Borealis Foods Inc. (BRLS) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: June 02, 2026

Risk Assessment Details

Potential Dilution: 70.0% of current shares
Recent Dilution: 5.66% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
21M
Potential Supply
15M
Additional shares possible
Splits
None
Past 2 years

Summary

BRLS currently has 21.4M outstanding shares. with significant dilution risk as 15M authorized shares could dilute existing holders by 70.0%. The company has minimally diluted shareholders by 5.66% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jun 02, 2026

10-K filing | 21.4M shares outstanding

21M 15M
Nov 19, 2025

10-Q filing | 21.5M shares outstanding

21M 15M
Aug 19, 2025

10-Q filing | 21.4M shares outstanding

21M 15M
May 20, 2025

10-Q filing | 21.4M shares outstanding

21M 15M
Apr 15, 2025

10-K filing | 20.3M shares outstanding

20M 15M
Nov 14, 2024

10-Q filing | 21.4M shares outstanding

21M 15M
Aug 14, 2024

10-Q filing | 21.4M shares outstanding

21M 15M
May 21, 2024

10-Q filing | 21.4M shares outstanding

21M 15M
Apr 15, 2024

10-K filing | 21.4M shares outstanding

21M 15M
Feb 13, 2024

8-K filing: New Investor Convertible Notes converted into 4,163,510 New Borealis Common Shares immediately following the New Borealis Amalgamation.

3.7M 15M
Nov 20, 2023

10-Q filing | 3.7M shares outstanding

3.7M 15M
Aug 18, 2023

10-Q filing | 3.7M shares outstanding

3.7M 15M
May 22, 2023

10-Q filing | 3.7M shares outstanding

3.7M 15M
Apr 12, 2023

8-K filing: Oxus Capital Pte. Ltd., the Company's sponsor, exercised its right to convert 1,500,000 shares of Class B ordinary shares into 1,500,000 shares of Class A ordinary shares on a one-for-one basis.

6.6M 15M
Mar 31, 2023

10-K filing | 2.2M shares outstanding

2.2M 15M
Nov 14, 2022

10-Q filing | 17.3M shares outstanding

17M 15M
Aug 02, 2022

10-Q filing | 17.6M shares outstanding

18M 15M
May 23, 2022

10-Q filing | 17.3M shares outstanding

17M 15M
Mar 31, 2022

10-K filing | 17.3M shares outstanding

17M 15M
Nov 15, 2021

10-Q filing | 4.3M shares outstanding

4.3M 15M
Sep 15, 2021

8-K filing: Oxus Acquisition Corp. consummated its initial public offering of 15,000,000 units at $10.00 per Unit, generating gross proceeds of $150,000,000, and simultaneously completed a private placement of 8,400,000 warrants at $1.00 per warrant, generating gross proceeds of $8,400,000. Additionally, the underwriters exercised their over-allotment option and purchased 2,250,000 additional Units at $10.00 per Unit, generating gross proceeds of $22,500,000. ($180.9M proceeds)

N/A 15M
Sep 09, 2021

8-K filing: Oxus Acquisition Corp. consummated an initial public offering of 15,000,000 units at $10.00 per unit, generating gross proceeds of $150,000,000, and simultaneously completed a private placement of 8,400,000 warrants at $1.00 per warrant, generating gross proceeds of $8,400,000. ($158.4M proceeds)

N/A 15M
Aug 19, 2021

S-1/A filing: An aggregate of $153,000,000 (or $175,950,000 if the over-allotment option is exercised in full) or $10.20 per unit sold to the public in this offering will be deposited in a U.S.-based trust account.

N/A 15M
Jul 27, 2021

S-1 filing: This S-1 filing describes a unit offering with an aggregate amount of $151,500,000, or $174,225,000 if the over-allotment option is exercised in full, at $10.10 per unit.

N/A 0
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