GDEV Inc. (GDEV) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: March 31, 2026

Risk Assessment Details

Potential Dilution: 1347.2% of current shares
Recent Dilution: 0.22% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
18M
Potential Supply
240M
Additional shares possible
Splits
None
Past 2 years

Summary

GDEV currently has 18.2M outstanding shares. with significant dilution risk as 245M authorized shares could dilute existing holders by 1347.2%. The company has minimally diluted shareholders by 0.22% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Mar 31, 2026

20-F filing | 18.2M shares outstanding

18M 240M
Mar 31, 2025

20-F filing | 18.1M shares outstanding

18M 240M
Sep 12, 2024

F-3 filing: The filing is an F-3 type and relates to an at-the-market offering of up to 1,757,026 ordinary shares through Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc.

20M 240M
Jun 28, 2024

F-3 filing: This F-3 filing outlines the terms for offering ordinary shares and warrants by selling securityholders, as well as ordinary shares issuable upon exercise of public warrants.

180M 240M
Apr 29, 2024

20-F filing | 197.6M shares outstanding

200M 0
Sep 29, 2023

POS AM filing: This POS AM filing relates to ordinary shares issuable upon exercise of public warrants.

200M 0
Sep 29, 2023

POS AM filing: This POS AM filing relates to the resale of up to 175,413,828 ordinary shares by selling securityholders. The company will not receive any proceeds from these sales. The filing also mentions that there are 197,389,502 ordinary shares issued and outstanding.

200M 0
Sep 29, 2023

POS AM filing: This POS AM filing relates to the resale of ordinary shares and warrants by selling securityholders, as well as the offering of warrants with an exercise price of $11.50 per share, expiring on August 26, 2026.

200M 0
Jul 31, 2023

F-1 filing: This F-1 filing pertains to the resale of up to 175,413,828 ordinary shares by Selling Securityholders. The company will not receive any proceeds from these sales. The ordinary shares are listed on the Nasdaq under the symbol 'GDEV'.

200M 190M
Jul 31, 2023

F-1 filing: This F-1 filing relates to ordinary shares issuable upon exercise of public warrants and the principal terms of the warrants, including the exercise price, expiration date, and potential redemption scenarios.

200M 190M
Jun 26, 2023

POS AM filing: This POS AM filing includes the resale of ordinary shares and warrants by Selling Securityholders.

200M 0
Jun 26, 2023

20-F filing | 197.1M shares outstanding

200M 0
Oct 18, 2022

POS AM filing: This is a POS AM filing with information on Bookings, factors affecting the business, Russian geopolitical and economic risks, and summary terms of the offering including resale of ordinary shares and warrants.

200M 0
Sep 01, 2022

POS AM filing: This POS AM filing includes the resale of ordinary shares and warrants by selling securityholders.

200M 0
Jul 12, 2022

POS AM filing: This is a POS AM filing that describes the principal terms of the offering, including the resale of ordinary shares and warrants by selling securityholders. The company will not receive any of the proceeds from these sales, but may receive proceeds from the exercise of warrants.

200M 0
Apr 29, 2022

POS AM filing: This POS AM filing relates to the resale of ordinary shares and warrants by selling securityholders, with the company potentially receiving proceeds from the exercise of warrants.

200M 0
Apr 29, 2022

20-F filing | 196.5M shares outstanding

200M 0
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