NextPlat Corp (NXPL) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 06, 2026

Risk Assessment Details

Potential Dilution: 1926.65% of current shares
Recent Dilution: 39.82% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
2.7M
Potential Supply
52M
Additional shares possible
Splits
1 Split
Past 2 years

Summary

NXPL currently has 2.7M outstanding shares. with significant dilution risk as 52M authorized shares could dilute existing holders by 1926.6%. The company has significantly diluted shareholders by 39.82% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 06, 2026

S-3 filing: This is an S-3 filing for NextPlat Corp registering up to 2,647,674 shares of common stock for resale by selling securityholders.

2.7M 52M
Apr 13, 2026
Stock Split

8-K filing: Stock split 1-to-10 | Outstanding: 26,535,000 → 2,700,000

2.7M 49M
Mar 31, 2026

10-K filing | 26.5M shares outstanding

27M 490M
Dec 17, 2025

S-3 filing: NextPlat Corp files an S-3 to offer up to $300,000,000 of Common Stock, Preferred Stock, Debt Securities, and Warrants through one or more offerings.

26M 490M
May 15, 2025

10-Q filing | 26.0M shares outstanding

26M 18M
Mar 24, 2025

10-K filing | 26.0M shares outstanding

26M 18M
Nov 14, 2024

10-Q filing | 19.0M shares outstanding

19M 18M
Aug 14, 2024

10-Q filing | 18.8M shares outstanding

19M 18M
May 15, 2024

10-Q filing | 18.7M shares outstanding

19M 18M
Apr 17, 2024

8-K filing: NextPlat Corp entered into a Merger Agreement with Progressive Care Inc, where Progressive Care will merge into a subsidiary of NextPlat, with each share of Progressive Care common stock being converted into shares of NextPlat common stock based on a specified valuation ratio.

17M 18M
Apr 11, 2024

10-K filing | 17.5M shares outstanding

17M 18M
Nov 14, 2023

10-Q filing | 18.7M shares outstanding

19M 18M
Aug 14, 2023

10-Q filing | 18.1M shares outstanding

18M 18M
Jun 21, 2023

S-3 filing: This S-3 filing details several securities purchase agreements and amendments, including a private placement of common stock, the purchase of units consisting of common stock and warrants, debt conversion to common stock with warrants, and an amendment to a debenture purchase agreement.

18M 18M
May 15, 2023

10-Q filing | 18.5M shares outstanding

18M 12M
May 11, 2023

8-K filing: NextPlat Corp entered into a Securities Purchase Agreement with Progressive Care Inc. to purchase units, convert debt to common stock, and amend a previous securities purchase agreement, while also engaging Dawson James Securities, Inc. for a potential business unit spinoff. ($1.0M proceeds)

14M 12M
Apr 06, 2023

8-K filing: NextPlat Corp entered into a securities purchase agreement to sell 3,428,571 shares of common stock at $1.75 per share in a private placement, with gross proceeds of $6.0 million intended for working capital. ($6.0M proceeds)

14M 12M
Mar 31, 2023

10-K filing | 14.4M shares outstanding

14M 12M
Feb 03, 2023

S-3/A filing: The filing relates to the resale of 9,699,909 shares of common stock by selling stockholders.

9.5M 12M
Jan 26, 2023

S-3 filing: NextPlat Corp is offering 9,699,909 shares of common stock for resale by selling stockholders.

9.5M 12M
Dec 13, 2022

8-K filing: NextPlat Corp entered into a securities purchase agreement for the sale of 4,575,429 units, each consisting of one share of common stock and one warrant, at a price of $1.75 per unit, with gross proceeds of approximately $8.0 million, intending to use the proceeds for working capital needs, potential acquisitions, joint ventures, and ongoing business transition activities. ($8.0M proceeds)

9.5M 2.6M
Dec 05, 2022

S-3/A filing: This S-3/A filing describes the authorization and terms for the issuance of Offered Warrants to purchase Debt Securities, Common Stock, or Preferred Stock.

9.5M 2.6M
Nov 21, 2022

S-3 filing: The company may offer common stock, preferred stock, debt securities, warrants, and/or units consisting of some or all of these securities in any combination up to an aggregate offering price of $100,000,000.

9.5M 2.6M
Nov 14, 2022

10-Q filing | 9.5M shares outstanding

9.5M 2.6M
Sep 01, 2022

8-K filing: NextPlat Corp entered into a Securities Purchase Agreement with Progressive Care Inc. to purchase units of securities, and also entered into a Confidential Purchase and Release Agreement with Iliad Research and Trading, L.P. to purchase a Secured Convertible Promissory Note from Progressive Care. ($6.0M proceeds)

9.3M 2.6M
Aug 15, 2022

10-Q filing | 9.3M shares outstanding

9.3M 2.6M
Jun 15, 2022

S-3/A filing: This S-3/A filing discusses risks related to the company's securities, including potential dilution, lack of dividends, and thin trading volume, and describes a convertible promissory note issued in March 2021 that may convert into common stock upon the closing of this offering.

9.2M 2.6M
May 16, 2022

10-Q filing | 9.2M shares outstanding

9.2M 2.6M
Mar 31, 2022

10-K filing | 9.3M shares outstanding

9.3M 2.6M
Mar 22, 2022

S-3/A filing: S-3/A filing for the offering of 2,269,950 shares of Common Stock by the Selling Stockholders of NextPlat Corp.

6.5M 2.6M
Feb 15, 2022

S-3 filing: This is an S-3 filing for the resale of up to 2,269,950 shares of common stock by selling stockholders of NextPlat Corp.

6.5M 2.6M
Jan 05, 2022

8-K filing: Orbsat Corp completed a private placement offering on January 5, 2022, selling 2,229,950 shares of common stock at $3.24 per share, raising approximately $7.2 million in gross proceeds. ($7.2M proceeds)

6.5M 360K
Nov 15, 2021

10-Q filing | 6.5M shares outstanding

6.5M 360K
Aug 17, 2021

10-Q filing | 6.4M shares outstanding

6.4M 360K
May 25, 2021

S-1/A filing: This S-1/A filing describes an offering where the underwriter receives warrants to purchase common stock and has an option to purchase additional shares and/or warrants to cover overallotments.

4.1M 360K
May 17, 2021

10-Q filing | 4.1M shares outstanding

4.1M 160K
May 07, 2021

S-1/A filing: S-1/A filing for an offering including common stock and warrants, with Maxim Group LLC as the sole book-running manager.

120K 160K
Apr 22, 2021

S-1/A filing: This is an S-1/A filing for an offering of common stock and warrants with Maxim Group LLC as the underwriter.

120K 110K
Apr 07, 2021

S-1/A filing: S-1/A filing for offering of common stock and warrants.

120K 110K
Mar 22, 2021

10-K filing | 0.1M shares outstanding

120K 1.7K
Dec 14, 2020

POS AM filing: This filing discusses the issuance of shares, including Series K, J, and L preferred stock, as well as common stock, in connection with anti-dilution obligations and other agreements.

3.6M 1.7K
Dec 14, 2020

S-1/A filing: This S-1/A filing details multiple issuances of preferred stock, including Series K, J and L, as well as common stock, primarily related to anti-dilution obligations and financing agreements.

3.6M 1.7K
Dec 04, 2020

S-1 filing: This S-1 filing outlines an offering of up to 5,641,000 shares of common stock issuable upon conversion of convertible promissory notes by selling stockholders.

3.6M 5.6M
Dec 04, 2020

POS AM filing: This prospectus relates to the resale, from time to time, by the selling stockholders identified in this prospectus under the caption "Selling Stockholders," of up to 4,085,339 shares of our common stock they may acquire upon the conversion of convertible promissory notes issued in a private placement completed on May 13, 2019.

3.6M 5.6M
Nov 16, 2020

10-Q filing | 0.1M shares outstanding

120K 8.1M
Aug 14, 2020

10-Q filing | 0.1M shares outstanding

120K 8.1M
Jul 21, 2020

8-K filing: Orbsat Corp issued 20,000 restricted shares of its common stock to a consultant for capital raising advisory services and business growth and development services, with 5,000 additional restricted shares of common stock to be issued quarterly until the consultant may receive cash compensation for its services.

120K 8.1M
Jun 19, 2020

8-K filing: Orbsat Corp amended the terms of its convertible promissory notes, changing the conversion price from $0.10 to $0.20 per share and modifying the beneficial ownership limitation from 4.99% to 9.99%.

120K 8.1M
May 15, 2020

10-Q filing | 0.1M shares outstanding

120K 8.1M
Mar 30, 2020

10-K filing | 0.1M shares outstanding

120K 8.1M
Jan 24, 2020

S-1/A filing: This S-1/A filing relates to the offering of up to 8,050,000 shares of common stock issuable upon conversion of convertible promissory notes by selling stockholders.

120K 8.1M
Jan 16, 2020

S-1 filing: This S-1 filing relates to the offering of common stock issuable upon conversion of convertible promissory notes by selling stockholders. The company will not receive any proceeds from the sale of shares.

120K 8.1M
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