ASP Isotopes Inc. (ASPI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 20, 2026

Risk Assessment Details

Potential Dilution: 28.27% of current shares
Recent Dilution: 114.52% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
120M
Potential Supply
34M
Additional shares possible
Splits
None
Past 2 years

Summary

ASPI currently has 121M outstanding shares. with moderate dilution risk from 34.2M authorized shares representing 28.3% potential dilution. The company has significantly diluted shareholders by 114.52% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 20, 2026

10-Q filing | 121.0M shares outstanding

120M 34M
Aug 14, 2025

10-Q filing | 91.9M shares outstanding

92M 34M
Jul 24, 2025

8-K filing: ASP Isotopes Inc. entered into an underwriting agreement for a registered direct offering of 7,500,000 shares of common stock at $8.00 per share, with the Underwriters purchasing the shares at $7.52 per share, resulting in estimated net proceeds of $56.2 million. ($60.0M proceeds)

69M 34M
Jun 02, 2025

8-K filing: ASP Isotopes Inc. entered into an underwriting agreement for a registered direct offering of 7,518,797 shares of common stock at $6.65 per share, with the offering expected to close on or about June 3, 2025. ($46.8M proceeds)

69M 34M
May 28, 2025

8-K filing: ASP Isotopes Inc. issued 1,294,778 shares of common stock to Armistice Capital Master Fund Ltd. and another warrant holder, receiving approximately $4.9 million in gross proceeds from the exercise of warrants. ($4.9M proceeds)

69M 34M
May 20, 2025

8-K filing: ASP Isotopes Inc. will issue up to 14,270,000 shares of its common stock to acquire all of the issued ordinary shares of Renergen Limited, with Renergen's securityholders owning approximately 16% of the combined entity post-transaction.

72M 34M
May 20, 2025

10-Q filing | 69.5M shares outstanding

69M 34M
Apr 30, 2025

S-3 filing: Aspen Group, Inc. files an S-3 form to register a shelf offering of common stock, preferred stock, and debt securities, with an aggregate offering price of up to $100 million.

72M 34M
Mar 31, 2025

10-K filing | 72.1M shares outstanding

72M 16M
Nov 19, 2024

10-Q filing | 71.4M shares outstanding

71M 16M
Nov 04, 2024

8-K filing: ASP Isotopes Inc. completed a public offering of 2,754,250 shares of common stock at $6.75 per share, resulting in net proceeds of approximately $17.1 million. ($17.1M proceeds)

49M 16M
Nov 04, 2024

8-K filing: ASP Isotopes Inc. closed its underwritten public offering of shares of its common stock, selling 2,754,250 shares at $6.75 per share, resulting in gross proceeds of $18.6 million. ($18.6M proceeds)

49M 16M
Aug 19, 2024

10-Q filing | 48.9M shares outstanding

49M 16M
Jul 15, 2024

8-K filing: ASP Isotopes Inc. announced the closing of a public offering of shares of its common stock, selling 13,800,000 shares at $2.50 per share, resulting in gross proceeds of $34.5 million. ($34.5M proceeds)

52M 16M
Jul 12, 2024

8-K filing: ASP Isotopes Inc. entered into an underwriting agreement with Canaccord Genuity LLC for a public offering of 12,000,000 shares of common stock at $2.50 per share, with the underwriter having an option to purchase an additional 1,800,000 shares. ($30.0M proceeds)

52M 16M
May 31, 2024

S-3 filing: Aspira Women's Health Inc. filed an S-3 form on 2024-05-31, indicating a shelf offering of common stock, preferred stock, and debt securities, with a total proposed amount of $50,000,000.

52M 16M
May 15, 2024

10-Q filing | 48.9M shares outstanding

49M 6.3M
May 09, 2024

S-3 filing: This S-3 filing covers the resale of up to 1,225,000 shares of common stock issuable upon the exercise of warrants held by the selling stockholder.

49M 6.3M
Apr 10, 2024

10-K filing | 48.9M shares outstanding

49M 5.1M
Apr 09, 2024

8-K filing: ASP Isotopes Inc. entered into a warrant inducement agreement with a holder to exercise existing warrants for 3,164,557 shares at $1.75 per share, resulting in gross proceeds of approximately $5.5 million, and issued new warrants to purchase 1,225,000 shares. ($5.5M proceeds)

36M 5.1M
Nov 21, 2023

S-1 filing: The filing describes a private placement offering where the company issued shares of common stock and warrants. It also mentions the engagement of H.C. Wainwright & Co., LLC as the placement agent and the issuance of warrants to the placement agent.

36M 5.1M
Nov 14, 2023

10-Q filing | 35.9M shares outstanding

36M 1.7M
Nov 03, 2023

8-K filing: ASP Isotopes Inc. entered into a Share Purchase Agreement with Nucleonics Imaging Proprietary Limited to purchase 51% of the issued share capital of Pet Labs Pharmaceuticals Proprietary Limited for $2,000,000, with an option to purchase the remaining 49% for $2,200,000. ($2.0M proceeds)

36M 1.7M
Oct 12, 2023

8-K filing: ASP Isotopes Inc. entered into Securities Purchase Agreements to issue and sell 9,952,510 shares of common stock for approximately $9.1 million in a private placement. ($9.1M proceeds)

36M 1.7M
Aug 14, 2023

10-Q filing | 35.9M shares outstanding

36M 1.7M
May 19, 2023

10-Q filing | 35.9M shares outstanding

36M 1.7M
Mar 31, 2023

10-K filing | 35.9M shares outstanding

36M 1.7M
Mar 17, 2023

8-K filing: ASP Isotopes Inc. closed a private placement offering on March 17, 2023, issuing 3,167,557 shares of common stock and warrants to purchase up to 3,167,557 shares, at a purchase price of $1.58 per share and warrant, for gross proceeds of approximately $5 million. ($5.0M proceeds)

34M 1.7M
Dec 22, 2022

10-Q filing | 34.4M shares outstanding

34M 1.7M
Nov 16, 2022

8-K filing: ASP Isotopes Inc. closed a public offering of 1,250,000 shares of common stock at $4.00 per share, resulting in gross proceeds of approximately $5.0 million. ($5.0M proceeds)

N/A 1.7M
Nov 09, 2022

S-1/A filing: This S-1/A filing relates to an initial public offering of common stock with an anticipated price between $4.00 and $5.00 per share. The underwriters have an option to purchase additional shares.

N/A 1.7M
Nov 04, 2022

S-1/A filing: This S-1/A filing indicates an initial public offering of common stock with an expected price between $4.00 and $5.00 per share. The underwriters have an option to purchase additional shares. The closing of this offering is contingent upon the successful listing of our Common Stock on the Nasdaq Capital Market.

N/A 1.7M
Oct 31, 2022

S-1/A filing: This is an S-1/A filing for an initial public offering of common stock with an anticipated price between $4.00 and $5.00 per share. The underwriters have an option to purchase an additional 225,000 shares. Selling stockholders are offering an additional 2,057,500 shares, but the company will not receive proceeds from those sales.

N/A 1.7M
Oct 19, 2022

S-1/A filing: This S-1/A filing relates to a proposed initial public offering of common stock with an anticipated price between $5.00 and $7.00 per share, with Revere Securities LLC as the sole book-running manager, including an underwriter option to purchase additional shares.

N/A 2.3M
Oct 11, 2022

S-1/A filing: This S-1/A filing indicates an initial public offering of common stock with an expected price between $5.00 and $7.00 per share. The underwriters have an option to purchase up to an additional 300,000 shares.

N/A 2.3M
Sep 12, 2022

S-1 filing: S-1 filing for an initial public offering, including an option for underwriters to purchase additional shares and an offering of shares by selling stockholders.

N/A 0
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