Cardio Diagnostics Holdings, Inc. (CDIO) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 15, 2026

Risk Assessment Details

Potential Dilution: 34.07% of current shares
Recent Dilution: 169.05% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
2.8M
Potential Supply
970K
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

CDIO currently has 2.84M outstanding shares. with moderate dilution risk from 968K authorized shares representing 34.1% potential dilution. The company has significantly diluted shareholders by 169.05% 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

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 15, 2026

10-Q filing | 2.8M shares outstanding

2.8M 970K
Sep 16, 2025

POS AM filing: This prospectus relates to the resale from time to time by the Selling Stockholders of up to an aggregate of 41,199 shares of common stock.

1.8M 970K
Aug 14, 2025

10-Q filing | 1.7M shares outstanding

1.7M 1M
May 15, 2025

10-Q filing | 1.7M shares outstanding

1.7M 1M
May 12, 2025
Stock Split

8-K filing: Stock split 1-for-30 | Outstanding: 52,145,416 → 1,738,180

1.7M 1M
Mar 20, 2025

10-K filing | 52.1M shares outstanding

52M 30M
Feb 07, 2025

S-3 filing: Cardio Diagnostics Holdings, Inc. is offering up to $9,476,508 of its common stock through an at-the-market offering via Craig-Hallum Capital Group LLC.

52M 30M
Nov 22, 2024

S-1 filing: This S-1 filing is for a company offering shares of common stock by selling stockholders.

40M 30M
Nov 13, 2024

10-Q filing | 40.4M shares outstanding

40M 29M
Aug 30, 2024

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

24M 29M
Aug 12, 2024

10-Q filing | 22.6M shares outstanding

23M 29M
May 15, 2024

10-Q filing | 21.1M shares outstanding

21M 29M
Apr 01, 2024

10-K filing | 21.6M shares outstanding

22M 29M
Jan 26, 2024

S-3 filing: Cardio Diagnostics Holdings, Inc. is offering shares of its common stock having a maximum aggregate offering price of up to $17.0 million from time to time through or to the Sales Agent, acting as our agent or as principal.

21M 29M
Nov 13, 2023

10-Q filing | 20.5M shares outstanding

21M 29M
Aug 14, 2023

10-Q filing | 11.8M shares outstanding

12M 29M
May 15, 2023

10-Q filing | 9.5M shares outstanding

9.5M 29M
Apr 24, 2023

POS AM filing: This is a prospectus for a secondary offering consisting of the issuance by the company of shares of common stock upon exercise of warrants and the resale of common stock and warrants by selling securityholders.

9.7M 29M
Apr 05, 2023

S-1 filing: This S-1 filing is for the resale of up to 20,363,637 shares of common stock by a selling securityholder.

9.6M 45M
Mar 31, 2023

10-K filing | 9.6M shares outstanding

9.6M 24M
Jan 13, 2023

S-1/A filing: This S-1/A filing relates to a secondary offering of common stock and warrants by selling securityholders and the issuance of shares upon exercise of warrants.

9.5M 24M
Dec 27, 2022

S-1/A filing: This S-1/A filing covers a secondary offering of 11,883,256 shares of common stock and 236,686 warrants to purchase shares of common stock, as well as the issuance of up to 3,486,686 shares of common stock upon exercise of warrants.

9.5M 38M
Dec 12, 2022

S-1 filing: This S-1 filing covers the primary issuance of common stock upon the exercise of warrants and resale of common stock and warrants by selling securityholders.

9.5M 25M
Nov 07, 2022

10-Q filing | 9.5M shares outstanding

9.5M 8.7M
Aug 10, 2022

10-Q filing | 8.1M shares outstanding

8.1M 8.7M
May 31, 2022

8-K filing: Mana Capital Acquisition Corp. entered into a Merger Agreement with Cardio Diagnostics, Inc., where Mana Merger Sub will merge with Cardio, and Mana Capital will change its name to Cardio Diagnostics Holdings Inc.

8.1M 8.7M
May 12, 2022

10-Q filing | 8.1M shares outstanding

8.1M 8.7M
Mar 31, 2022

10-K filing | 8.1M shares outstanding

8.1M 8.7M
Dec 06, 2021

8-K filing: Mana Capital Acquisition Corp. consummated its initial public offering of 6,200,000 units at $10.00 per unit, generating gross proceeds of $62,000,000, and completed a private sale of 2,500,000 warrants to Mana Capital LLC for $1.00 per warrant, generating gross proceeds of $2,500,000; the underwriters purchased an additional 300,000 option units pursuant to the partial exercise of the over-allotment option at $10.00 per unit, generating additional gross proceeds of $3,000,000; the Company issued the Sponsor a total of 75,000 shares of Common Stock in connection with the partial exercise by the underwriters of the Over-Allotment Option. ($67.5M proceeds)

1.6M 8.7M
Dec 03, 2021

8-K filing: Mana Capital Acquisition Corp. consummated its initial public offering of 6,200,000 units at $10.00 per Unit, generating gross proceeds of $62,000,000, and completed a private sale of 2,500,000 warrants to Mana Capital LLC for $1.00 per warrant, generating gross proceeds of $2,500,000. Additionally, the underwriters purchased 300,000 option units at $10.00 per unit for $3,000,000 in gross proceeds. The Company also issued 75,000 shares of Common Stock to the Sponsor. ($67.5M proceeds)

1.6M 8.7M
Nov 26, 2021

8-K filing: Mana Capital Acquisition Corp. consummated its IPO of 6,200,000 units at $10.00 per unit, generating gross proceeds of $62,000,000, and simultaneously completed a private sale of 2,500,000 warrants to the Sponsor at $1.00 per warrant, generating gross proceeds of $2,500,000. ($64.5M proceeds)

1.6M 8.7M
Nov 17, 2021

S-1/A filing: Initial public offering of 6,200,000 units at $10.00 per unit, each unit consisting of one share of common stock, one-half of one redeemable warrant, and one right to receive one-seventh (1/7) of a share of common stock upon the consummation of an initial business combination.

1.6M 8.7M
Nov 10, 2021

S-1/A filing: Initial public offering of 6,200,000 units at $10.00 per unit, each unit consists of one share of common stock, par value $0.00001, and one-half of one redeemable warrant and one right to receive one-seventh (1/7) of a share of common stock upon the consummation of an initial business combination. Concurrent private placement of 2,500,000 warrants to the sponsor at $1.00 per warrant with an exercise price of $11.50 per share.

1.6M 8.7M
Oct 19, 2021

S-1 filing: Mana Capital Acquisition Corp. is offering 6,000,000 units at $10.00 per unit, with each unit consisting of one share of common stock, one-half of one redeemable warrant, and one right to receive one-seventh (1/7) of a share of common stock upon the consummation of an initial business combination.

1.5M 8.5M
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