Neuraxis, INC (NRXS) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 12, 2026

Risk Assessment Details

Potential Dilution: 160.36% of current shares
Recent Dilution: 70.58% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
12M
Potential Supply
20M
Additional shares possible
Splits
None
Past 2 years

Summary

NRXS currently has 12.4M outstanding shares. with significant dilution risk as 19.9M authorized shares could dilute existing holders by 160.4%. The company has significantly diluted shareholders by 70.58% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 12, 2026

10-Q filing | 12.4M shares outstanding

12M 20M
Apr 22, 2026

8-K filing: From August 29, 2025 through April 20, 2026, the Company sold 1,125,281 shares of Common Stock pursuant to the At The Market Offering Agreement.

11M 20M
Mar 19, 2026

10-K filing | 11.2M shares outstanding

11M 20M
Aug 12, 2025

10-Q filing | 9.9M shares outstanding

9.9M 20M
May 22, 2025

8-K filing: Neuraxis, Inc. entered into a securities purchase agreement to sell 1,538,461 shares of common stock at $3.25 per share, with gross proceeds expected to be approximately $5.0 million. ($5.0M proceeds)

7.5M 20M
May 21, 2025

8-K filing: The company entered into a settlement agreement and issued shares through warrant exercises and preferred stock conversions. ($1.0M proceeds)

7.5M 20M
May 12, 2025

10-Q filing | 7.5M shares outstanding

7.5M 20M
Mar 20, 2025

10-K filing | 6.9M shares outstanding

6.9M 20M
Feb 05, 2025

S-3/A filing: The filing is an S-3/A registration statement for the offering of common stock and preferred stock by the company and common stock by selling stockholders, with an aggregate offering price not to exceed $25,000,000.

7.2M 20M
Dec 13, 2024

S-3 filing: The filing is an S-3 registration statement covering common stock and preferred stock offered by the company and selling stockholders, with an aggregate offering price not to exceed $25,000,000.

7M 17M
Nov 15, 2024

8-K filing: Neuraxis, Inc. issued 2,100,840 shares of Series B Convertible Preferred Stock to three related investors for approximately $5 million, with the transaction closing on November 13, 2024. ($5.0M proceeds)

7.2M 1.2M
Nov 12, 2024

10-Q filing | 7.2M shares outstanding

7.2M 1.2M
Oct 18, 2024

8-K filing: Neuraxis, Inc. entered into the fourth amendment to the Flagstaff SPA to change the investment amount from $5 million to $1.8 million for an additional 420,168 shares of Series B Preferred Stock, and entered into securities purchase agreements with investors for the issuance and purchase of 60,924 shares of Series B Preferred Stock for $145,000. ($0.15M proceeds)

6.9M 1.2M
Sep 13, 2024

8-K filing: On September 9, 2024, $4,935,001.90 of principal owed pursuant to the Preferred Stock Notes was automatically converted into a total of 2,073,524 shares of Preferred Stock.

6.9M 1.2M
Aug 09, 2024

10-Q filing | 6.9M shares outstanding

6.9M 1.2M
May 20, 2024

10-Q filing | 6.6M shares outstanding

6.6M 1.2M
Apr 16, 2024

10-K filing | 6.6M shares outstanding

6.6M 1.2M
Nov 20, 2023

10-Q filing | 5.3M shares outstanding

5.3M 1.2M
Sep 22, 2023

10-Q filing | 5.0M shares outstanding

5M 1.2M
Jul 28, 2023

S-1/A filing: This S-1/A filing relates to a proposed offering of common stock with an estimated public offering price of $6.00 per share, along with shares offered by selling stockholders, and details the company's business, risks, and financial condition.

2M 1.2M
Jul 21, 2023

S-1/A filing: This S-1/A filing outlines a proposed offering of 1,166,667 shares of common stock at an estimated price of $6.00 per share, along with an overview of Neuraxis, Inc.'s business, financial condition, and risk factors.

2M 1.2M
Jun 29, 2023

S-1/A filing: This S-1/A filing relates to a company offering shares of common stock to the public.

2M 940K
Jun 01, 2023

S-1/A filing: This S-1/A filing describes an offering of common stock, potential over-allotment, underwriter warrants, and the potential for selling stockholders to offer shares.

2M 350K
Feb 13, 2023

S-1/A filing: This S-1/A filing describes an offering of 1,875,000 Units, each consisting of one share of common stock and one warrant to purchase one share of common stock, at an estimated public offering price of $8.00 per Unit, as well as Underwriter's Warrants to purchase a number of shares of common stock equal in the aggregate to six percent (6%) of the total number of Units issued in this offering.

2M 2M
Feb 13, 2023

S-1/A filing: This S-1/A filing outlines a proposed offering of units consisting of common stock and warrants, as well as common stock offered by selling stockholders, with the proceeds intended for sales and marketing, research and development, and debt repayment.

2M 2M
Feb 06, 2023

S-1/A filing: This S-1/A filing relates to a proposed offering of 1,875,000 shares of common stock, with an over-allotment option for the underwriter to purchase an additional 281,250 shares. The company intends to use the net proceeds for sales and marketing, research and development, repayment of convertible notes, payments to executive officers, and general corporate purposes.

2M 2M
Jan 26, 2023

S-1/A filing: The company is filing an S-1/A to offer 1,875,000 shares of common stock to the public at an estimated price between $7.00 and $9.00 and is offering the underwriter warrants to purchase common stock.

2M 2M
Jan 10, 2023

S-1 filing: This S-1 filing outlines a proposed offering of common stock and Underwriter's Warrants, with the intention to list on the Nasdaq Capital Market under the symbol "NRXS," with proceeds intended for sales and marketing, research and development, repayment of convertible notes, and general corporate purposes.

3.9M 0
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