Spectral AI, Inc. (MDAI) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
MDAI currently has 31.8M outstanding shares. with significant dilution risk as 71.4M authorized shares could dilute existing holders by 224.3%. The company has significantly diluted shareholders by 76.34% over the past 2 years, indicating aggressive capital raising.
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| Mar 25, 2026 |
10-K filing | 31.8M shares outstanding |
32M | 71M |
| Oct 30, 2025 |
S-3 filing: This prospectus relates to the resale of common stock issuable upon the exercise of warrants and pre-funded warrants by selling stockholders. |
31M | 71M |
| Oct 24, 2025 |
8-K filing: Spectral AI, Inc. completed a sale of 3,065,000 shares of common stock at $1.90 per share and a concurrent private placement of warrants to purchase up to 4,000,000 shares and pre-funded warrants to purchase up to 935,000 shares. ($5.82M proceeds) |
24M | 66M |
| May 15, 2025 |
10-Q filing | 24.0M shares outstanding |
24M | 66M |
| May 07, 2025 |
S-3/A filing: This prospectus relates to the resale from time to time by the selling stockholders of up to 2,836,918 shares of our common stock issuable upon the exercise of warrants to acquire shares of common stock. |
26M | 66M |
| May 02, 2025 |
S-3/A filing: This prospectus relates to the resale from time to time by the selling stockholders of up to 2,836,918 shares of our common stock, par value $0.0001, issuable upon the exercise of warrants to acquire shares of common stock. |
26M | 66M |
| Apr 25, 2025 |
S-3 filing: This prospectus relates to the resale from time to time by the selling stockholders named in this prospectus or their permitted transferees (the "selling stockholders") of up to 2,836,918 shares of our common stock, par value $0.0001 ("common stock"), issuable upon the exercise of warrants to acquire shares of common stock ("Warrants") |
26M | 66M |
| Mar 31, 2025 |
10-K filing | 25.3M shares outstanding |
25M | 64M |
| Mar 26, 2025 |
8-K filing: Spectral AI, Inc. completed an offering of 2,076,923 shares of common stock at $1.30 per share and issued 2,076,923 warrants at an exercise price of $1.80 per share, with gross proceeds of $2,700,000 before expenses. |
18M | 64M |
| Mar 04, 2025 |
8-K filing: Spectral AI, Inc. entered into a securities purchase agreement for the sale of 270,900 shares of common stock at $1.66 per share, with gross proceeds of $449,694, and the closing of the Offering occurred on December 11, 2024. ($0.45M proceeds) |
18M | 64M |
| Mar 04, 2025 |
8-K filing: Spectral AI, Inc. entered into a securities purchase agreement for the sale of 920,000 shares of common stock at $1.38 per share and pre-funded warrants to purchase up to 725,000 shares of common stock at $1.38 per pre-funded warrant. ($2.27M proceeds) |
18M | 64M |
| Mar 04, 2025 |
8-K filing: Spectral AI, Inc. entered into a securities purchase agreement with an investor for the sale of up to $5,000,000 in shares of common stock, and on December 12, 2024, the Investor purchased 500,000 shares at $1.80 per share. ($0.9M proceeds) |
18M | 64M |
| Nov 21, 2024 |
S-3 filing: This prospectus relates to the resale from time to time by the selling stockholders of up to 1,000,000 shares of our common stock, issuable upon the conversion of a convertible promissory note. |
18M | 64M |
| Nov 06, 2024 |
10-Q filing | 17.9M shares outstanding |
18M | 63M |
| Oct 16, 2024 |
S-3 filing: The filing is an S-3 form for a shelf offering of up to $50,000,000 in shares of common stock. |
18M | 63M |
| Aug 12, 2024 |
10-Q filing | 17.6M shares outstanding |
18M | 63M |
| May 09, 2024 |
10-Q filing | 16.6M shares outstanding |
17M | 63M |
| Apr 10, 2024 |
S-1 filing: This prospectus relates to the resale of up to 6,369,937 shares of common stock by YA II PN, LTD pursuant to a standby equity purchase agreement. The company may receive up to $30,000,000 from sales of common stock to Yorkville. |
18M | 63M |
| Mar 29, 2024 |
10-K filing | 17.5M shares outstanding |
17M | 43M |
| Mar 22, 2024 |
8-K filing: Spectral AI, Inc. entered into a Standby Equity Purchase Agreement with YA II PN, LTD, allowing the company to sell up to $30.0 million of its shares of common stock, and also entered into convertible promissory notes for an aggregate principal amount of up to $12.5 million. |
16M | 43M |
| Jan 23, 2024 |
S-1/A filing: The offering is for up to 4,050,000 shares of common stock by B. Riley Principal Capital II, with the company potentially receiving up to $10,000,000 in gross proceeds under a purchase agreement. |
16M | 43M |
| Jan 05, 2024 |
S-1 filing: The filing relates to the offer and sale of up to 3,249,360 shares of common stock by B. Riley Principal Capital II, with the company potentially receiving up to $10,000,000 in gross proceeds. |
16M | 42M |
| Dec 27, 2023 |
8-K filing: Spectral AI, Inc. entered into a Common Stock Purchase Agreement with B. Riley Principal Capital II, LLC, allowing the Company to sell up to $10,000,000 in aggregate gross purchase price of newly issued shares of Common Stock. |
16M | 39M |
| Dec 18, 2023 |
S-1/A filing: This S-1/A filing includes a primary offering of up to 8,433,231 shares of common stock issuable upon exercise of warrants and a secondary offering of up to 10,069,748 shares of common stock by selling stockholders. |
16M | 39M |
| Dec 07, 2023 |
S-1/A filing: This S-1/A filing includes a primary offering of up to 8,433,231 shares of common stock issuable upon exercise of warrants and a secondary offering of up to 10,069,748 shares of common stock by selling stockholders. |
16M | 39M |
| Nov 21, 2023 |
S-1/A filing: This S-1/A filing includes a primary offering of up to 8,433,231 shares of common stock issuable upon exercise of warrants and a secondary offering of up to 10,069,748 shares of common stock by selling stockholders. |
16M | 39M |
| Nov 14, 2023 |
10-Q filing | 16.3M shares outstanding |
16M | 39M |
| Oct 30, 2023 |
S-1 filing: This S-1 filing includes a primary offering of up to 8,433,231 shares of common stock issuable upon exercise of warrants and a secondary offering of up to 10,069,748 shares of common stock by selling stockholders. |
16M | 39M |
| Aug 14, 2023 |
10-Q filing | 0.5M shares outstanding |
460K | 20M |
| May 12, 2023 |
10-Q filing | 0.5M shares outstanding |
460K | 20M |
| Mar 31, 2023 |
10-K filing | 0.5M shares outstanding |
460K | 20M |
| Dec 22, 2022 |
8-K filing: Stockholders elected to redeem an aggregate of 24,841,284 shares of Class A Common Stock, representing approximately 98.2% of the issued and outstanding shares of Class A Common Stock. |
25M | 20M |
| Nov 10, 2022 |
10-Q filing | 25.3M shares outstanding |
25M | 20M |
| Aug 12, 2022 |
10-Q filing | 25.3M shares outstanding |
25M | 20M |
| May 13, 2022 |
10-Q filing | 25.3M shares outstanding |
25M | 20M |
| Mar 31, 2022 |
10-K filing | 25.3M shares outstanding |
25M | 20M |
| Nov 22, 2021 |
10-Q filing | 25.3M shares outstanding |
25M | 20M |
| Nov 10, 2021 |
8-K filing: Rosecliff Acquisition Corp I entered into a Business Combination Agreement with GT Gettaxi Listco, GT Gettaxi Limited, GT Gettaxi SPV, GT Gettaxi Merger Sub 1, Gett Merger Sub, Inc., and Dooboo Holding Limited, where Rosecliff will combine with the Company in a business combination. ($30.0M proceeds) |
25M | 20M |
| Aug 16, 2021 |
10-Q filing | 25.3M shares outstanding |
25M | 20M |
| Jun 14, 2021 |
10-Q filing | 25.3M shares outstanding |
25M | 20M |
| Feb 24, 2021 |
8-K filing: Rosecliff Acquisition Corp I completed its IPO of 25,300,000 units at $10.00 per Unit, generating gross proceeds of $253,000,000 and completed a private sale of 4,706,667 warrants to Rosecliff Acquisition Sponsor I LLC at $1.50 per warrant, generating gross proceeds of $7,060,000. ($260.06M proceeds) |
5.8M | 20M |
| Feb 17, 2021 |
8-K filing: Rosecliff Acquisition Corp I completed its initial public offering of 25,300,000 units at $10.00 per unit, generating gross proceeds of $253,000,000, and also completed a private sale of 4,706,667 warrants to its sponsor at $1.50 per warrant, generating gross proceeds of $7,060,000. ($260.06M proceeds) |
5.8M | 20M |
| Feb 08, 2021 |
S-1/A filing: Initial public offering of 20,000,000 units at $10.00 per unit, each unit consisting of one share of Class A common stock and one-third of one redeemable warrant. |
5.8M | 20M |
| Jan 27, 2021 |
S-1 filing: Rosecliff Acquisition Corp I is offering 20,000,000 units at $10.00 per unit, with each unit consisting of one share of Class A common stock and one-third of one redeemable warrant; and also offering 4,000,000 private placement warrants at $1.50 per warrant. |
5.8M | 24M |