DeFi Development Corp. (DFDV) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
DFDV currently has 30.1M outstanding shares. with significant dilution risk as 92M authorized shares could dilute existing holders by 305.3%. The company has significantly diluted shareholders by 760.82% 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
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 19, 2026 |
10-Q filing | 30.1M shares outstanding |
30M | 92M |
| Mar 30, 2026 |
10-K filing | 29.5M shares outstanding |
29M | 92M |
| Dec 18, 2025 |
S-1 filing: DeFi Development Corp. is offering Variable Rate Series C Perpetual Preferred Stock. |
28M | 92M |
| Dec 16, 2025 |
RW filing: This is a request to withdraw Registration Statement No. 333-290297 for an IPO of Series C Cumulative Perpetual Preferred Stock, which became effective on November 2, 2025, but never occurred. |
30M | 92M |
| Oct 28, 2025 |
S-1 filing: This SEC filing relates to DeFi Development Corp.'s S-1 registration statement, detailing various expenses, indemnification policies, recent sales of unregistered securities including PIPE transactions, asset purchase agreements, equity line agreements, convertible notes offerings, and a warrant distribution to stockholders, noteholders, and pre-funded warrant holders. |
30M | 92M |
| Oct 14, 2025 |
S-1/A filing: This S-1/A filing covers the offer and potential resale of common stock and shares issuable upon the exercise of pre-funded warrants by selling stockholders. |
28M | 74M |
| Oct 14, 2025 |
S-1/A filing: This S-1/A filing from DeFi Development Corp. announces an offering of $65,000,000 of 10.00% Series C Cumulative Perpetual Preferred Stock. |
28M | 74M |
| Sep 16, 2025 |
S-1 filing: This is an S-1 filing for DeFi Development Corp. regarding an offering of Series C Cumulative Perpetual Preferred Stock. |
26M | 74M |
| Sep 09, 2025 |
S-1 filing: This S-1 filing covers the offer and potential resale of common stock by selling stockholders, including shares of common stock and shares issuable upon the exercise of pre-funded warrants. |
26M | 74M |
| Aug 28, 2025 |
8-K filing: DeFi Development Corp. closed a private placement offering, selling 4,171,907 shares of common stock at $12.50 per share and pre-funded warrants to acquire up to 5,781,636 shares of common stock at an exercise price of $0.0001 per share, with a purchase price of $12.4999 per share for one Pre-Funded Warrant. Total shares outstanding after the offering close was 25,373,702. |
25M | 64M |
| Jul 07, 2025 |
8-K filing: DeFi Development Corp. completed a private offering of 5.50% Convertible Senior Notes due 2030, with an aggregate principal amount of $112.5 million, and entered into a prepaid forward stock purchase transaction involving approximately 3.6 million shares of common stock for $75.6 million. ($75.6M proceeds) |
15M | 64M |
| Jun 23, 2025 |
S-1/A filing: This prospectus covers the offer and potential resale by certain selling stockholders of shares of common stock issuable upon the conversion of convertible notes and the exercise of warrants. |
15M | 64M |
| Jun 20, 2025 |
S-1/A filing: This S-1/A filing relates to the resale of up to 39,350,952 shares of common stock by RK Capital Management LLC pursuant to an equity line of credit agreement, with the company potentially receiving up to $5 billion in gross proceeds. The company intends to use the net proceeds obtained under the ELOC Agreement primarily for general corporate purposes, including the acquisition of Solana. |
15M | 64M |
| Jun 16, 2025 |
S-1 filing: This S-1 filing relates to the potential offer and sale from time to time by RK Capital Management LLC of up to 39,350,952 shares of common stock of DeFi Development Corp pursuant to an equity line of credit agreement, with the company potentially receiving up to $1 billion (or $5 billion under certain conditions) in gross proceeds. |
15M | 25M |
| Jun 11, 2025 |
S-1 filing: This S-1 filing registers up to 12,375,896 shares of common stock offered by selling stockholders, including shares issuable upon conversion of convertible notes, exercise of warrants, and pre-funded warrants. |
15M | 25M |
| May 21, 2025 |
S-3/A filing: DeFi Development Corp. files an S-3/A to offer common stock, preferred stock, debt securities, rights to purchase common stock, preferred stock, debt securities or units, with an aggregate offering price of up to $1,000,000,000. Also covers the offering and potential resale by selling stockholders of up to 12,375,896 shares of common stock. |
2.1M | 13M |
| May 14, 2025 |
10-Q filing | 2.1M shares outstanding |
2.1M | 1.6M |
| May 05, 2025 |
8-K filing: DeFi Development Corp. acquired a validator and nodes for $500,000 in cash and 86,412 shares of restricted common stock valued at $3,000,000, issued to Solsync Solutions Partnership. ($3.0M proceeds) |
1.4M | 1.6M |
| May 05, 2025 |
8-K filing: Janover Inc. completed a private placement, issuing 315,838 shares of common stock and pre-funded warrants to purchase up to 207,654 shares for gross proceeds of approximately $24 million. ($24.07M proceeds) |
1.4M | 1.6M |
| Apr 25, 2025 |
S-3 filing: DeFi Development Corp., f/k/a Janover Inc., files an S-3 to offer common stock, preferred stock, debt securities, warrants, units and rights with an aggregate offering price of up to $1,000,000,000, and also covers the offering and potential resale by selling stockholders of up to 1,244,471 shares of common stock. |
1.4M | 1.6M |
| Mar 27, 2025 |
10-K filing | 1.4M shares outstanding |
1.4M | 380K |
| Dec 30, 2024 |
Stock Split
8-K filing: Stock split 1-for-8 | Outstanding: 11,205,011 → 1,414,206 |
1.4M | 380K |
| Nov 07, 2024 |
10-Q filing | 11.2M shares outstanding |
11M | 3.1M |
| Aug 27, 2024 |
S-3/A filing: Janover Inc. files an S-3/A to offer and sell shares of preferred stock, common stock, debt securities or warrants up to an aggregate initial offering price of $50,000,000. |
11M | 3.1M |
| Aug 13, 2024 |
10-Q filing | 11.1M shares outstanding |
11M | 3.1M |
| Aug 01, 2024 |
S-3 filing: Janover Inc. files an S-3 registration statement to offer preferred stock, common stock, debt securities or warrants up to an aggregate initial offering price of $50,000,000. |
11M | 3.1M |
| May 14, 2024 |
10-Q filing | 11.1M shares outstanding |
11M | 1.3M |
| Mar 28, 2024 |
10-K filing | 11.1M shares outstanding |
11M | 1.3M |
| Jan 11, 2024 |
8-K filing: Janover Inc. granted 10,000 non-qualified stock options to a consultant, which will vest on the one-year anniversary of the vesting commencement date. |
9.2M | 1.3M |
| Nov 22, 2023 |
8-K filing: Janover Inc. acquired substantially all of the assets of Groundbreaker Technologies Inc. for $60,000 in cash and 1,051,355 shares of Janover Inc.'s common stock, with potential earnout payments of up to $4,000,000 in cash and/or shares. ($0.91M proceeds) |
9.2M | 1.3M |
| Nov 14, 2023 |
10-Q filing | 9.2M shares outstanding |
9.2M | 1.3M |
| Sep 01, 2023 |
10-Q filing | 10.0M shares outstanding |
10M | 1.3M |
| Jul 28, 2023 |
8-K filing: Janover Inc. completed an initial public offering of 1,412,500 shares of common stock at $4.00 per share on July 27, 2023, with aggregate gross proceeds of $5.65 million, and also registered 1,619,590 shares for resale by selling stockholders. ($5.65M proceeds) |
7.1M | 1.3M |
| Jul 14, 2023 |
S-1/A filing: This S-1/A filing relates to the offering of 1,250,000 shares of common stock at an assumed price of $4.00 per share, with an over-allotment option for underwriters to purchase up to 187,500 additional shares, and also includes warrants for the representatives of the underwriters. |
7.1M | 1.3M |
| Jul 12, 2023 |
S-1/A filing: This S-1/A filing describes a proposed underwritten offering of common stock along with an over-allotment option and warrants for the underwriters. |
7.1M | 2.9M |
| Jul 07, 2023 |
S-1/A filing: S-1/A filing relating to the offering of 1,682,974 shares of common stock by selling stockholders and a primary offering of 1,250,000 shares of common stock at $4.00 per share with an underwriter over-allotment option. |
7.1M | 2.9M |
| Jun 29, 2023 |
S-1/A filing: This S-1/A filing relates to the offering of 1,682,974 shares of common stock by selling stockholders and also includes a primary offering of 1,250,000 shares of common stock at $4.00 per share, with an over-allotment option for underwriters to purchase up to 187,500 additional shares. It also mentions Representatives' Warrants equal to 5% of the aggregate number of shares sold in this offering. |
7.1M | 3.1M |
| Jun 12, 2023 |
S-1/A filing: This S-1/A filing relates to the offering of 1,682,974 shares of common stock by selling stockholders and an offering of 1,250,000 shares of common stock at $4.00 per share. |
7.1M | 2.9M |
| Apr 17, 2023 |
S-1/A filing: This S-1/A filing relates to the offering of shares of common stock by selling stockholders and the company. It includes details on the offering price, potential Nasdaq listing, and use of proceeds. |
7.1M | 3.2M |
| Nov 15, 2022 |
S-1/A filing: This S-1/A filing relates to the offering of common stock by Janover, Inc., including shares offered by selling shareholders and shares offered in connection with an underwritten offering, as well as warrants to the underwriters. |
7.1M | 3.5M |
| Oct 14, 2022 |
S-1 filing: This is an initial public offering of 2,740,554 shares of common stock of Janover Inc. |
7.1M | 2.7M |