Cingulate Inc. (CING) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 79.08% of current shares
Recent Dilution: 438.57% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
13M
Potential Supply
10M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

CING currently has 13.3M outstanding shares. with significant dilution risk as 10.5M authorized shares could dilute existing holders by 79.1%. The company has significantly diluted shareholders by 438.57% 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 14, 2026

10-Q filing | 13.3M shares outstanding

13M 10M
Apr 14, 2026

S-3 filing: This prospectus relates to the offer and resale, from time to time, by the selling stockholders identified in this prospectus of up to 4,208,711 shares of Cingulate Inc.'s common stock issued in a private placement.

7.3M 10M
Jan 12, 2026

S-3 filing: Cingulate Inc. files an S-3 form to register for offering and sale from time to time up to $200,000,000 aggregate offering price of common stock, preferred stock, warrants, debt securities, subscription rights or units.

7.3M 6.3M
Nov 13, 2025

10-Q filing | 6.8M shares outstanding

6.8M 6.3M
Aug 19, 2025

10-Q filing | 5.4M shares outstanding

5.4M 6.3M
Jul 25, 2025

S-1/A filing: This prospectus relates to the offer and resale of up to 2,500,000 shares of our common stock, par value $0.0001 per share, by Lincoln Park Capital Fund, LLC.

5.1M 6.3M
Jul 25, 2025

8-K filing: Cingulate Inc. issued a total of 143,063 shares of common stock between May 12, 2025, and July 21, 2025, through various transactions, including issuances to a service provider and lenders, as well as an option award to an officer. ($0.66M proceeds)

4.2M 6.3M
Jul 22, 2025

S-1 filing: This prospectus relates to the offer and resale of up to 2,500,000 shares of our common stock, par value $0.0001 per share, by Lincoln Park Capital Fund, LLC.

5.1M 6.3M
Jul 22, 2025

8-K filing: Cingulate Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $25.0 million of the Company's common stock and issued 120,424 shares of Common Stock to Lincoln Park as consideration for its commitment to purchase shares of Common Stock under the Purchase Agreement.

4.2M 6.3M
May 08, 2025

10-Q filing | 4.2M shares outstanding

4.2M 3.8M
Mar 27, 2025

10-K filing | 3.8M shares outstanding

3.8M 3.8M
Nov 07, 2024

10-Q filing | 3.2M shares outstanding

3.2M 3.8M
Oct 07, 2024

S-1/A filing: Cingulate Inc. is offering up to 1,500,000 shares of common stock to Lincoln Park Capital Fund, LLC under an existing purchase agreement, with the company potentially receiving up to $4,713,220.68 in proceeds.

3M 3.8M
Oct 03, 2024

S-1/A filing: This S-1/A filing describes a private placement where 7,597 shares of common stock were issued at $131.64 per share, and a note conversion agreement where $5,812,500 was converted into pre-funded warrants to purchase 28,493 shares of common stock at a conversion price of $204.00 per share.

3M 2.9M
Sep 27, 2024

S-1 filing: This prospectus relates to the offer and resale of up to 1,500,000 shares of our common stock by Lincoln Park Capital Fund, LLC.

3M 4.3M
Aug 19, 2024

S-1 filing: Cingulate Inc. is offering up to 1,000,000 shares of common stock to Lincoln Park Capital Fund, LLC, potentially generating gross proceeds of up to $10,539,047.82 for the company.

1.7M 2.8M
Aug 13, 2024

10-Q filing | 1.0M shares outstanding

950K 1.8M
Aug 09, 2024
Stock Split

8-K filing: Stock split 1-for-12 | Outstanding: 6,227,577 → 518,943

520K 1.9M
Jul 15, 2024

S-3 filing: This prospectus relates to the resale of up to 6,630,000 shares of Cingulate, Inc. common stock issuable upon the exercise of certain warrants by the Selling Stockholders.

6.2M 22M
Jul 01, 2024

8-K filing: Cingulate, Inc. entered into an inducement offer letter agreement with certain holders of its existing warrants to purchase up to an aggregate of 3,187,500 shares of Common Stock in exchange for new warrants, with the closing expected on or about July 1, 2024, and gross proceeds of approximately $1.86 million expected from the exercise of the existing warrants. ($1.86M proceeds)

6.2M 16M
May 17, 2024

S-1 filing: This S-1 filing relates to the offer and resale of up to 2,000,000 shares of common stock by Lincoln Park Capital Fund, LLC, with the company potentially receiving up to $11,395,028.72 from the sale of Purchase Shares to Lincoln Park under a purchase agreement.

6.2M 16M
May 08, 2024

10-Q filing | 6.0M shares outstanding

6M 1.1M
Apr 01, 2024

POS AM filing: This prospectus relates to the offer and sale of up to 5,973,000 shares of common stock underlying pre-funded warrants, series A common warrants, series B common warrants and placement agent warrants previously issued in a public offering that closed on February 6, 2024.

1.5M 1.1M
Apr 01, 2024

10-K filing | 5.0M shares outstanding

5M 1.1M
Feb 07, 2024

8-K filing: Cingulate Inc. closed a public offering on February 6, 2024, selling 1,375,000 shares of common stock, pre-funded warrants to purchase up to 2,375,000 shares, Series A warrants to purchase up to 3,750,000 shares, and Series B warrants to purchase up to 1,875,000 shares, with net proceeds of approximately $6.5 million to be used for research and development, commercialization, working capital, and general corporate purposes.

1.5M 1.1M
Jan 29, 2024
Stock Split

8-K filing: Cingulate Inc. completed a note conversion with Werth Family Investment Associates LLC, converting $3,287,500 into pre-funded warrants to purchase 687,043 shares of common stock at a conversion price of $4.785 per share, and a 1-for-20 reverse stock split was previously effected on November 30, 2023. ($3.29M proceeds)

1.5M 9.4M
Jan 29, 2024

S-1/A filing: The filing relates to the offering of up to 2,298,850 shares of common stock together with Series A and Series B warrants and pre-funded warrants.

1.5M 9.4M
Jan 12, 2024

S-1 filing: This is an S-1 filing for a company offering common stock, Series A warrants, Series B warrants, pre-funded warrants, and placement agent warrants.

1.5M 1.1M
Dec 06, 2023

RW filing: The Company is seeking withdrawal of the Registration Statement as it does not intend to pursue the contemplated public offering.

940K 1.1M
Nov 15, 2023

S-1 filing: Cingulate Inc. is offering shares of common stock, Series A warrants, Series B warrants, and pre-funded warrants to purchase common stock.

19M 23M
Nov 13, 2023

10-Q filing | 19.8M shares outstanding

20M 23M
Sep 11, 2023

8-K filing: Cingulate Inc. entered into a Note Conversion Agreement with Werth Family Investment Associates LLC, converting $5,812,500 of debt into pre-funded warrants to purchase 6,838,235 shares of common stock at a conversion price of $0.85 per warrant.

16M 23M
Sep 07, 2023

S-1/A filing: Cingulate Inc. is offering common stock, Series A warrants, Series B warrants and pre-funded warrants with H.C. Wainwright & Co., LLC acting as placement agent.

16M 23M
Aug 29, 2023

S-1/A filing: This S-1/A filing relates to the offering of common stock, Series A warrants, Series B warrants, pre-funded warrants, shares of common stock underlying the warrants, and placement agent warrants.

16M 31M
Aug 22, 2023

S-1/A filing: Cingulate Inc. is offering 8,063,215 shares of common stock together with Series A warrants and Series B warrants, and pre-funded warrants to certain investors, at an assumed combined public offering price of $0.6201 per share and accompanying warrants.

16M 13M
Aug 14, 2023

10-Q filing | 15.7M shares outstanding

16M 11M
Aug 14, 2023

8-K filing: Cingulate Inc. completed a private placement, issuing 1,823,155 shares of common stock at $0.5485 per share to Werth Family Investment Associates LLC for gross proceeds of approximately $1.0 million. ($1.0M proceeds)

14M 11M
Jul 25, 2023

S-1 filing: Cingulate Inc. is offering 6,493,506 shares of common stock, with an option for underwriters to purchase up to an additional 974,025 shares.

14M 11M
May 12, 2023

POS AM filing: This prospectus relates to the offer and sale of up to 4,791,665 shares of common stock underlying warrants previously issued by Cingulate, Inc.

12M 4.5M
May 10, 2023

10-Q filing | 11.3M shares outstanding

11M 4.5M
Apr 26, 2023

S-1 filing: This S-1 filing outlines an offering of common stock by a selling stockholder, Lincoln Park Capital Fund, LLC, with up to 4,131,977 shares that may be issued and sold to Lincoln Park under a Purchase Agreement, and 368,023 Commitment Shares issued to Lincoln Park as a fee.

12M 4.5M
Apr 25, 2023

8-K filing: Cingulate Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $12.0 million of the Company's common stock, and issued 368,023 shares of common stock to Lincoln Park as a commitment fee.

11M 0
Mar 30, 2023

RW filing: Cingulate Inc. is seeking withdrawal of the Registration Statement as it does not intend to pursue the contemplated public offering of the securities covered by the Registration Statement at this time.

11M 0
Mar 10, 2023

S-1 filing: Cingulate Inc. is offering 8,620,689 shares of its common stock and warrants to purchase 8,620,689 shares of common stock, at an assumed combined public offering price of $1.45 per share and accompanying warrant.

11M 17M
Mar 10, 2023

10-K filing | 11.3M shares outstanding

11M 17M
Jan 03, 2023

S-3 filing: Cingulate Inc. may offer, issue and sell from time to time together or separately, in one or more offerings, any combination of (i) our common stock, (ii) our preferred stock, which we may issue in one or more series, (iii) warrants, (iv) senior or subordinated debt securities, (v) subscription rights and (vi) units, with the aggregate public offering price of the securities not exceeding $100,000,000.

11M 0
Nov 14, 2022

10-Q filing | 11.3M shares outstanding

11M 0
Aug 11, 2022

10-Q filing | 11.3M shares outstanding

11M 0
May 12, 2022

10-Q filing | 11.3M shares outstanding

11M 0
Apr 14, 2022

POS AM filing: The filing registers the issuance of 4,791,665 shares of common stock that may be issued from time to time upon the exercise of warrants, with each warrant exercisable at $6.00 per share and expiring on December 10, 2026.

11M 0
Mar 28, 2022

10-K filing | 11.3M shares outstanding

11M 4.1M
Nov 30, 2021

S-1/A filing: This S-1/A filing outlines the terms of a unit offering consisting of common stock and warrants, an underwriter over-allotment option, and the intended use of proceeds for research and development, debt satisfaction, and general corporate purposes.

7.1M 4.1M
Nov 10, 2021

S-1/A filing: S-1/A filing for common stock offering with an over-allotment option and underwriter warrants.

11M 3.7M
Oct 12, 2021

S-1/A filing: S-1/A filing for common stock offering, with 4,444,444 shares being offered. Underwriters have an over-allotment option for 666,666 additional shares. Net proceeds are expected to be approximately $34.4 million, intended for research and development, pre-commercialization planning, and other corporate purposes.

11M 4.4M
Oct 01, 2021

S-1/A filing: The filing is an S-1/A form detailing the offering of 4,545,454 shares of common stock with an underwriter's option to purchase up to 681,818 additional shares. The company intends to use the net proceeds for research and development, pre-commercialization planning, and general corporate purposes. The company has applied for listing on the Nasdaq Capital Market under the symbol "CING".

16M 4.5M
Sep 27, 2021

S-1/A filing: S-1/A filing for common stock offering.

20M 5.2M
Sep 09, 2021

S-1 filing: S-1 filing for an initial public offering of common stock. The company intends to list its common stock on the Nasdaq Capital Market under the symbol 'CING'.

N/A 0
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