FUELCELL ENERGY INC (FCEL) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
FCEL currently has 48.2M outstanding shares. with limited dilution risk as only 8.9M additional shares (18.5%) are authorized for issuance. The company has significantly diluted shareholders by 116.72% 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 |
|---|---|---|---|
| Mar 09, 2026 |
10-Q filing | 48.2M shares outstanding |
48M | 8.9M |
| Dec 18, 2025 |
10-K filing | 46.1M shares outstanding |
46M | 11M |
| Sep 09, 2025 |
10-Q filing | 32.3M shares outstanding |
32M | 25M |
| Jun 06, 2025 |
10-Q filing | 21.7M shares outstanding |
22M | 35M |
| Apr 29, 2025 |
S-3 filing: FuelCell Energy, Inc. files an S-3 registration statement to offer and sell up to $200 million in the aggregate of common stock, preferred stock, debt securities, warrants, and units from time to time. |
21M | 37M |
| Mar 11, 2025 |
10-Q filing | 20.5M shares outstanding |
21M | 0 |
| Mar 05, 2025 |
POS AM filing: FuelCell Energy, Inc. may offer and sell from time to time up to $405,000,000 in the aggregate of shares of our common stock and warrants, as well as units that include any combination of the foregoing securities. |
21M | 0 |
| Dec 27, 2024 |
POS AM filing: FuelCell Energy, Inc. may offer and sell from time to time up to $405,000,000 in the aggregate of shares of our common stock and warrants, as well as units that include any combination of the foregoing securities. |
20M | 0 |
| Dec 27, 2024 |
10-K filing | 20.4M shares outstanding |
20M | 0 |
| Nov 08, 2024 |
Stock Split
8-K filing: Stock split 1-for-30 | Outstanding: 503,183,725 → 20,375,955 |
20M | 0 |
| Sep 05, 2024 |
10-Q filing | 503.2M shares outstanding |
500M | 0 |
| Jun 10, 2024 |
10-Q filing | 453.0M shares outstanding |
450M | 0 |
| Mar 07, 2024 |
10-Q filing | 451.6M shares outstanding |
450M | 0 |
| Dec 19, 2023 |
10-K filing | 419.7M shares outstanding |
420M | 0 |
| Sep 11, 2023 |
10-Q filing | 415.9M shares outstanding |
420M | 0 |
| Jun 08, 2023 |
10-Q filing | 406.3M shares outstanding |
410M | 0 |
| Mar 09, 2023 |
10-Q filing | 405.8M shares outstanding |
410M | 0 |
| Dec 20, 2022 |
10-K filing | 383.1M shares outstanding |
380M | 0 |
| Sep 08, 2022 |
10-Q filing | 375.6M shares outstanding |
380M | 0 |
| Jul 12, 2022 |
8-K filing: FuelCell Energy, Inc. entered into an Open Market Sale AgreementSM with several agents, allowing the company to offer and sell up to 95,000,000 shares of its common stock through an at-the-market offering program. |
370M | 0 |
| Jun 09, 2022 |
10-Q filing | 369.6M shares outstanding |
370M | 0 |
| May 20, 2022 |
8-K filing: FuelCell Energy, Inc. granted performance shares and time-vesting restricted stock units to Mark Feasel under the Long Term Incentive Plan on May 16, 2022, consisting of 19,566 relative TSR performance shares and 19,565 time-based restricted stock units. |
370M | 0 |
| Mar 10, 2022 |
10-Q filing | 366.7M shares outstanding |
370M | 0 |
| Dec 29, 2021 |
10-K filing | 294.7M shares outstanding |
290M | 0 |
| Sep 14, 2021 |
10-Q filing | 337.3M shares outstanding |
340M | 0 |
| Jun 10, 2021 |
10-Q filing | 322.5M shares outstanding |
320M | 0 |
| Apr 08, 2021 |
8-K filing: The company filed a Certificate of Amendment to increase the number of authorized shares of common stock from 337,500,000 to 500,000,000. Additionally, stockholders approved the amendment and restatement of the FuelCell Energy, Inc. 2018 Omnibus Incentive Plan, including the authority to issue 8,000,000 additional shares of the Company's common stock under such amended and restated Plan. |
310M | 0 |
| Mar 16, 2021 |
10-Q filing | 312.1M shares outstanding |
310M | 0 |
| Feb 10, 2021 |
8-K filing: FuelCell Energy, Inc. filed a prospectus supplement relating to the offer and sale of up to 964,128 shares of its common stock issuable from time to time upon the exercise of Series C warrants. |
320M | 0 |
| Jan 21, 2021 |
10-K filing | 322.4M shares outstanding |
320M | 0 |
| Dec 09, 2020 |
8-K filing: On December 7, 2020, Lenders exercised warrants to purchase 2,700,000 shares of the Company's common stock for an aggregate exercise price of $653,400, or $0.242 per share, and following this warrant exercise, the Lenders no longer hold any warrants to purchase shares of the Company's common stock. ($0.65M proceeds) |
320M | 0 |
| Dec 04, 2020 |
8-K filing: FuelCell Energy, Inc. completed an underwritten offering of 25,000,000 shares of its common stock at a price of $6.50 per share, resulting in gross proceeds of approximately $162.5 million to the Company. ($162.5M proceeds) |
320M | 0 |
| Oct 08, 2020 |
8-K filing: Orion Lenders exercised warrants to purchase 5,300,000 shares of FuelCell Energy, Inc.'s common stock for $1,282,600, resulting in 294,699,041 shares outstanding. ($1.28M proceeds) |
290M | 0 |
| Oct 02, 2020 |
8-K filing: FuelCell Energy, Inc. closed an offering of 50,025,000 shares of common stock at a price of $2.10 per share, resulting in gross proceeds of approximately $105.05 million and 289,399,041 shares of Common Stock outstanding after the closing. ($0.0M proceeds) |
290M | 0 |
| Sep 10, 2020 |
10-Q filing | 218.0M shares outstanding |
220M | 10M |
| Jun 29, 2020 |
S-3 filing: This is an S-3 filing for the offer and sale of up to 17,396,320 shares of common stock by selling stockholders, including shares issuable upon exercise of warrants. |
210M | 17M |
| Jun 12, 2020 |
10-Q filing | 211.0M shares outstanding |
210M | 0 |
| May 12, 2020 |
8-K filing: The company increased the number of authorized shares of common stock from 225,000,000 to 337,500,000 and approved the amendment and restatement of the FuelCell Energy, Inc. 2018 Omnibus Incentive Plan, including the authority to issue 4,000,000 additional shares of the Company's common stock under such amended and restated Plan. |
200M | 0 |
| Mar 16, 2020 |
10-Q filing | 202.2M shares outstanding |
200M | 0 |
| Jan 22, 2020 |
10-K filing | 211.0M shares outstanding |
210M | 0 |