DeFi Development Corp. (DFDV) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 19, 2026

Risk Assessment Details

Potential Dilution: 305.32% of current shares
Recent Dilution: 760.82% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
30M
Potential Supply
92M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

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

Outstanding Shares
Total Supply

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
Weekly Research

Get Weekly Super Stonk Alerts

Never miss a squeeze opportunity. Get our weekly analysis of high short interest stocks, AI-discovered gems, and dilution warnings delivered to your inbox.

No spam Unsubscribe anytime