Humacyte, Inc. (HUMA) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 13, 2026

Risk Assessment Details

Potential Dilution: 10.28% of current shares
Recent Dilution: 69.38% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
220M
Potential Supply
23M
Additional shares possible
Splits
None
Past 2 years

Summary

HUMA currently has 222M outstanding shares. with limited dilution risk as only 22.8M additional shares (10.3%) are authorized for issuance. The company has significantly diluted shareholders by 69.38% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 13, 2026

10-Q filing | 222.0M shares outstanding

220M 23M
Mar 19, 2026

8-K filing: Humacyte, Inc. entered into securities purchase agreements to issue and sell 25,000,000 shares of common stock at $0.80 per share in a registered direct offering. ($18.4M proceeds)

190M 23M
Nov 12, 2025

10-Q filing | 187.3M shares outstanding

190M 23M
Sep 12, 2025

S-3 filing: Humacyte, Inc. is offering and selling up to $350,000,000 in the aggregate of common stock, preferred stock, warrants, debt securities, subscription rights and units, either individually or in combination, from time to time.

160M 23M
May 13, 2025

10-Q filing | 155.1M shares outstanding

160M 23M
Mar 31, 2025

10-K filing | 155.1M shares outstanding

160M 23M
Mar 26, 2025

8-K filing: Humacyte, Inc. entered into an underwriting agreement for the issuance and sale of 25,000,000 shares of common stock at $2.00 per share, with an option for the underwriters to purchase an additional 3,750,000 shares. ($46.6M proceeds)

120M 23M
Nov 14, 2024

8-K filing: Humacyte, Inc. entered into a securities purchase agreement to issue and sell 2,808,988 shares of common stock and warrants to purchase up to 2,808,988 shares of common stock in a registered direct offering at a price of $5.34 per share and accompanying warrant, expected to close on November 15, 2024.

120M 31M
Nov 08, 2024

10-Q filing | 119.4M shares outstanding

120M 31M
Oct 07, 2024

8-K filing: Humacyte, Inc. entered into a securities purchase agreement to issue and sell 5,681,820 shares of common stock and warrants to purchase up to 5,681,820 shares of common stock in a registered direct offering at a price of $5.28 per share and accompanying warrant, with the offering expected to close on October 7, 2024.

120M 31M
Sep 25, 2024

8-K filing: Humacyte, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, allowing the company to sell up to $50,000,000 of its common stock to Lincoln Park, subject to certain limitations and conditions.

120M 31M
Aug 13, 2024

10-Q filing | 119.2M shares outstanding

120M 31M
May 13, 2024

10-Q filing | 108.2M shares outstanding

110M 31M
Mar 28, 2024

10-K filing | 119.1M shares outstanding

120M 31M
Mar 04, 2024

8-K filing: Humacyte, Inc. entered into an underwriting agreement for the issuance and sale of 13,400,000 shares of its common stock at $3.00 per share, with an option for the underwriters to purchase an additional 2,010,000 shares. ($46.23M proceeds)

100M 31M
Nov 09, 2023

10-Q filing | 103.4M shares outstanding

100M 31M
Aug 14, 2023

10-Q filing | 103.4M shares outstanding

100M 31M
Jun 09, 2023

S-3 filing: The filing relates to the potential issuance of up to 1,333,334 shares of common stock upon exercise of an option, with the company potentially receiving up to $10,000,000 in proceeds.

100M 31M
May 12, 2023

10-Q filing | 103.3M shares outstanding

100M 30M
Mar 24, 2023

10-K filing | 103.1M shares outstanding

100M 30M
Nov 10, 2022

10-Q filing | 103.0M shares outstanding

100M 30M
Sep 12, 2022

POS AM filing: Post-Effective Amendment No. 3 is being filed to terminate the effectiveness of the Original Registration Statement and to deregister all the Registered Shares that remain unsold under the Original Registration Statement.

100M 30M
Sep 01, 2022

S-3 filing: The filing is an S-3 form for an at-the-market offering of common stock with an aggregate offering price of up to $80,000,000. The company intends to use the net proceeds from this offering to fund the continued development of the product candidates in their pipeline and for working capital and general corporate purposes.

100M 120M
Sep 01, 2022

S-3 filing: This S-3 filing includes the offering of up to 5,177,500 shares of common stock issuable upon the exercise of warrants and up to 89,716,840 shares of common stock by selling stockholders.

100M 120M
Aug 12, 2022

10-Q filing | 103.0M shares outstanding

100M 22M
May 13, 2022

10-Q filing | 103.0M shares outstanding

100M 22M
Mar 30, 2022

POS AM filing: This POS AM filing relates to the issuance of up to 5,177,500 shares of common stock upon exercise of warrants and the offer and sale of up to 89,706,840 shares of common stock by selling stockholders.

100M 22M
Mar 29, 2022

10-K filing | 103.0M shares outstanding

100M 22M
Nov 19, 2021

POS AM filing: This POS AM filing relates to the issuance of up to 5,177,500 shares of common stock upon exercise of warrants and the resale of up to 90,006,840 shares of common stock by selling stockholders.

100M 22M
Nov 15, 2021

10-Q filing | 103.0M shares outstanding

100M 120M
Oct 22, 2021

S-1/A filing: This S-1/A filing registers shares of common stock offered by the company and selling stockholders, including shares issuable upon the exercise of warrants and shares subject to lock-up agreements.

100M 120M
Sep 17, 2021

S-1 filing: This S-1 filing relates to the issuance of up to 5,177,500 shares of common stock issuable upon exercise of warrants and the offer and sale of up to 90,069,340 shares of common stock by selling stockholders.

100M 120M
Aug 16, 2021

10-Q filing | 10.4M shares outstanding

10M 22M
May 17, 2021

10-Q filing | 10.4M shares outstanding

10M 22M
Feb 17, 2021

8-K filing: Alpha Healthcare Acquisition Corp. entered into a business combination agreement with Humacyte, Inc., involving the acquisition of Humacyte in exchange for Alpha Healthcare's Class A common stock and potential additional shares based on stock performance after the closing of the Business Combination. ($175.0M proceeds)

10M 22M
Feb 16, 2021

10-K filing | 10.4M shares outstanding

10M 22M
Nov 13, 2020

10-Q filing | 10.4M shares outstanding

10M 22M
Sep 22, 2020

8-K filing: Alpha Healthcare Acquisition Corp. completed its initial public offering of 10,000,000 units at $10.00 per unit, generating gross proceeds of $100,000,000, and simultaneously completed the private sale of 355,000 units to the Sponsor, Oppenheimer and Northland at $10.00 per unit, generating gross proceeds of $3,550,000. ($103.55M proceeds)

2.9M 22M
Sep 14, 2020

S-1/A filing: Initial public offering of units, each consisting of one share of Class A common stock and one-half of one redeemable warrant, to effect a business combination in the healthcare industry.

2.9M 22M
Sep 01, 2020

S-1/A filing: Initial public offering of 10,000,000 units at $10.00 per unit, each unit consisting of one share of Class A common stock and one-half of one redeemable warrant.

2.9M 15M
Aug 04, 2020

S-1 filing: Initial public offering of units, each consisting of one share of Class A common stock and one-half of one redeemable warrant, to raise funds for a business combination in the healthcare industry.

2.9M 22M
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