Innovative Eyewear Inc (LUCY) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 481.16% of current shares
Recent Dilution: 165.76% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
6.2M
Potential Supply
30M
Additional shares possible
Splits
None
Past 2 years

Summary

LUCY currently has 6.25M outstanding shares. with significant dilution risk as 30.1M authorized shares could dilute existing holders by 481.2%. The company has significantly diluted shareholders by 165.76% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 14, 2026

10-Q filing | 6.2M shares outstanding

6.2M 30M
Mar 25, 2026

10-K filing | 6.3M shares outstanding

6.3M 30M
Nov 13, 2025

10-Q filing | 4.9M shares outstanding

4.9M 30M
Aug 14, 2025

10-Q filing | 4.6M shares outstanding

4.6M 30M
Jul 18, 2025

S-1 filing: This prospectus relates to the resale of up to 2,370,345 shares of common stock issuable upon exercise of warrants.

3.1M 30M
Jun 24, 2025

8-K filing: Innovative Eyewear, Inc. completed an offering involving the exercise of existing warrants and the issuance of new Series I warrants, resulting in gross proceeds of approximately $2.2 million before deducting fees and expenses. ($2.22M proceeds)

3.1M 28M
May 13, 2025

10-Q filing | 3.1M shares outstanding

3.1M 28M
May 09, 2025

S-1 filing: This prospectus relates to the resale of up to 1,988,099 shares of common stock issuable upon exercise of warrants.

2.5M 28M
Apr 15, 2025

8-K filing: Innovative Eyewear, Inc. entered into inducement letter agreements with warrant holders to exercise existing warrants at a reduced price of $2.60 per share, issuing new Series G and Series H warrants in return, resulting in gross proceeds of approximately $1.8 million for working capital and general corporate purposes. ($2.04M proceeds)

2.5M 26M
Mar 24, 2025

10-K filing | 2.5M shares outstanding

2.5M 27M
Nov 12, 2024

10-Q filing | 2.4M shares outstanding

2.4M 27M
Oct 15, 2024

S-1/A filing: This prospectus relates to the resale of up to 1,360,876 shares of common stock, par value $0.00001 per share, of Innovative Eyewear, Inc., consisting of shares issuable upon exercise of warrants.

1.6M 27M
Oct 02, 2024

S-1 filing: This prospectus relates to the resale of up to 1,380,394 shares of common stock issuable upon exercise of warrants.

1.6M 27M
Sep 26, 2024

8-K filing: Innovative Eyewear, Inc. completed an offering where holders exercised warrants to purchase 263,160 shares of common stock at $9.875 per share, resulting in gross proceeds of approximately $2.6 million for the company. ($2.6M proceeds)

1.6M 26M
Sep 19, 2024

8-K filing: Innovative Eyewear, Inc. issued new unregistered Series C and Series D warrants to purchase up to an aggregate of 148,567 shares of Common Stock in consideration for the exercise of existing warrants, with gross proceeds expected to be approximately $762,148, and also issued warrants to Wainwright to purchase up to 11,143 shares of Common Stock. ($0.76M proceeds)

1.6M 26M
Sep 05, 2024

8-K filing: Innovative Eyewear, Inc. closed an offering on September 4, 2024, involving the exercise of existing warrants at a reduced price of $5.00 per share, resulting in gross proceeds of approximately $633,495 before fees and expenses and the issuance of new Series A and Series B warrants to purchase up to an aggregate of 126,699 shares of Common Stock and warrants to Wainwright to purchase up to 9,502 shares of Common Stock. ($0.63M proceeds)

1.6M 26M
Aug 12, 2024

10-Q filing | 1.6M shares outstanding

1.6M 26M
Jun 11, 2024

S-1/A filing: This prospectus relates to the resale of up to 10,173,782 shares of common stock of Innovative Eyewear, Inc., consisting of shares issuable upon exercise of warrants.

18M 26M
May 31, 2024

S-1 filing: This prospectus relates to the resale of up to 10,173,782 shares of common stock of Innovative Eyewear, Inc. issuable upon exercise of warrants originally issued on May 1, 2024 and May 29, 2024.

18M 26M
May 29, 2024

8-K filing: Innovative Eyewear, Inc. entered into a Securities Purchase Agreement to sell 5,263,161 shares of common stock and warrants to purchase up to 5,263,161 shares at a combined price of $0.475 per share and warrant, raising approximately $2.5 million in gross proceeds. ($2.5M proceeds)

18M 16M
May 14, 2024

10-Q filing | 17.5M shares outstanding

18M 16M
May 01, 2024

8-K filing: Innovative Eyewear, Inc. entered into a Securities Purchase Agreement to sell 4,200,822 shares of common stock and warrants to purchase up to 4,200,822 shares of common stock in a registered direct offering and concurrent private placement, raising approximately $1 million in gross proceeds. ($1.03M proceeds)

13M 16M
Mar 26, 2024

S-3/A filing: Innovative Eyewear, Inc. may offer and sell up to $50,000,000 in the aggregate of common stock, preferred stock, and/or debt securities from time to time, in one or more offerings.

13M 16M
Mar 25, 2024

10-K filing | 12.9M shares outstanding

13M 16M
Feb 07, 2024

S-3 filing: Innovative Eyewear, Inc. intends to offer and sell up to $50,000,000 in common stock, preferred stock and debt securities from time to time, in one or more offerings.

13M 16M
Nov 14, 2023

10-Q filing | 12.9M shares outstanding

13M 16M
Aug 11, 2023

10-Q filing | 12.9M shares outstanding

13M 16M
Jun 27, 2023

8-K filing: Innovative Eyewear, Inc. completed an offering of 4,500,000 units, each consisting of one share of common stock and a warrant to purchase one share of common stock, at a price of $1.05 per unit, resulting in gross proceeds of approximately $4.75 million. ($4.75M proceeds)

8.4M 16M
Jun 16, 2023

S-1 filing: The company is filing an S-1 to offer up to 7,142,857 units, each consisting of one share of common stock and one warrant, as well as pre-funded warrants to purchase shares of common stock on a best efforts basis.

8.4M 16M
May 26, 2023

S-1 filing: This prospectus relates to the resale of up to 300,000 shares of common stock issuable upon exercise of the warrants at an exercise price of $3.75 per share originally issued by Innovative Eyewear, Inc. on April 19, 2023.

8.4M 1.2M
May 12, 2023

10-Q filing | 8.4M shares outstanding

8.4M 940K
Apr 17, 2023

8-K filing: Innovative Eyewear Inc. entered into a warrant exercise inducement letter agreement with certain accredited investors to exercise existing warrants for 150,000 shares at $3.75 per share, resulting in gross proceeds of approximately $562,000, and will issue new warrants for 300,000 shares. ($0.56M proceeds)

7.7M 940K
Mar 24, 2023

10-K filing | 7.7M shares outstanding

7.7M 940K
Nov 10, 2022

10-Q filing | 7.3M shares outstanding

7.3M 940K
Sep 26, 2022

10-Q filing | 7.3M shares outstanding

7.3M 940K
Aug 18, 2022

8-K filing: Innovative Eyewear, Inc. completed its initial public offering of 980,000 units at $7.50 per unit, with each unit consisting of one share of common stock and two warrants; the company also granted the underwriter an option to purchase additional shares and warrants, which was partially exercised for 294,000 warrants. ($7.35M proceeds)

6.3M 940K
Aug 12, 2022

S-1/A filing: This S-1/A filing relates to an offering of units, each consisting of one share of common stock and two warrants, at a price of $8.50 per unit. The company intends to use the net proceeds for sales and marketing, inventory expansion, updating in-store displays, developing new smart eyewear styles, and working capital purposes.

6.3M 940K
Aug 03, 2022

S-1/A filing: This is an S-1/A filing for an initial public offering of units, each consisting of one share of common stock and two warrants, at an assumed price of $8.50 per unit. The company is also issuing representative's warrants to the underwriter.

6.3M 940K
Jul 25, 2022

S-1/A filing: This S-1/A filing from 2022-07-25 details an offering of 882,353 Units, each consisting of one share of common stock and two warrants, at an assumed price of $8.50 per Unit. The company intends to use the net proceeds of approximately $6.2 million for sales and marketing, inventory expansion, in-store display updates, development of new eyewear styles, and working capital.

6.3M 1.2M
May 27, 2022

S-1/A filing: This S-1/A filing relates to an offering of 1,538,461 Units at a public offering price of $6.50 per Unit, each unit consisting of one share of common stock and two warrants. It also covers compensation warrants to the underwriter.

6.3M 1.5M
May 09, 2022

S-1/A filing: The company is filing an S-1/A form to offer 1,538,461 Units, with each unit consisting of one share of common stock and two warrants, assuming a public offering price of $6.50 per Unit.

6.2M 4.7M
May 06, 2022

S-1/A filing: This S-1/A filing registers the offering of units, each consisting of one share of common stock and two warrants, at an assumed price of $6.50 per unit, as well as common stock issuable upon exercise of the warrants. The filing also covers representative's warrants to be issued to the underwriter.

6.2M 1.6M
Mar 29, 2022

S-1/A filing: This S-1/A filing from 2022-03-29 details an offering of 1,538,461 Units, each consisting of one share of common stock, one Series A Warrant, and one Series B Warrant, at an assumed price of $6.50 per Unit. The underwriters also have an option to purchase additional shares of common stock and/or Series A Warrants and/or Series B Warrants. The company estimates net proceeds of $8.5 million from the offering for sales and marketing, inventory expansion, in-store display updates, new style development, and general working capital.

6.2M 2.1M
Mar 23, 2022

S-1/A filing: This is an S-1/A filing for an initial public offering of units, each consisting of one share of common stock, one Series A Warrant, and one Series B Warrant, at an assumed price of $6.50 per unit. The company intends to list its common stock and Series A Warrants on the Nasdaq Capital Market.

6.2M 1.6M
Jan 26, 2022

S-1/A filing: This S-1/A filing is for an offering of 2,857,142 Units, each consisting of one share of common stock and one warrant, at an assumed price of $5.25 per Unit. The company estimates net proceeds of $13 million from the offering.

6.1M 5.7M
Jan 20, 2022

S-1/A filing: This is an S-1/A filing for an initial public offering of units, with each unit consisting of one share of common stock and one warrant. The company estimates net proceeds of approximately $13 million from the offering.

6.1M 3M
Jan 10, 2022

S-1/A filing: This S-1/A filing details the offering of 2,857,142 units at $5.25 per unit, each consisting of one share of common stock and one warrant to purchase one share of common stock.

6.1M 5.7M
Dec 13, 2021

S-1 filing: S-1 filing for an initial public offering including common stock and warrants.

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