Cartesian Growth Corp III (CGCT) - 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: 94.2% of current shares
Recent Dilution: 380.0% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
28M
Potential Supply
26M
Additional shares possible
Splits
None
Past 2 years

Summary

CGCT currently has 27.6M outstanding shares. with significant dilution risk as 26M authorized shares could dilute existing holders by 94.2%. The company has significantly diluted shareholders by 380.0% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 15, 2026

10-Q filing | 27.6M shares outstanding

28M 26M
Dec 18, 2025

8-K filing: Cartesian Growth Corporation III, Fenway MS, Inc., and Factorial Inc. entered into a Business Combination Agreement, which includes a merger and domestication of CGC to Delaware as Factorial Holdings, Inc. ($75.0M proceeds)

28M 26M
Nov 14, 2025

10-Q filing | 27.6M shares outstanding

28M 26M
Jun 17, 2025

10-Q filing | 27.6M shares outstanding

28M 26M
May 12, 2025

8-K filing: Cartesian Growth Corporation III completed its initial public offering of 27,600,000 units at $10.00 per unit, generating gross proceeds of $276,000,000, and consummated a private placement of warrants generating gross proceeds of $6,800,000. ($282.8M proceeds)

5.8M 26M
May 07, 2025

8-K filing: Cartesian Growth Corporation III consummated an initial public offering of 27,600,000 units at $10.00 per unit, generating gross proceeds of $276,000,000, and simultaneously consummated a private placement of 4,400,000 warrants to the Sponsor and 2,400,000 warrants to Cantor at $1.00 per warrant, generating gross proceeds of $6,800,000. ($282.8M proceeds)

5.8M 26M
Apr 14, 2025

S-1/A filing: Cartesian Growth Corporation III is offering 20,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant, and is also offering 6,000,000 private placement warrants at $1.00 per warrant.

5.8M 26M
Apr 10, 2025

S-1/A filing: The filing relates to the private placement of warrants to purchase Class A ordinary shares by the sponsor and underwriter.

5.8M 6M
Apr 03, 2025

S-1/A filing: The company proposes to issue and sell 20,000,000 units at $10.00 per Firm Unit, each unit consisting of one Class A ordinary share and one-half of one redeemable warrant.

5.8M 20M
Mar 21, 2025

S-1/A filing: This S-1/A filing is for an initial public offering of 20,000,000 units of Cartesian Growth Corporation III, a blank check company, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant, at an offering price of $10.00 per unit, along with a simultaneous private placement of warrants.

5.8M 26M
Mar 05, 2025

S-1/A filing: This S-1/A filing pertains to the initial public offering of Cartesian Growth Corporation III, a blank check company, offering 20,000,000 units at $10.00 each, with each unit comprising one Class A ordinary share and one-half of one redeemable warrant, along with a private placement of warrants to the sponsor and underwriters.

5.8M 26M
Jan 29, 2025

S-1 filing: Cartesian Growth Corporation III is offering 20,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant, along with a private placement of 6,000,000 warrants at $1.00 per warrant.

5.8M 26M
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