P3 Health Partners Inc. (PIII) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: March 26, 2026

Risk Assessment Details

Potential Dilution: 99.83% of current shares
Recent Dilution: 300.05% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
3.3M
Potential Supply
3.3M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

PIII currently has 3.27M outstanding shares. with significant dilution risk as 3.26M authorized shares could dilute existing holders by 99.8%. The company has significantly diluted shareholders by 300.05% 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
Mar 26, 2026

10-K filing | 3.3M shares outstanding

3.3M 3.3M
Aug 14, 2025

10-Q filing | 3.3M shares outstanding

3.3M 3.3M
Jun 03, 2025

8-K filing: P3 Health Group, LLC, a subsidiary of P3 Health Partners Inc., entered into a financing transaction with VBC Growth SPV 5, LLC, consisting of an unsecured promissory note for up to $70.0 million and warrants to purchase 1,430,281 shares of Class A Common Stock at an exercise price of $7.39 per share.

3.3M 3.3M
May 15, 2025

10-Q filing | 3.3M shares outstanding

3.3M 3.3M
Apr 11, 2025
Stock Split

8-K filing: Stock split 1-for-50 | Outstanding: 146,998,000 → 2,939,960

2.9M 65K
Mar 28, 2025

10-K filing | 147.0M shares outstanding

150M 160M
Feb 18, 2025

8-K filing: P3 Health Group, LLC, a subsidiary of P3 Health Partners Inc., entered into a financing transaction with VBC Growth SPV 4, LLC, consisting of an unsecured promissory note and warrants to purchase 71,406,480 shares of Class A Common Stock at an exercise price of $0.2068 per share, pending stockholder approval.

160M 160M
Dec 17, 2024

8-K filing: P3 Health Group, LLC, a subsidiary of P3 Health Partners Inc., entered into a financing transaction with VBC Growth SPV 3, LLC, consisting of an unsecured promissory note and warrants to purchase 71,406,480 shares of Class A Common Stock at an exercise price of $0.2137 per share.

160M 160M
Nov 12, 2024

10-Q filing | 161.9M shares outstanding

160M 160M
Aug 07, 2024

10-Q filing | 161.8M shares outstanding

160M 160M
Jun 18, 2024

S-3 filing: This is an S-3 filing for the resale of up to 134,768,734 shares of Class A Common Stock by selling stockholders, including shares presently issued and outstanding, shares issuable upon exercise of common warrants, and shares issuable upon exercise of pre-funded warrants.

42M 160M
May 24, 2024

8-K filing: P3 Health Partners Inc. issued approximately 67.4 million units at a price of approximately $0.6270 per unit, with each unit consisting of one share of Class A Common Stock and a warrant to purchase one share of Common Stock at an exercise price of $0.5020, for aggregate gross proceeds of approximately $42.2 million. ($84.4M proceeds)

120M 28M
May 23, 2024

8-K filing: P3 Health Partners Inc. entered into a Securities Purchase Agreement to issue approximately 67.4 million units at $0.6270 per unit, with each unit consisting of one share of Class A Common Stock and a warrant to purchase one share of Common Stock at an exercise price of $0.5020, resulting in aggregate gross proceeds of approximately $42.2 million. ($42.2M proceeds)

120M 28M
May 08, 2024

10-Q filing | 118.9M shares outstanding

120M 28M
Mar 28, 2024

10-K filing | 119.3M shares outstanding

120M 28M
Nov 09, 2023

S-3 filing: P3 Health Partners Inc. is offering up to $250,000,000 in the aggregate of Class A Common Stock, Preferred Stock, and Debt Securities from time to time in one or more offerings. A portion of the offering includes shares of Class A common stock having an aggregate offering price of up to $75,000,000 via an "at the market offering" through agent Jefferies to fund continued growth and for general corporate purposes.

110M 28M
Nov 09, 2023

POS AM filing: This is a POS AM filing for the resale of up to 136,685,830 shares of Class A Common Stock by selling stockholders.

66M 28M
Nov 09, 2023

POS AM filing: This is a POS AM filing for the resale of Class A Common Stock and Warrants, as well as the issuance of Class A Common Stock upon warrant exercise.

110M 28M
Nov 08, 2023

10-Q filing | 114.2M shares outstanding

110M 170M
Aug 07, 2023

10-Q filing | 107.5M shares outstanding

110M 170M
May 17, 2023

POS AM filing: This prospectus relates to the resale of shares of Class A Common Stock and warrants by selling securityholders, as well as the issuance of shares upon exercise of warrants.

110M 170M
May 17, 2023

S-1/A filing: This prospectus relates to the proposed resale or other disposition by the Selling Stockholders of up to an aggregate of 139,847,114 shares of Class A Common Stock.

69M 170M
May 10, 2023

10-Q filing | 110.7M shares outstanding

110M 170M
May 02, 2023

S-1 filing: This S-1 filing relates to the proposed resale of up to 139,847,114 shares of Class A Common Stock by Selling Stockholders.

69M 170M
May 02, 2023

POS AM filing: This prospectus relates to the resale of shares of Class A Common Stock and warrants by selling securityholders and the issuance of shares of Class A Common Stock upon exercise of warrants.

42M 170M
Apr 07, 2023

8-K filing: P3 Health Partners Inc. issued 69,157,145 shares of Class A Common Stock, warrants to purchase 59,934,479 shares of Common Stock, and pre-funded warrants to purchase 10,755,490 shares of Common Stock in a private placement for aggregate gross proceeds of approximately $89.5 million. ($89.5M proceeds)

42M 28M
Mar 31, 2023

8-K filing: P3 Health Partners Inc. entered into a Securities Purchase Agreement to issue approximately 69.2 million shares of Class A Common Stock, warrants to purchase approximately 59.9 million shares, and pre-funded warrants to purchase approximately 10.8 million shares for aggregate gross proceeds of approximately $89.5 million. ($0.0M proceeds)

42M 28M
Mar 31, 2023

10-K filing | 41.6M shares outstanding

42M 28M
Dec 13, 2022

8-K filing: P3 Health Partners, LLC, a subsidiary of P3 Health Partners Inc., entered into a financing transaction with VBC Growth SPV LLC, consisting of an unsecured promissory note and warrants to purchase shares of Class A Common Stock.

42M 28M
Nov 14, 2022

10-Q filing | 41.6M shares outstanding

42M 28M
Nov 07, 2022

POS AM filing: This prospectus relates to the resale of shares of Class A Common Stock and warrants by selling securityholders and the issuance of shares of Class A Common Stock upon exercise of warrants.

42M 28M
Oct 21, 2022

10-K filing | 41.6M shares outstanding

42M 280M
Oct 21, 2022

10-Q filing | 41.6M shares outstanding

42M 280M
Oct 21, 2022

10-Q filing | 41.6M shares outstanding

42M 280M
Dec 28, 2021

S-1 filing: This S-1 filing relates to the resale of shares of Class A common stock and warrants by selling securityholders, as well as the issuance of shares upon exercise of warrants.

40M 280M
Nov 18, 2021

10-Q filing | 40.4M shares outstanding

40M 28M
Aug 20, 2021

10-Q filing | 32.5M shares outstanding

32M 28M
May 25, 2021

10-Q filing | 1.8M shares outstanding

1.8M 28M
Feb 05, 2021

S-1/A filing: Initial public offering of 27,500,000 units at $10.00 per unit, each unit consisting of one share of Class A common stock and one-third of one redeemable warrant.

7.9M 28M
Feb 02, 2021

S-1/A filing: Foresight Acquisition Corp. is offering 27,500,000 units at $10.00 per unit, each consisting of one share of Class A common stock and one-third of one redeemable warrant, in an initial public offering.

7.9M 28M
Jan 08, 2021

S-1 filing: Foresight Acquisition Corp. is offering 27,500,000 units at $10.00 per unit in an initial public offering. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. The underwriters have a 45-day option to purchase up to an additional 4,125,000 units.

7.9M 32M
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