Heritage Global Inc. (HGBL) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: March 12, 2026

Risk Assessment Details

Potential Dilution: 140.24% of current shares
Recent Dilution: 1.84% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
35M
Potential Supply
49M
Additional shares possible
Splits
None
Past 2 years

Summary

HGBL currently has 34.8M outstanding shares. with significant dilution risk as 48.9M authorized shares could dilute existing holders by 140.2%. The company has minimally diluted shareholders by 1.84% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Mar 12, 2026

10-K filing | 34.8M shares outstanding

35M 49M
Nov 06, 2025

10-Q filing | 34.5M shares outstanding

35M 49M
May 08, 2025

10-Q filing | 35.3M shares outstanding

35M 48M
Mar 13, 2025

10-K filing | 36.4M shares outstanding

36M 47M
Nov 07, 2024

10-Q filing | 37.2M shares outstanding

37M 46M
Aug 08, 2024

10-Q filing | 36.8M shares outstanding

37M 47M
May 09, 2024

10-Q filing | 37.4M shares outstanding

37M 46M
Mar 14, 2024

10-K filing | 37.6M shares outstanding

38M 46M
Nov 09, 2023

10-Q filing | 36.7M shares outstanding

37M 47M
Sep 14, 2023

S-3 filing: Heritage Global Inc. is offering and selling up to $150,000,000 in the aggregate of common stock, preferred stock and debt securities from time to time in one or more offerings.

37M 47M
Aug 10, 2023

10-Q filing | 36.7M shares outstanding

37M 0
May 11, 2023

10-Q filing | 37.3M shares outstanding

37M 0
Mar 24, 2023

10-K filing | 37.1M shares outstanding

37M 0
Nov 10, 2022

10-Q filing | 37.2M shares outstanding

37M 0
Aug 10, 2022

10-Q filing | 37.0M shares outstanding

37M 0
May 12, 2022

10-Q filing | 36.7M shares outstanding

37M 0
Mar 17, 2022

10-K filing | 36.9M shares outstanding

37M 0
Nov 10, 2021

10-Q filing | 37.1M shares outstanding

37M 0
Sep 24, 2021

S-3 filing: HERITAGE GLOBAL INC. is offering 3,564,897 shares of common stock by the Selling Stockholders.

37M 0
Aug 12, 2021

10-Q filing | 37.0M shares outstanding

37M 0
May 13, 2021

10-Q filing | 34.8M shares outstanding

35M 0
Mar 08, 2021

10-K filing | 32.7M shares outstanding

33M 0
Nov 09, 2020

10-Q filing | 31.9M shares outstanding

32M 0
Oct 06, 2020

8-K filing: Heritage Global Inc. completed an underwritten public offering of 5,462,500 shares of common stock at a price of $1.75 per share, resulting in net proceeds of approximately $8.7 million. ($9.56M proceeds)

29M 0
Sep 03, 2020

S-3 filing: The company is filing an S-3 to register the offer and sale of up to $150,000,000 in the aggregate of common stock, preferred stock, and debt securities from time to time in one or more offerings.

29M 0
Aug 10, 2020

10-Q filing | 28.8M shares outstanding

29M 0
May 11, 2020

10-Q filing | 28.8M shares outstanding

29M 0
Mar 09, 2020

10-K filing | 29.3M shares outstanding

29M 0
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