EON Resources Inc. (EONR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: November 17, 2025

Risk Assessment Details

Potential Dilution: 841.63% of current shares
Recent Dilution: 343.0% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
55M
Potential Supply
460M
Additional shares possible
Splits
None
Past 2 years

Summary

EONR currently has 55M outstanding shares. with significant dilution risk as 463M authorized shares could dilute existing holders by 841.6%. The company has significantly diluted shareholders by 343.0% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Nov 17, 2025

10-Q filing | 55.0M shares outstanding

55M 460M
Sep 12, 2025

8-K filing: EON Resources Inc. issued 1,500,000 shares of Class A Common Stock to Pogo Royalty in exchange for the assignment and transfer of 1,500,000 preferred units of OpCo.

37M 480M
Aug 14, 2025

10-Q filing | 37.3M shares outstanding

37M 480M
Aug 01, 2025

S-1 filing: This S-1 filing relates to the offering of up to 17,498,800 shares of Class A Common Stock by selling securityholders and up to 10,000,000 shares of Class A Common Stock that EON Resources Inc. may sell to White Lion from time to time.

36M 480M
Jul 02, 2025

POS AM filing: This prospectus relates to the offering of up to 11,405,267 shares of Class A Common Stock, including shares issuable upon exercise of public warrants, shares offered by selling securityholders, and shares that may be sold to White Lion Capital, LLC.

33M 0
Jun 23, 2025

8-K filing: EON Resources Inc. issued 1,000,000 shares of Class A Common Stock to WPP NM, L.L.C. and Northwest Central, L.L.C. for the acquisition of assets and issued 1,000,000 shares of Class A Common Stock to Corsair Well Services, LLC for workover services. ($2.0M proceeds)

20M 0
Jun 17, 2025

8-K filing: EON Resources Inc. issued 1,500,000 shares of Class A Common Stock to Pogo Royalty in exchange for the assignment and transfer of OpCo Preferred Units, pursuant to Amendment No. 3 to the PSTE Agreement.

20M 0
Jun 12, 2025

POS AM filing: This prospectus relates to the offering of up to 11,405,267 shares of Class A Common Stock.

20M 0
May 23, 2025

S-1/A filing: This prospectus relates to the offering from time to time by the selling securityholders of up to an aggregate of 7,818,600 shares of our Class A Common Stock.

20M 570K
May 15, 2025

10-Q filing | 19.8M shares outstanding

20M 310K
May 09, 2025

S-1 filing: This prospectus relates to the offering from time to time by the selling securityholders of up to an aggregate of 7,818,600 shares of Class A Common Stock.

19M 1.3M
May 09, 2025

8-K filing: EON Resources Inc. exchanged Old Notes and Old Warrants for Convertible Notes with 11 investors, issuing $6,850,000 in Convertible Notes for $2,900,000 of Old Notes and 3,950,000 Old Warrants.

18M 1.8M
Apr 16, 2025

10-K filing | 18.3M shares outstanding

18M 0
Feb 13, 2025

8-K filing: EON Resources Inc. entered into a Purchase, Sale, Termination and Exchange Agreement where it will issue 3,000,000 shares of Class A Common Stock in exchange for OpCo Preferred Units.

9.3M 3M
Feb 07, 2025

8-K filing: EON Resources Inc. issued convertible promissory notes in the aggregate principal amount of $1,566,500 in exchange for old notes in the aggregate principal amount of $582,500 and 984,000 old warrants to 11 Exchange Investors on February 3, 2025.

9.3M 3M
Jan 24, 2025

S-1 filing: This prospectus relates to the offering from time to time by the selling securityholders of up to an aggregate of 5,079,050 shares of Class A Common Stock.

13M 0
Jan 24, 2025

8-K filing: EON Resources Inc. issued Convertible Notes in the aggregate principal amount of $1,350,000 in exchange for Old Notes in the aggregate principal amount of $400,000 and 950,000 Old Warrants to seven Exchange Investors.

9.3M 3M
Nov 15, 2024

10-Q filing | 9.3M shares outstanding

9.3M 28M
Nov 01, 2024

S-1/A filing: EON Resources Inc. files an S-1/A registration statement relating to the offering for resale of up to an aggregate 1,847,963 shares of the Company's Class A Common Stock.

9.1M 28M
Oct 24, 2024

S-1 filing: This prospectus relates to the offering from time to time by the selling securityholders of up to an aggregate of 1,847,963 shares of Class A Common Stock.

9.1M 29M
Oct 21, 2024

8-K filing: EON Resources Inc. issued shares of Class A Common Stock to Diego Rojas, Rhône Merchant House, Ltd., Mike Porter, Dante Caravaggio, LLC, Mark Williams, Robert Barba and Porter, Levay & Rose, Inc. for services, settlement and forgiveness of accounts payable; additionally, the Company issued to Pryor Cashman LLP a warrant to purchase up to a total of 1,200,000 shares of Class A Common Stock. ($0.26M proceeds)

5.3M 30M
Aug 19, 2024

10-Q filing | 5.3M shares outstanding

5.3M 30M
Aug 05, 2024

S-1/A filing: This S-1/A filing includes the offering of up to 22,391,813 shares of Class A Common Stock, including primary and resale offerings. It also registers shares issuable upon exercise of warrants and shares that may be sold to White Lion.

5.5M 30M
Jul 25, 2024

S-1/A filing: This S-1/A filing registers for resale 15,923,063 shares of Class A Common Stock and up to 6,468,750 shares of Class A Common Stock that are issuable upon exercise of the Public Warrants.

5.5M 21M
Jul 01, 2024

S-1/A filing: This S-1/A filing registers for resale up to 22,316,813 shares of Class A Common Stock, including shares issuable upon exercise of warrants, shares held by selling securityholders, and shares that may be sold to White Lion under a Common Stock Purchase Agreement.

5.5M 24M
May 20, 2024

10-Q filing | 5.2M shares outstanding

5.2M 35M
May 13, 2024

S-1/A filing: This prospectus relates to the resale by the non-affiliate Selling Securityholders identified in this prospectus of up to 18,445,821 of Class A Common Stock and the issuance of up to 14,619,508 shares of Class A Common Stock by the company.

5.5M 35M
May 03, 2024

10-K filing | 5.2M shares outstanding

5.2M 33M
Mar 07, 2024

8-K filing: HNR Acquisition Corp entered into an Amendment No. 1 to Common Stock Purchase Agreement with White Lion Capital, LLC, for the issuance of 440,000 Commitment Shares and extending the purchase agreement until December 31, 2026.

5.2M 33M
Jan 09, 2024

S-1/A filing: This prospectus relates to the resale by the non-affiliate Selling Securityholders identified in this prospectus of up to 17,082,435 shares of Class A Common Stock.

5.2M 33M
Nov 21, 2023

8-K filing: HNRA issued 451,563 shares of common stock in exchange for the surrender and termination of promissory notes with an aggregate principal amount of $2,257,771, and issued 89,000 shares of Class A Common Stock to Alexandria VMA Capital, LLC in connection with the closing of the Business Combination. ($2.26M proceeds)

7.5M 0
Nov 13, 2023

10-Q filing | 7.5M shares outstanding

7.5M 0
Nov 13, 2023

8-K filing: HNR Acquisition Corp. entered into a Non-Redemption Agreement and Exchange Agreements involving the issuance of common stock. ($2.1M proceeds)

7.5M 0
Nov 07, 2023

S-1 filing: This S-1 filing describes a business combination between HNR Acquisition Corp and Pogo Resources, LLC, involving cash consideration, Class B common units of OpCo, and Seller Class B Shares, as well as a debt commitment letter for a senior secured term loan.

7.5M 0
Nov 03, 2023

8-K filing: HNR Acquisition Corp entered into a Forward Purchase Agreement and a FPA Funding Amount PIPE Subscription Agreement with Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC for the potential purchase of up to 3,000,000 shares of common stock.

7.5M 0
Aug 30, 2023

8-K filing: HNR Acquisition Corp entered into an Amended and Restated Membership Interest Purchase Agreement (A&R MIPA) to acquire Target Interests in exchange for cash, Class B common units of OpCo, and Seller Class B Shares, organizing the post-purchase company in an "Up-C" structure. ($20.0M proceeds)

7.5M 0
Aug 18, 2023

10-Q filing | 7.5M shares outstanding

7.5M 0
May 22, 2023

10-Q filing | 7.5M shares outstanding

7.5M 0
May 16, 2023

8-K filing: HNR Acquisition Corp held a special meeting of stockholders where they approved an amendment to extend the date by which the company must consummate its initial business combination from May 15, 2023, by up to six one-month extensions to November 15, 2023. Stockholders holding 4,115,597 shares exercised their right to redeem such shares for a pro rata portion of the funds in the Company's Trust Account, resulting in approximately $43 million being removed from the trust account. ($43.0M proceeds)

12M 0
Mar 31, 2023

10-K filing | 11.6M shares outstanding

12M 0
Jan 03, 2023

8-K filing: HNR Acquisition Corp entered into a membership interest purchase agreement to acquire Pogo Resources, LLC, involving cash and 2,000,000 shares of HNR's common stock. ($20.0M proceeds)

12M 0
Nov 14, 2022

10-Q filing | 11.6M shares outstanding

12M 0
Aug 15, 2022

10-Q filing | 11.6M shares outstanding

12M 0
May 17, 2022

10-Q filing | 11.6M shares outstanding

12M 0
Apr 15, 2022

10-K filing | 11.6M shares outstanding

12M 0
Feb 22, 2022

8-K filing: HNR Acquisition Corp consummated its initial public offering of 8,625,000 public units at $10.00 per unit, generating gross proceeds of $86,250,000, and simultaneously consummated a private placement of 505,000 private units at $10.00 per unit, generating gross proceeds of $5,050,000. ($91.3M proceeds)

2.5M 0
Feb 16, 2022

8-K filing: HNR Acquisition Corp consummated its initial public offering of 8,625,000 public units at $10.00 per unit, generating gross proceeds of $86,250,000, and simultaneously consummated a private placement of 505,000 private units at $10.00 per unit, generating gross proceeds of $5,050,000. ($182.6M proceeds)

2.5M 0
Feb 07, 2022

S-1/A filing: HNR Acquisition Corp is offering 7,500,000 units at $10.00 per unit, each unit consisting of one share of common stock and one redeemable warrant. The company is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.

2.5M 7.5M
Dec 28, 2021

S-1/A filing: This S-1/A filing registers shares of common stock included as part of units, rights included as part of the units, shares of common stock underlying the rights included in the units, and redeemable warrants included as part of the units.

2.9M 10M
Jan 29, 2021

S-1 filing: This S-1 filing registers an offering of 10,000,000 units at $10.00 per unit, with each unit containing one share of common stock, one right to receive one-tenth of a share upon an initial business combination, and one warrant to purchase one-half of a share of common stock. It also details the terms of founder shares, private placement units, and the use of proceeds in a trust account for a future business combination.

2.9M 10M
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