Nukkleus Inc. (NUKK) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: April 09, 2026

Risk Assessment Details

Potential Dilution: 165.3% of current shares
Recent Dilution: 1125.62% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
38M
Potential Supply
63M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

NUKK currently has 37.8M outstanding shares. with significant dilution risk as 62.5M authorized shares could dilute existing holders by 165.3%. The company has significantly diluted shareholders by 1125.62% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 09, 2026

10-K filing | 37.8M shares outstanding

38M 63M
Dec 17, 2025

S-1 filing: This S-1 filing outlines a proposed resale of up to 13,090,500 shares of common stock by selling stockholders, derived from the conversion of Series A Preferred Stock and the exercise of Common Warrants acquired through a prior private placement.

17M 63M
Dec 17, 2025

S-1 filing: This prospectus relates to the potential offer and sale from time to time of up to 48,000,000 shares of common stock of Nukkleus Inc. by Esousa Group Holdings, LLC.

17M 49M
Nov 28, 2025

8-K filing: SC II closed its IPO of 17,250,000 units at $10.00 per unit, generating gross proceeds of approximately $172,500,000, and SC Capital II Sponsor LLC purchased 255,000 units at $10.00 per unit simultaneously with the IPO closing. ($175.05M proceeds)

17M 610K
Nov 14, 2025

10-Q filing | 16.6M shares outstanding

17M 610K
Sep 16, 2025

8-K filing: Nukkleus Inc. entered into an Amended and Restated Securities Purchase Agreement and Call Option to acquire 100% of Star in consideration of cash, shares, warrants, and promissory notes.

7.1M 610K
Sep 15, 2025

RW filing: Nukkleus Inc. requests the SEC's consent to withdraw its Registration Statement on Form S-1 (File No. 333-284880) as the company has decided not to proceed with the contemplated offering, confirming that no securities were sold under the Registration Statement.

7.1M 610K
Sep 05, 2025

8-K filing: Nukkleus Inc. entered into a Securities Purchase Agreement for a private placement of 200 units, each consisting of Series A Convertible Preferred Stock and Common Stock purchase warrants, for an aggregate purchase price of $10,000,000. ($20.0M proceeds)

7.1M 5M
Aug 29, 2025

8-K filing: Nukkleus Inc. will issue 310,000 restricted shares of its common stock and warrants to purchase 600,000 additional shares to Mandragola Ltd. as part of a Joint Venture Agreement.

7.1M 5M
Aug 14, 2025

10-Q filing | 7.1M shares outstanding

7.1M 5M
Jul 31, 2025

8-K filing: Nukkleus Inc. entered into a warrant agreement with Synthetic Darwin LLC to acquire up to 200 million Darwin tokens, with the Company exercising the initial tranche and receiving 50 million Darwin tokens.

6.2M 5M
Jul 29, 2025

S-1/A filing: This S-1/A filing registers the resale of 4,391,654 shares of common stock by selling stockholders, which includes shares issuable upon the exercise of pre-funded and common warrants from a December 2024 private placement and shares issued in connection with various settlements.

6.2M 5M
Jul 09, 2025

S-1/A filing: This S-1/A filing details Star Twenty Six's agreement to lend ITS Industrial Tecno-logic Solutions Ltd. NIS 10,000,000 in return for 51% of the share capital and an option to purchase the remaining 49% for three years at escalating prices and a corporate history and structure for Star.

6.3M 1.3M
Jun 30, 2025

8-K filing: Nukkleus Inc. had a Senior Unsecured Promissory Note with an associated warrant to purchase 175,000 shares of common stock on a post reverse stock split basis, which was sold to an unaffiliated third party and continues to be obligations of the Company.

5.4M 1.3M
Jun 18, 2025

S-1/A filing: This S-1/A filing registers shares of common stock for sale by selling shareholders relating to a prior private placement, discusses the ongoing planned acquisition of Star, and discusses Star's agreement with Water IO Ltd. and its controlling shareholders, and discusses Star's agreement with ITS and its controlling shareholder.

5.4M 1.3M
May 23, 2025

10-Q filing | 5.7M shares outstanding

5.7M 5M
May 15, 2025

S-1/A filing: This S-1/A filing relates to the disposition of up to 4,391,665 shares of common stock by selling stockholders, including shares issuable upon exercise of pre-funded and common warrants, and shares issued in connection with various settlements.

5.3M 5M
Feb 14, 2025

8-K filing: Nukkleus Inc. entered into an agreement to acquire a controlling interest in Star 26 Capital Inc., involving cash, promissory notes, and the issuance of common stock and warrants.

4.8M 5M
Feb 12, 2025

S-1 filing: This S-1 filing relates to the resale of up to 4,429,165 shares of common stock by selling stockholders, including shares issuable upon exercise of warrants, with the company not receiving proceeds from the stock sale but potentially from warrant exercises.

4.8M 5M
Feb 10, 2025

10-K filing | 4.8M shares outstanding

4.8M 610K
Dec 20, 2024

8-K filing: Nukkleus Inc. completed a private placement of 1,666,666 units at $6.00 per unit, terminated a Standby Equity Purchase Agreement with YA II PN Ltd., and issued 1,337,500 restricted stock grants to executive officers, directors, and consultants. ($10.0M proceeds)

2.1M 610K
Dec 17, 2024

8-K filing: Nukkleus Inc. entered into a Securities Purchase Agreement with Star 26 Capital Inc. to acquire a controlling 51% interest in Star for $15,000,000 in cash and a promissory note, 2,385,170 shares of Nukkleus common stock, and a five-year warrant to purchase 6,907,859 shares of Nukkleus common stock.

2.1M 610K
Nov 22, 2024

8-K filing: Nukkleus Inc. sold 138,556 shares of its common stock at a purchase price of $1.7765 per share to NUKK TRACKER NOTES - CH1108678926 / 23714, series of notes (Series 24) issued by ProETP DAC, for aggregate gross proceeds of $246,145 on November 8, 2024. ($0.25M proceeds)

2.1M 610K
Nov 15, 2024

8-K filing: X Group converted $771,085 of debt into 319,952 shares of common stock at an amended exercise price of $2.41 per share.

2.1M 610K
Nov 12, 2024

8-K filing: Nukkleus Inc. sold shares of common stock, converted debt into common stock and warrants, and issued shares for services, while also amending its bylaws to decrease the quorum requirement for stockholder meetings. ($0.23M proceeds)

2.1M 610K
Oct 24, 2024
Stock Split

8-K filing: Stock split 1-for-8 | Outstanding: 16,791,964 → 2,098,995

2.1M 76K
Sep 11, 2024

10-Q filing | 16.8M shares outstanding

17M 4.8M
Aug 14, 2024

10-Q filing | 16.8M shares outstanding

17M 4.8M
Aug 05, 2024

8-K filing: Nukkleus Inc. issued a Senior Unsecured Promissory Note for $515,500 and a Stock Purchase Warrant to acquire 1,400,000 shares of common stock to East Asia Technology Investments Limited.

15M 4.8M
Jul 30, 2024

10-Q filing | 14.8M shares outstanding

15M 4.8M
Jul 12, 2024

10-K filing | 14.8M shares outstanding

15M 4.8M
Jun 17, 2024

8-K filing: Nukkleus Inc. issued a Senior Unsecured Promissory Note for $312,500 and a Stock Purchase Warrant to acquire 1,200,000 shares of common stock at $0.25 per share to X Group Fund of Funds.

1.9M 4.8M
Nov 20, 2023

10-Q filing | 1.9M shares outstanding

1.9M 4.8M
Aug 18, 2023

10-Q filing | 1.9M shares outstanding

1.9M 4.8M
May 22, 2023

10-Q filing | 1.9M shares outstanding

1.9M 4.8M
Mar 10, 2023

10-K filing | 1.8M shares outstanding

1.8M 4.8M
Nov 14, 2022

10-Q filing | 2.1M shares outstanding

2.1M 4.8M
Aug 18, 2022

10-Q filing | 4.5M shares outstanding

4.5M 4.8M
May 16, 2022

10-Q filing | 5.5M shares outstanding

5.5M 4.8M
Mar 31, 2022

10-K filing | 5.5M shares outstanding

5.5M 4.8M
Nov 19, 2021

10-Q filing | 6.1M shares outstanding

6.1M 4.8M
Oct 13, 2021

10-Q filing | 6.1M shares outstanding

6.1M 4.8M
Oct 13, 2021

10-Q filing | 6.1M shares outstanding

6.1M 4.8M
Oct 13, 2021

10-K filing | 6.1M shares outstanding

6.1M 4.8M
Nov 16, 2020

10-Q filing | 6.1M shares outstanding

6.1M 4.8M
Aug 14, 2020

10-Q filing | 2.0M shares outstanding

2M 4.8M
Jul 02, 2020

8-K filing: Brilliant Acquisition Corporation consummated its initial public offering of 4,000,000 Units at $10.00 per Unit, and closed the underwriters full 600,000 Unit over-allotment option at $10.00 per Unit, generating aggregate gross proceeds of $46,000,000; Simultaneously with the IPO, the Company completed the private sale of 240,000 Units to Nisun Investment Holding Limited, and completed a subsequent private sale of 21,000 Units to the Sponsor. ($48.61M proceeds)

N/A 4.8M
Jun 05, 2020

S-1/A filing: This S-1/A filing describes an offering of units, each comprised of one ordinary share, rights, and a warrant, along with a private placement of units to the sponsor and an over-allotment option for the underwriter.

N/A 4.8M
Mar 13, 2020

S-1 filing: Brilliant Acquisition Corporation is offering 4,000,000 units at $10.00 per unit in an initial public offering, with each unit consisting of one ordinary share and one redeemable warrant; underwriters have an option to purchase up to an additional 600,000 units.

N/A 4M
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