GRI Bio, Inc. (GRI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 13, 2026

Risk Assessment Details

Potential Dilution: 2.59% of current shares
Recent Dilution: 3357.22% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
1.8M
Potential Supply
46K
Additional shares possible
Splits
3 Splits 3 Reverse
Past 2 years

Summary

GRI currently has 1.77M outstanding shares. with limited dilution risk as only 45.8K additional shares (2.6%) are authorized for issuance. The company has significantly diluted shareholders by 3357.22% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 3 stock splits (positive for accessibility) and 3 reverse splits (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 13, 2026

10-Q filing | 1.8M shares outstanding

1.8M 46K
Jan 30, 2026

10-K filing | 1.4M shares outstanding

1.4M 46K
Jan 23, 2026
Stock Split

8-K filing: Stock split 1-for-28 | Outstanding: 2,515,305 → 89,832

90K 46K
Jan 15, 2026

8-K filing: The Company completed a public offering of common stock and warrants for gross proceeds of approximately $8.0 million. ($24.0M proceeds)

2.5M 1.3M
Dec 12, 2025

8-K filing: GRI Bio, Inc. commenced a public offering of common stock, pre-funded warrants, and Series F warrants, with the offering anticipated to close on or about December 12, 2025.

2.5M 1.3M
Aug 14, 2025

10-Q filing | 2.5M shares outstanding

2.5M 1.3M
May 15, 2025

10-Q filing | 2.1M shares outstanding

2.1M 1.3M
Apr 02, 2025

8-K filing: GRI Bio, Inc. commenced a public offering of 202,000 shares of common stock, 1,186,888 pre-funded warrants, 1,388,888 Series E-1 warrants, 1,388,888 Series E-2 warrants, and 1,388,888 Series E-3 warrants, with the combined offering price for each share and accompanying warrants being $3.60 and $3.5999 for each pre-funded warrant and accompanying warrants, expecting net proceeds of approximately $4.2 million.

530K 1.3M
Mar 26, 2025

S-1/A filing: The filing is an S-1/A and pertains to the offering of common stock, warrants, and pre-funded warrants.

530K 1.3M
Mar 25, 2025

S-1 filing: The filing is an S-1 registration statement for an offering of common stock, warrants (Series E-1, E-2, and E-3), and pre-funded warrants.

530K 420K
Mar 14, 2025

10-K filing | 0.5M shares outstanding

530K 310K
Feb 21, 2025
Stock Split

8-K filing: Stock split 1-for-17 | Outstanding: 2,927,707 → 172,149

170K 310K
Nov 14, 2024

10-Q filing | 8.9M shares outstanding

8.9M 5.2M
Nov 14, 2024

S-3 filing: This S-3 filing registers shares of common stock for offering by selling stockholders, potentially including shares issued upon exercise of warrants, with proceeds from warrant exercises going to working capital and general corporate purposes; the selling stockholders may offer and sell up to 1,577,829 shares of Common Stock.

2.9M 5.2M
Oct 22, 2024

8-K filing: GRI Bio, Inc. completed an offering where holders of Series B-1 and Series B-2 warrants exercised their warrants to purchase 762,236 shares of common stock at a reduced price of $1.00 per share, resulting in gross proceeds of $762,236 for the Company. ($0.76M proceeds)

2.9M 3.3M
Aug 14, 2024

10-Q filing | 2.9M shares outstanding

2.9M 3.3M
Jun 27, 2024

8-K filing: GRI Bio, Inc. commenced a public offering of 60,000 shares of common stock, 2,125,793 pre-funded warrants, 2,185,793 Series C-1 warrants and 2,185,793 Series C-2 warrants at a price of $1.83 per share or pre-funded warrant, with net proceeds of approximately $3.2 million.

250K 3.3M
Jun 26, 2024

S-1/A filing: This S-1/A filing includes an offering of common stock, Series C-1 warrants, Series C-2 warrants, pre-funded warrants, and placement agent warrants.

250K 3.3M
Jun 26, 2024

S-1/A filing: This S-1/A filing relates to an offering of common stock, Series C-1 warrants, Series C-2 warrants, and pre-funded warrants, as well as placement agent warrants.

250K 3.3M
Jun 20, 2024

S-1 filing: This S-1 filing details an offering of common stock, warrants to purchase common stock, and pre-funded warrants. It also includes placement agent warrants.

250K 1.3M
Jun 17, 2024
Stock Split

8-K filing: Stock split 1-for-13 | Outstanding: 3,196,488 → 245,883

250K 1.3M
May 10, 2024

10-Q filing | 4.1M shares outstanding

4.1M 16M
May 10, 2024

S-3 filing: This S-3 filing registers an indeterminate number of shares of common stock and preferred stock, as well as debt securities, that may be issued upon conversion or exchange of other securities, exercise of warrants or rights, or pursuant to anti-dilution provisions. It also includes shares issuable as a result of stock splits, stock dividends, or similar transactions.

3.2M 16M
Mar 28, 2024

10-K filing | 3.2M shares outstanding

3.2M 12M
Feb 02, 2024

8-K filing: GRI Bio, Inc. entered into a securities purchase agreement to issue and sell 330,450 shares of common stock, 4,669,550 pre-funded warrants exercisable for 4,669,550 shares, 5,000,000 Series B-1 common warrants exercisable for 5,000,000 shares, and 5,000,000 Series B-2 common warrants exercisable for 5,000,000 shares in a public offering for a combined purchase price of $1.10 per share/warrant.

650K 12M
Jan 31, 2024

S-1/A filing: The company is filing an S-1/A to offer up to 3,871,467 shares of common stock, pre-funded warrants, Series B-1 common warrants, and Series B-2 common warrants, with an assumed combined public offering price of $2.066 per share and accompanying warrants.

650K 12M
Jan 31, 2024

S-1/A filing: This S-1/A filing, dated 2024-01-31, relates to an offering of up to 3,871,467 shares of common stock, pre-funded warrants to purchase up to 3,871,467 shares of common stock, Series B-1 common warrants to purchase up to 3,871,467 shares of common stock, and Series B-2 common warrants to purchase up to 3,871,467 shares of common stock.

650K 12M
Jan 29, 2024
Stock Split

8-K filing: Stock split 1-for-7 | Outstanding: 3,246,354 → 463,764

460K 770K
Dec 21, 2023

S-1 filing: The company is offering common stock, pre-funded warrants, and common warrants on a reasonable best efforts basis.

3.2M 5.4M
Dec 04, 2023

S-1/A filing: The filing relates to the offer and resale of 4,134,201 shares of common stock by the selling stockholder, which includes shares issuable upon the exercise of various warrants.

3.2M 5.4M
Nov 14, 2023

10-Q filing | 3.2M shares outstanding

3.2M 5.4M
Oct 13, 2023

S-3 filing: This is an S-3 filing for a secondary offering of common stock by a selling stockholder. Up to 4,134,201 shares of common stock may be offered. The company will not receive any proceeds from the sale of shares but may receive up to $56,367,395 from the exercise of warrants.

3M 5.4M
Aug 14, 2023

10-Q filing | 3.0M shares outstanding

3M 1.3M
May 30, 2023

S-3 filing: This S-3 filing registers shares of common stock for resale by a selling stockholder, which are underlying warrants. The company will not receive proceeds from the sale of these shares, but may receive up to $16,837,339 from warrant exercises.

2.9M 1.3M
May 15, 2023

10-Q filing | 2.9M shares outstanding

2.9M 120K
Apr 21, 2023
Stock Split

8-K filing: Stock split 1-for-30 | Outstanding: 13,482,342 → 449,411

450K 120K
Feb 24, 2023

10-K filing | 13.5M shares outstanding

13M 3.7M
Dec 13, 2022

8-K filing: Vallon Pharmaceuticals entered into a merger agreement with GRI Bio, Inc., involving a pre-merger financing and a proposal for a reverse stock split of Vallon's common stock prior to the merger.

12M 3.7M
Nov 03, 2022

10-Q filing | 12.1M shares outstanding

12M 3.7M
Jul 28, 2022

10-Q filing | 10.5M shares outstanding

11M 3.7M
May 27, 2022

S-1 filing: Resale of 3,700,000 shares of common stock issuable upon exercise of outstanding warrants.

11M 3.7M
May 18, 2022

8-K filing: Vallon Pharmaceuticals closed on an offering and private placement of 3,700,000 shares of common stock at a price of $1.0632 per share, generating gross proceeds of approximately $3.9 million, and also amended its bylaws regarding quorum and voting requirements. ($3.9M proceeds)

6.8M 48K
May 13, 2022

8-K filing: Vallon Pharmaceuticals, Inc. entered into a Placement Agency Agreement with Ladenburg Thalmann & Co. Inc. for a registered direct offering of up to 3,700,000 shares of common stock at a purchase price of $1.0632 per share, and entered into a Securities Purchase Agreement with certain investors for aggregate gross proceeds of approximately $3.9 million. ($3.9M proceeds)

6.8M 48K
May 09, 2022

10-Q filing | 6.8M shares outstanding

6.8M 48K
Apr 26, 2022

S-3 filing: The filing is for a shelf offering of common stock, preferred stock, warrants, debt securities, purchase contracts, units, or any combination of these securities.

6.8M 48K
Feb 14, 2022

10-K filing | 6.5M shares outstanding

6.5M 48K
Nov 12, 2021

10-Q filing | 6.8M shares outstanding

6.8M 48K
Aug 10, 2021

10-Q filing | 6.8M shares outstanding

6.8M 48K
May 13, 2021

10-Q filing | 6.8M shares outstanding

6.8M 48K
Feb 16, 2021
Stock Split

8-K filing: Vallon Pharmaceuticals completed a public offering of common stock, issued warrants to the representative, and executed a 1-for-40 reverse stock split. ($18.0M proceeds)

110K 48K
Jan 28, 2021

S-1/A filing: This is an S-1/A filing for an offering of common stock underwritten by ThinkEquity. The company is offering 1,670,000 shares of common stock with an option for the underwriters to purchase an additional 250,500 shares.

4.5M 1.9M
Jan 14, 2021

S-1/A filing: This is an S-1/A filing for an offering of common stock with an over-allotment option, intended to be listed on The Nasdaq Capital Market under the symbol "VLON."

4.5M 1.9M
Nov 16, 2020

S-1/A filing: This is an S-1/A filing for an offering of common stock underwritten by ThinkEquity.

N/A 0
Oct 23, 2020

S-1 filing: This S-1 filing describes a company offering shares of its common stock. It includes details about an underwriter option for additional shares, the intended use of proceeds, risk factors, dividend policy, and the proposed trading market symbol.

N/A 0
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