ClearSign Technologies Corp (CLIR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: June 01, 2026

Risk Assessment Details

Potential Dilution: 31.69% of current shares
Recent Dilution: 105761417.28% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
5.6M
Potential Supply
1.8M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

CLIR currently has 5.63M outstanding shares. with moderate dilution risk from 1.78M authorized shares representing 31.7% potential dilution. The company has significantly diluted shareholders by 105761417.28% 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
Jun 01, 2026

8-K filing: ClearSign Technologies Corporation entered into an underwriting agreement for a firm-commitment public offering of 777,780 shares of common stock at $4.33 per share. ($3.37M proceeds)

5.6M 1.8M
May 15, 2026

10-Q filing | 5.6M shares outstanding

5.6M 1.8M
Mar 31, 2026

10-K filing | 5.6M shares outstanding

5.6M 1.9M
Mar 16, 2026
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 55,744,062 → 5,574,406

5.6M 1.8M
Nov 14, 2025

10-Q filing | 55.7M shares outstanding

56M 18M
Aug 14, 2025

10-Q filing | 55.2M shares outstanding

55M 19M
Aug 12, 2025

S-1 filing: This prospectus relates to the issuance of up to 5,267,222 shares of our common stock available for issuance upon the exercise of 5,267,222 redeemable warrants previously issued as part of our public offering of shares of common stock and accompanying Warrants, that was completed on April 23, 2024.

52M 22M
Jul 17, 2025

S-3 filing: This is an S-3 filing for a potential offering of up to $50,000,000 in debt securities, common stock, preferred stock, warrants, subscription rights and units, with a separate ATM offering of common stock up to $10,390,000.

52M 16M
May 15, 2025

10-Q filing | 55.0M shares outstanding

55M 14M
Mar 31, 2025

10-K filing | 0.0M shares outstanding

52 69M
Nov 14, 2024

10-Q filing | 38.7M shares outstanding

39M 30M
Aug 14, 2024

10-Q filing | 38.7M shares outstanding

39M 30M
Jul 03, 2024

S-1/A filing: This prospectus relates to the resale, from time to time, by the selling stockholders identified in this prospectus under the section heading "Selling Stockholders," of up to (a) 5,599,763 shares of our common stock (the "Private Shares"), (b) up to 4,498,642 shares of common stock (the "Pre-Funded Warrant Shares") issuable upon the exercise of pre-funded warrants (the "Pre-Funded Warrants"), (c) 15,147,606 shares of common stock (the "Private Warrant Shares," and together with the Pre-Funded Warrant Shares, the "Warrant Shares") issuable upon the exercise of redeemable warrants (the "Private Warrants," and together with the Pre-Funded Warrants, the "Warrants"), and (d) 15,147,606 Private Warrants issued in connection with both the Private Placement and exercise of the Participation Right.

50M 19M
Jun 26, 2024

8-K filing: ClearSign Technologies Corporation issued 3,350,000 shares of common stock, pre-funded warrants to purchase up to 1,343,000 shares of common stock, and private warrants to purchase up to 7,039,500 shares of common stock to clirSPV LLC for aggregate gross proceeds of approximately $4.3 million. ($12.9M proceeds)

47M 980K
Jun 20, 2024

8-K filing: SPV exercised its participation right to purchase 3,907,000 shares of common stock, pre-funded warrants to purchase up to 786,000 shares of common stock and redeemable warrants to purchase up to 7,039,500 shares of common stock in connection with the company's recently consummated underwritten public offering and concurrent private placement.

47M 980K
May 20, 2024

S-1 filing: This S-1 filing registers the resale of common stock issuable upon exercise of pre-funded warrants and private warrants, along with shares of common stock offered by the selling stockholder.

47M 980K
May 15, 2024

10-Q filing | 38.8M shares outstanding

39M 0
May 10, 2024

8-K filing: ClearSign Technologies Corporation's underwriter exercised its over-allotment option to purchase 693,114 shares of common stock and accompanying common warrants at $0.92 per set, expected to close around May 15, 2024, and the company agreed to issue warrants to the underwriter to purchase 55,449 shares of common stock. ($0.64M proceeds)

39M 0
Apr 24, 2024

8-K filing: The Company closed its underwritten public offering and concurrent private placement, issuing shares of common stock and warrants, resulting in gross proceeds of approximately $9.3 million.

39M 0
Apr 23, 2024

8-K filing: ClearSign Technologies Corporation entered into an amendment to a securities purchase agreement for a private placement involving the issuance of common stock, pre-funded warrants, and redeemable warrants, expected to close on April 23, 2024. ($5.0M proceeds)

39M 0
Apr 19, 2024

8-K filing: ClearSign Technologies Corporation executed an underwritten public offering of 4,620,760 shares of common stock and redeemable warrants to purchase 4,620,760 shares, along with a concurrent private offering of 5,405,405 shares of common stock and redeemable warrants to purchase 8,108,108 shares, both expected to close on April 23, 2024. ($9.25M proceeds)

39M 0
Apr 01, 2024

10-K filing | 38.5M shares outstanding

39M 0
Nov 14, 2023

10-Q filing | 38.6M shares outstanding

39M 0
Aug 14, 2023

10-Q filing | 38.5M shares outstanding

39M 0
Aug 11, 2023

S-3 filing: This prospectus relates to the offer and sale from time to time by the selling stockholder named in this prospectus of up to 2,246,019 shares of common stock, par value $0.0001 per share, of ClearSign Technologies Corporation.

39M 0
May 15, 2023

10-Q filing | 38.3M shares outstanding

38M 0
Mar 31, 2023

10-K filing | 35.3M shares outstanding

35M 0
Nov 14, 2022

10-Q filing | 37.9M shares outstanding

38M 0
Aug 15, 2022

10-Q filing | 33.5M shares outstanding

34M 0
Jul 29, 2022

S-3/A filing: The filing is an S-3/A amendment to register the offering of debt securities, common stock, preferred stock, warrants, units, or subscription rights up to $50,000,000 and provides an update on an At-the-Market Sales Agreement.

32M 0
Jul 01, 2022

S-3 filing: This S-3 filing indicates the company may offer and sell up to $50,000,000 in various securities, including debt, common stock, preferred stock, warrants, units, or subscription rights, and they have an at-the-market sales agreement with Virtu Americas LLC to sell common stock up to $8.8 million.

32M 0
Jun 01, 2022

8-K filing: ClearSign Technologies Corporation closed its underwritten public offering of 4,186,000 shares of common stock at a price of $1.11 per share on June 1, 2022. ($4.65M proceeds)

32M 0
May 31, 2022

8-K filing: ClearSign Technologies Corporation completed a public offering of 3,640,000 shares of common stock at $1.11 per share, with the underwriter exercising an over-allotment option for an additional 546,000 shares, expecting net proceeds of approximately $4.2 million.

32M 0
May 16, 2022

10-Q filing | 31.8M shares outstanding

32M 0
Mar 31, 2022

10-K filing | 31.6M shares outstanding

32M 0
Nov 12, 2021

10-Q filing | 31.5M shares outstanding

31M 0
Aug 20, 2021

10-Q filing | 31.5M shares outstanding

31M 0
May 17, 2021

10-Q filing | 31.3M shares outstanding

31M 0
Mar 31, 2021

10-K filing | 30.9M shares outstanding

31M 0
Nov 13, 2020

10-Q filing | 30.0M shares outstanding

30M 0
Aug 21, 2020

8-K filing: ClearSign Technologies Corporation entered into an underwriting agreement with National Securities Corporation for the issuance and sale of 2,250,000 shares of common stock at $2.00 per share, with the underwriter exercising its option to purchase an additional 337,500 shares to cover over-allotments.

27M 0
Aug 14, 2020

10-Q filing | 26.7M shares outstanding

27M 0
May 14, 2020

10-Q filing | 26.7M shares outstanding

27M 0
Mar 30, 2020

10-K filing | 26.7M shares outstanding

27M 0
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