HeartSciences Inc. (HSCS) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
HSCS currently has 3.16M outstanding shares. with significant dilution risk as 40.1M authorized shares could dilute existing holders by 1267.8%. The company has significantly diluted shareholders by 148.42% over the past 2 years, indicating aggressive capital raising.
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| Mar 16, 2026 |
10-Q filing | 3.2M shares outstanding |
3.2M | 40M |
| Dec 15, 2025 |
10-Q filing | 3.2M shares outstanding |
3.2M | 40M |
| Oct 01, 2025 |
8-K filing: HeartSciences Inc. reports the issuance of common stock through a Regulation A offering and a debt exchange, resulting in 3,069,635 shares outstanding as of October 1, 2025. ($6.7M proceeds) |
3.1M | 40M |
| Sep 11, 2025 |
10-Q filing | 2.6M shares outstanding |
2.6M | 40M |
| Aug 22, 2025 |
8-K filing: HeartSciences, Inc. reports the issuance of shares of common stock through a Regulation A offering and a debt exchange, resulting in 2,535,066 shares of common stock issued and outstanding as of August 22, 2025. ($5.2M proceeds) |
2.5M | 40M |
| Jul 30, 2025 |
8-K filing: HeartSciences, Inc. reports the issuance of 1,241,188 Units through a Regulation A Offering, resulting in $4.3 million of gross proceeds, and the exchange of $1,105,000 of debt for 301,111 shares of common stock, leading to 2,244,247 shares of common stock outstanding. ($1.11M proceeds) |
2.2M | 40M |
| Jul 24, 2025 |
10-K filing | 1.9M shares outstanding |
1.9M | 40M |
| Jul 21, 2025 |
8-K filing: The Company has received $2.8 million in gross proceeds from the issuance of 797,452 Units in a Regulation A Offering, with 486,815 shares of Series D Preferred Stock converted into common stock, resulting in 1,797,914 shares of Common Stock outstanding as of July 16, 2025. |
1.8M | 40M |
| Jul 14, 2025 |
8-K filing: The company issued shares through a Regulation A offering and a debt exchange, resulting in 1,555,049 shares outstanding as of July 11, 2025. ($1.7M proceeds) |
1.6M | 40M |
| Jun 04, 2025 |
8-K filing: HeartSciences Inc. filed a Certificate of Designations designating 4,285,714 shares of Series D Convertible Preferred Stock and previously disclosed an offering of up to 4,285,714 units at $3.50 per Unit, with each unit consisting of preferred stock and a warrant. |
990K | 40M |
| May 28, 2025 |
8-K filing: HeartSciences Inc. filed a Certificate of Designations for Series D Convertible Preferred Stock, offering up to 4,285,714 units at $3.50 per unit, with each unit consisting of one share of Series D Preferred Stock and one warrant to purchase one share of common stock at $5.00 per share. ($15.0M proceeds) |
990K | 40M |
| Mar 13, 2025 |
10-Q filing | 1.0M shares outstanding |
990K | 40M |
| Dec 17, 2024 |
RW filing: The company confirms that no securities have been, or will be, issued or sold pursuant to the Registration Statement or the public offering prospectus contained therein and requests that all fees paid to the Commission be credited for future use. |
920K | 40M |
| Dec 16, 2024 |
10-Q filing | 0.9M shares outstanding |
920K | 42M |
| Sep 27, 2024 |
S-1/A filing: Heart Test Laboratories, Inc. is offering on a best efforts basis up to 1,882,353 shares of its common stock and placement agent warrants to purchase up to 75,294 shares of our Common Stock issuable to the placement agent. |
910K | 42M |
| Sep 12, 2024 |
10-Q filing | 0.9M shares outstanding |
910K | 40M |
| Jul 29, 2024 |
10-K filing | 0.9M shares outstanding |
860K | 40M |
| May 17, 2024 |
Stock Split
8-K filing: Stock split 1-for-100 | Outstanding: 65,561,630 → 655,616 |
660K | 400K |
| Mar 14, 2024 |
10-Q filing | 65.6M shares outstanding |
66M | 4B |
| Mar 05, 2024 |
S-1 filing: This S-1 filing relates to the resale of up to 34,684,859 shares of Heart Test Laboratories, Inc.'s common stock by selling stockholders. |
64M | 4B |
| Dec 14, 2023 |
10-Q filing | 63.6M shares outstanding |
64M | 4B |
| Dec 06, 2023 |
8-K filing: Heart Test Laboratories, Inc. satisfied the Additional Financing requirement of $10,000,000 on December 1, 2023, making the License Agreements no longer subject to termination, and the MTS Warrants are fully exercisable. |
11M | 4B |
| Nov 17, 2023 |
8-K filing: Heart Test Laboratories, Inc. reports several material events including the conversion of notes into common stock, warrant amendments, the closing of the Mount Sinai transaction involving the issuance of common stock and warrants, and an amendment to the Equity Distribution Agreement with Maxim Group LLC. |
11M | 4B |
| Nov 13, 2023 |
8-K filing: Heart Test Laboratories, Inc. entered into Amendment No. 1 to the Original Equity Distribution Agreement with Maxim Group LLC, potentially allowing the issuance and sale of up to $10,000,000 of its shares of Common Stock. ($3.25M proceeds) |
11M | 4B |
| Oct 16, 2023 |
S-1/A filing: Heart Test Laboratories, Inc. is offering up to 19,047,619 shares of its common stock and placement agent warrants to purchase up to 761,905 shares of common stock, with Maxim Group LLC as the exclusive placement agent. |
11M | 4B |
| Sep 21, 2023 |
8-K filing: Heart Test Laboratories, Inc. entered into license agreements with Icahn School of Medicine at Mount Sinai and a Securities Purchase Agreement, agreeing to sell common stock and warrants to Mount Sinai contingent on future financings. |
11M | 4B |
| Sep 18, 2023 |
S-3 filing: Heart Test Laboratories, Inc. files an S-3 to issue up to $50,000,000 of any combination of common stock, preferred stock, or debt securities and also files for an at the market offering of common stock through Maxim Group LLC for up to $3,250,000 million. |
11M | 4B |
| Sep 14, 2023 |
10-Q filing | 10.3M shares outstanding |
10M | 19M |
| Sep 07, 2023 |
8-K filing: Heart Test Laboratories, Inc. entered into a Senior Unsecured Promissory Drawdown Loan Note with Matthews Southwest Holdings, Inc., issuing warrants to acquire common stock as a facility fee. |
10M | 19M |
| Jul 19, 2023 |
10-K filing | 10.4M shares outstanding |
10M | 19M |
| Jun 07, 2023 |
S-1 filing: Heart Test Laboratories, Inc. is offering up to 8,000,000 shares of its common stock on a best efforts basis, with an assumed public offering price of $1.00 per share. |
10M | 19M |
| Mar 29, 2023 |
S-1 filing: This S-1 filing relates to the offering of common stock by the selling shareholder, Lincoln Park, with the company potentially receiving up to $15,000,000 in gross proceeds from sales to Lincoln Park under a purchase agreement. |
14M | 11M |
| Mar 16, 2023 |
10-Q filing | 9.7M shares outstanding |
9.7M | 7M |
| Mar 13, 2023 |
8-K filing: Heart Test Laboratories, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC for the purchase of up to $15.0 million worth of the Company's common stock, and issued 100,000 shares as initial commitment shares. |
8.2M | 7M |
| Feb 22, 2023 |
8-K filing: Heart Test Laboratories, Inc. issued 1,322,304 shares of common stock pursuant to exercises of Bridge Warrants, receiving approximately $1.3 million in proceeds. ($1.3M proceeds) |
8.2M | 7M |
| Feb 03, 2023 |
8-K filing: Heart Test Laboratories, Inc. amended the warrants to purchase common stock, adjusting the exercise price to $1.00 for a limited period, with a cap on the number of shares that can be issued. |
8.2M | 7M |
| Jan 11, 2023 |
8-K filing: On January 10, 2023, an investor exercised pre-funded warrants to acquire 139,356 shares of the company's common stock at $0.0001 per share for a total of $13.94. ($0.0M proceeds) |
8.2M | 7M |
| Dec 15, 2022 |
10-Q filing | 8.2M shares outstanding |
8.2M | 7M |
| Oct 06, 2022 |
S-1/A filing: This prospectus relates to the offer and resale from time to time by the selling securityholders named in this prospectus of shares of common stock of Heart Test Laboratories, Inc. |
8.2M | 7M |
| Sep 12, 2022 |
S-1 filing: This prospectus relates to the offer and resale from time to time by the selling securityholders named in this prospectus of shares of common stock of Heart Test Laboratories, Inc. |
8.2M | 7M |
| Sep 12, 2022 |
10-Q filing | 8.2M shares outstanding |
8.2M | 7M |
| Jun 13, 2022 |
S-1/A filing: This is the initial public offering of Heart Test Laboratories, Inc. We are offering units of securities (the Units), with each Unit consisting of (a) one share of our common stock, par value $0.001 per share (Common Stock), and (b) a warrant (the Warrants) to purchase one share of our Common Stock. The shares of our Common Stock and the Warrants are immediately separable and will be issued separately but will be purchased together in this offering. |
3.3M | 3.6M |
| Jun 10, 2022 |
S-1/A filing: Heart Test Laboratories, Inc. is conducting an initial public offering of units, each consisting of one share of common stock and one warrant, with an anticipated IPO price between $4.50 and $5.50 per unit, seeking to raise approximately $8.75 million. |
3.3M | 1.9M |
| Jun 06, 2022 |
S-1/A filing: Initial public offering of units of securities, with each unit consisting of one share of common stock and a warrant to purchase one share of common stock. |
3.3M | 1.9M |
| May 17, 2022 |
S-1 filing: Heart Test Laboratories, Inc. is offering units of securities, with each unit consisting of one share of common stock and a warrant to purchase one share of common stock. |
N/A | 0 |