JENA ACQUISITION Corp II (JENA) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

High Risk

Significant dilution risk

Last updated: May 15, 2026

Risk Assessment Details

Potential Dilution: 87.08% of current shares

Recent Dilution: 303.91% (2 years)

Historical Dilution Factor: significant recent dilution

Outstanding Shares

23M

Potential Supply

20M

Additional shares possible

Splits

None

Past 2 years

Summary

JENA currently has 23.2M outstanding shares. with significant dilution risk as 20.2M authorized shares could dilute existing holders by 87.1%. The company has significantly diluted shareholders by 303.91% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
May 15, 2026	10-Q filing \| 23.2M shares outstanding	23M	20M
Nov 14, 2025	10-Q filing \| 23.2M shares outstanding	23M	20M
Aug 13, 2025	10-Q filing \| 23.2M shares outstanding	23M	20M
May 16, 2025	S-1/A filing: Jena Acquisition Corporation II is offering 20,000,000 units at $10.00 per unit, each unit consisting of one Class A ordinary share and one right to receive one-twentieth (1/20) of a Class A ordinary share upon the consummation of an initial business combination.	5.8M	20M
May 12, 2025	S-1 filing: Jena Acquisition Corporation II is offering 20,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one right to receive one-twentieth of a Class A ordinary share upon the consummation of an initial business combination.	5.8M	20M

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