Webull Corp (BULL) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: April 16, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 65.2% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
450M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

BULL currently has 448M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 65.2% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 16, 2026

POS AM filing: This POS AM filing registers for resale (a) up to 147,445,012 Webull Class A Ordinary Shares, (b) 6,792,000 Webull Private Warrants held by Auxo and purchased by Auxo at $1.00 per warrant, and (c) 20,000,000 Webull Incentive Warrants issued for no consideration; however, as of the date of this prospectus, no Webull Private Warrants and no Webull Incentive Warrants remain outstanding following (i) the cashless exercise of the Webull Private Warrants by Auxo, and (ii) the redemption of any unexercised Incentive Warrants by Webull on June 30, 2025.

450M 0
Apr 16, 2026

POS AM filing: Post-Effective Amendment to remove unsold securities from registration and terminate the effectiveness of the Registration Statement.

490M 0
Sep 09, 2025

POS AM filing: This POS AM filing registers for resale (a) 159,236 Webull Class A Ordinary Shares issued pursuant to the Purchase Agreement to the Selling Securityholder as Commitment Shares at a deemed $12.56 purchase price per share, and (b) 75,000,000 Webull Class A Ordinary Shares that Webull may elect to issue and sell to the Selling Securityholder, from time to time, pursuant to the Purchase Agreement.

410M 0
Sep 09, 2025

POS AM filing: This prospectus relates to the resale of Webull Class A Ordinary Shares and Webull Private and Incentive Warrants by the Selling Securityholders.

490M 0
Jul 18, 2025

F-1 filing: This is an F-1 filing for the resale of Webull Class A Ordinary Shares by a selling securityholder, with a potential offering of up to $1,000,000,000 of Webull Class A Ordinary Shares pursuant to a purchase agreement.

400M 160M
May 01, 2025

F-1 filing: This F-1 filing registers for resale 147,445,012 Webull Class A Ordinary Shares, 6,792,000 Webull Private Warrants, and 20,000,000 Webull Incentive Warrants by the Selling Securityholders, as well as Webull Class A Ordinary Shares issuable upon exercise of warrants.

460M 100M
Apr 25, 2025

20-F filing | 378.5M shares outstanding

380M 0
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