 on December 19, 2024. |
6.8M | 0 |
| Nov 14, 2024 |
10-Q filing | 6.8M shares outstanding |
6.8M | 0 |
| Nov 01, 2024 |
Stock Split
8-K filing: Stock split 1-for-20 | Outstanding: 123,793,140 → 6,189,657 |
6.2M | 0 |
| Aug 14, 2024 |
10-Q filing | 123.8M shares outstanding |
120M | 0 |
| May 15, 2024 |
10-Q filing | 110.1M shares outstanding |
110M | 0 |
| May 15, 2024 |
8-K filing: Aqua Metals, Inc. entered into an underwriting agreement for an offering of 17,500,000 shares of common stock and warrants to purchase up to 17,500,000 shares of common stock at a public offering price of $0.39 per share and $0.01 per warrant, respectively. |
110M | 0 |
| Mar 28, 2024 |
10-K filing | 107.9M shares outstanding |
110M | 0 |
| Nov 08, 2023 |
10-Q filing | 101.6M shares outstanding |
100M | 0 |
| Aug 09, 2023 |
10-Q filing | 84.2M shares outstanding |
84M | 0 |
| Jul 21, 2023 |
8-K filing: Aqua Metals, Inc. entered into a Securities Purchase Agreement with Yulho Co, Ltd., agreeing to sell 4,545,455 shares of common stock at $1.10 per share, for gross proceeds of $5 million in a registered direct offering. ($5.0M proceeds) |
81M | 0 |
| Jul 19, 2023 |
8-K filing: Aqua Metals, Inc. entered into an underwriting agreement for an offering of 15,820,000 shares of common stock, with an over-allotment option for an additional 2,373,000 shares, estimating gross proceeds of $17,402,000 before deducting underwriting discounts and commissions and estimated offering expenses. ($17.4M proceeds) |
81M | 0 |
| May 04, 2023 |
10-Q filing | 81.3M shares outstanding |
81M | 0 |
| Mar 09, 2023 |
10-K filing | 75.8M shares outstanding |
76M | 0 |
| Nov 03, 2022 |
10-Q filing | 77.4M shares outstanding |
77M | 0 |
| Oct 07, 2022 |
S-3 filing: The company is filing an S-3 to offer common stock, debt securities, and subscription rights up to an aggregate offering price of $100,000,000. |
76M | 0 |
| Jul 21, 2022 |
10-Q filing | 75.2M shares outstanding |
75M | 0 |
| Apr 28, 2022 |
10-Q filing | 71.9M shares outstanding |
72M | 0 |
| Feb 24, 2022 |
10-K filing | 70.4M shares outstanding |
70M | 0 |
| Nov 04, 2021 |
10-Q filing | 69.8M shares outstanding |
70M | 0 |
| Jul 29, 2021 |
10-Q filing | 68.6M shares outstanding |
69M | 0 |
| Apr 29, 2021 |
10-Q filing | 67.8M shares outstanding |
68M | 0 |
| Feb 25, 2021 |
10-K filing | 64.5M shares outstanding |
64M | 0 |
| Feb 17, 2021 |
8-K filing: Aqua Metals issued 375,000 shares of common stock to LiNiCo in exchange for 1,500 shares of LiNiCo's Series A Preferred Stock valued at $1,500,000, along with a three-year warrant to purchase an additional 500 shares of LiNiCo Series A Preferred Stock at $1,000 per share. ($1.5M proceeds) |
61M | 0 |
| Oct 22, 2020 |
10-Q filing | 61.1M shares outstanding |
61M | 0 |
| Aug 04, 2020 |
10-Q filing | 60.9M shares outstanding |
61M | 0 |
| Apr 30, 2020 |
10-Q filing | 60.0M shares outstanding |
60M | 0 |
| Mar 11, 2020 |
10-K filing | 59.8M shares outstanding |
60M | 0 |