GRAPHJET TECHNOLOGY (GTI) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
GTI currently has 3.85M outstanding shares. with significant dilution risk as 18M authorized shares could dilute existing holders by 467.1%. The company has significantly diluted shareholders by 55.22% 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 |
|---|---|---|---|
| Jan 12, 2026 |
S-1/A filing: This S-1/A filing relates to the offer and resale of up to 17,772,578 Class A ordinary shares by selling securityholders, including shares issuable upon exercise of warrants and shares issued for property and debt settlement. |
3.8M | 18M |
| Dec 23, 2025 |
10-K filing | 3.8M shares outstanding |
3.8M | 18M |
| Dec 22, 2025 |
S-1/A filing: This S-1/A filing by Graphjet Technology on December 22, 2025, relates to the offer and resale of up to 17,772,578 Class A Ordinary Shares by selling securityholders, including shares issuable upon exercise of warrants and shares issued as consideration for property and debt settlement. |
3.8M | 18M |
| Oct 21, 2025 |
S-1 filing: This is an S-1 filing for Graphjet Technology involving the resale of Class A ordinary shares by selling securityholders. The offering includes shares issuable upon exercise of warrants and shares issued to various parties in connection with agreements and debt settlements. |
3.2M | 8M |
| Oct 17, 2025 |
8-K filing: Graphjet Technology entered into a Master Loan Agreement with International Liquidity, LLC for a secured term loan, pledging 3,157,000 shares of the Company's stock as collateral. |
3.2M | 190K |
| Sep 05, 2025 |
10-Q filing | 3.2M shares outstanding |
3.2M | 190K |
| Aug 25, 2025 |
Stock Split
8-K filing | Stock split 1-for-60 | Outstanding: 147,169,409 → 2,452,823 | Transactions: Issuance 1624375 Common stock to Tan Chin Teong |
2.5M | 190K |
| Aug 05, 2025 |
10-Q filing | 147.2M shares outstanding |
150M | 11M |
| Jul 15, 2025 |
10-K filing | 142.7M shares outstanding |
140M | 11M |
| May 20, 2025 |
8-K filing: Graphjet Technology entered into a Warrant Subscription Agreement with Aiden Lee Ping Wei, the former CEO, for the purchase of 20,000,000 warrants to purchase up to 200,000,000 Class A ordinary shares at an exercise price of $0.055 per warrant share, for $200,000.00. ($0.2M proceeds) |
150M | 11M |
| Nov 01, 2024 |
S-1/A filing: This S-1/A filing from Graphjet Technology relates to an offering of 718,390 Class A Ordinary Shares with net proceeds of $1,450,000 intended for working capital and general corporate purposes. |
150M | 11M |
| Oct 25, 2024 |
S-1/A filing: This S-1/A filing from Graphjet Technology relates to a proposed offering of Class A Ordinary Shares, with the intent to use the proceeds for working capital and general corporate purposes. |
150M | 10M |
| Oct 03, 2024 |
S-1 filing: This S-1 filing by Graphjet Technology details an offering of Class A Ordinary Shares, with the intention to use the gross proceeds for working capital and general corporate purposes. The company's Class A Ordinary Shares are currently traded on the Nasdaq under the symbol 'GTI'. |
150M | 10M |
| Aug 28, 2024 |
S-1/A filing: S-1/A filing indicating the offering price of Class A Ordinary Shares underlying the Warrants is determined by the exercise price of $11.50 per share. |
150M | 10M |
| Aug 12, 2024 |
10-Q filing | 146.7M shares outstanding |
150M | 10M |
| Jul 19, 2024 |
S-1/A filing: The filing discusses the determination of the offering price for Class A Ordinary Shares underlying warrants, with an exercise price of $11.50 per share. It also mentions the uncertainty regarding the potential sale prices of Class A Ordinary Shares or Sponsor Warrants by Selling Securityholders. |
140M | 10M |
| Jun 25, 2024 |
S-1 filing: The offering price of the Class A Ordinary Shares underlying the Warrants is determined by reference to the exercise price of the Warrants of $11.50 per share. |
140M | 10M |
| Jun 20, 2024 |
10-Q filing | 144.7M shares outstanding |
140M | 10M |
| Apr 22, 2024 |
10-K filing | 144.6M shares outstanding |
140M | 10M |
| Mar 20, 2024 |
8-K filing: Graphjet Technology closed a PIPE financing issuing 250,000 shares for $2.5 million and issued 2,760,000 shares to Arc Group Limited as financial advisor. ($2.5M proceeds) |
140M | 10M |
| Mar 12, 2024 |
8-K filing: Graphjet converted $8.2 million of debt into 2,050,000 Graphjet Pre-Transaction Shares in connection with the Business Combination, resulting in a pro forma weighted average shares outstanding of ordinary shares of 144,163,075. ($8.2M proceeds) |
140M | 10M |
| Feb 20, 2024 |
8-K filing: Energem Corp. held an extraordinary general meeting where shareholders approved amendments to the Trust Agreement and Articles of Association, allowing for an extension of the business combination deadline, and 189,385 Class A ordinary shares were redeemed for cash at $11.47 per share. ($2.17M proceeds) |
1M | 10M |
| Nov 14, 2023 |
10-Q filing | 0.5M shares outstanding |
530K | 10M |
| Oct 17, 2023 |
8-K filing: Energem Corp. held extraordinary general meetings where shareholders approved amendments to the Trust Agreement and Articles of Association, allowing for extensions of the business combination deadline. In connection with these meetings, shareholders redeemed Class A ordinary shares for cash. ($106.0M proceeds) |
1.2M | 10M |
| Aug 16, 2023 |
8-K filing: Energem Corp. amended its Trust Agreement and Articles of Association to extend the date to complete a business combination, and redeemed 678,549 Class A ordinary shares for cash at $10.95 per share, resulting in 1,216,932 public Class A ordinary shares outstanding. ($7.47M proceeds) |
1.2M | 10M |
| Aug 15, 2023 |
10-Q filing | 0.5M shares outstanding |
530K | 10M |
| Jul 13, 2023 |
8-K filing: Energem Corp. held an extraordinary general meeting where shareholders approved amendments to the Trust Agreement and voted on an extension proposal, leading to the redemption of 9,604,519 Class A ordinary shares at $10.26 per share, totaling approximately $98,538,999.03, and a subsequent deposit of $85,296.65 to the Trust Account for the ninth monthly extension. ($98.54M proceeds) |
530K | 10M |
| Jun 14, 2023 |
8-K filing: Energem Corp. shareholders approved an amendment to the Trust Agreement to extend the date on which Continental must liquidate the Trust Account from November 18, 2022 to August 18, 2023, provided Energem deposits $0.045 per Energem public Class A ordinary share per month extended, and in connection with the voting on the Extension Amendment Proposal and the Trust Amendment Proposal at the Extraordinary General Meeting, holders of 9,604,519 shares of Energem's Class A ordinary shares exercised their right to redeem those shares for cash at an approximate price of $10.26 per share, for an aggregate of approximately $98,538,999.03. ($98.54M proceeds) |
530K | 10M |
| May 16, 2023 |
8-K filing: Energem Corp. held an extraordinary general meeting where shareholders approved amendments to the Trust Agreement and authorized extensions for completing a business combination; holders of 9,604,519 Class A ordinary shares redeemed their shares for approximately $10.26 per share, totaling $98,538,999.03, leaving a Trust Account balance of $19,446,970.75, and Energem deposited $85,296.65 for the seventh monthly extension. ($98.54M proceeds) |
530K | 10M |
| May 15, 2023 |
10-Q filing | 0.5M shares outstanding |
530K | 10M |
| Apr 14, 2023 |
8-K filing: Energem Corp. held an extraordinary general meeting where shareholders approved amendments to the Trust Agreement and Articles of Association, leading to the redemption of 9,604,519 Class A ordinary shares at $10.26 per share, totaling approximately $98,538,999.03, and a subsequent deposit of $85,296.65 into the Trust Account for a monthly extension. ($98.54M proceeds) |
530K | 10M |
| Mar 30, 2023 |
10-K filing | 0.5M shares outstanding |
530K | 10M |
| Mar 14, 2023 |
8-K filing: Energem Corp. held an extraordinary general meeting where shareholders approved amendments to the Trust Agreement and Second Amended and Restated Articles of Association, allowing for extensions of the business combination deadline, and holders of 9,604,519 Class A ordinary shares redeemed their shares for approximately $10.26 per share, totaling approximately $98,538,999.03. ($98.54M proceeds) |
1.9M | 10M |
| Feb 13, 2023 |
8-K filing: Energem Corp. held an extraordinary general meeting where shareholders approved amendments to the Trust Agreement and Articles of Association, allowing for extensions to complete a business combination. Holders of 9,604,519 Class A ordinary shares redeemed their shares for cash at $10.26 per share, totaling approximately $98,538,999.03. ($98.54M proceeds) |
1.9M | 10M |
| Jan 17, 2023 |
8-K filing: Energem enters into a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd. where the combined entity, Graphjet Technology, has the right to issue and sell up to $200 million in Class A Ordinary Shares to the Investor. |
1.9M | 10M |
| Nov 18, 2022 |
8-K filing: Holders of 9,604,519 shares of Class A ordinary shares exercised their right to redeem those shares for cash at an approximate price of $10.21 per share, for an aggregate of approximately $98,062,138.99. ($98.06M proceeds) |
1.9M | 10M |
| Nov 15, 2022 |
10-Q filing | 12.0M shares outstanding |
12M | 10M |
| Aug 15, 2022 |
10-Q filing | 12.0M shares outstanding |
12M | 10M |
| Aug 02, 2022 |
8-K filing: Energem Corp. entered into a share purchase agreement with Graphjet Technology Sdn. Bhd. to acquire all of the issued and outstanding Graphjet Shares in exchange for Energem Class A ordinary shares equal to approximately $1,380,000,000 divided by ten dollars ($10.00) per share. ($1380.0M proceeds) |
10M | 10M |
| May 13, 2022 |
10-Q filing | 10.3M shares outstanding |
10M | 10M |
| Mar 31, 2022 |
10-K filing | 0.5M shares outstanding |
530K | 10M |
| Dec 30, 2021 |
10-Q filing | 2.9M shares outstanding |
2.9M | 10M |
| Nov 23, 2021 |
8-K filing: Energem Corp. consummated its IPO of 10,000,000 units, each consisting of one Class A ordinary share and one warrant, and simultaneously, Energem LLC purchased 528,075 placement units, each consisting of one Class A Ordinary Share and one warrant. |
2.9M | 10M |
| Nov 19, 2021 |
8-K filing: Energem Corp. consummated its IPO of 10,000,000 units at $10.00 per unit, generating gross proceeds of $100,000,000, and completed a private placement of 528,075 units at $10.00 per unit, generating gross proceeds of $5,280,750. ($105.28M proceeds) |
2.9M | 10M |
| Nov 09, 2021 |
S-1/A filing: Filing relates to an initial public offering of units by Energem Corp, a blank check company, with each unit consisting of one Class A ordinary share and one warrant, as well as the purchase of placement units by the sponsor. |
2.9M | 10M |
| Oct 20, 2021 |
S-1/A filing: This S-1/A filing pertains to an initial public offering of units of Energem Corp., a blank check company, with each unit consisting of one Class A ordinary share and one redeemable warrant, along with a concurrent private placement of similar units to the company's sponsor. |
2.9M | 10M |
| Sep 10, 2021 |
S-1 filing: Energem Corp. is offering 10,000,000 units at $10.00 per unit in an initial public offering, each unit consists of one Class A ordinary share and one-half of one redeemable warrant. |
2.9M | 10M |