Rumble Inc. (RUM) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 67.68% of current shares
Recent Dilution: 78.68% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
220M
Potential Supply
150M
Additional shares possible
Splits
None
Past 2 years

Summary

RUM currently has 216M outstanding shares. with significant dilution risk as 146M authorized shares could dilute existing holders by 67.7%. The company has significantly diluted shareholders by 78.68% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 14, 2026

10-Q filing | 216.4M shares outstanding

220M 150M
Nov 10, 2025

8-K filing: Rumble Inc. will issue 2.0281 shares of Class A common stock for each share of Northern Data AG as part of a business combination agreement, and Tether will sell 41,887,776 ND Shares to Rumble in exchange for Rumble shares or a pre-funded warrant.

220M 150M
Nov 10, 2025

10-Q filing | 215.4M shares outstanding

220M 150M
Aug 11, 2025

10-Q filing | 215.2M shares outstanding

220M 150M
May 08, 2025

10-Q filing | 214.9M shares outstanding

210M 150M
Mar 26, 2025

S-3/A filing: Rumble Inc. is offering 103,333,333 shares of Class A common stock for resale by a selling shareholder, Tether Investments S.A. de C.V., to satisfy obligations under a registration rights agreement.

200M 150M
Mar 26, 2025

POS AM filing: This prospectus relates to (a) the issuance by us of up to 8,050,000 shares of our common stock upon the exercise of warrants and (b) the resale from time to time by the selling securityholders named in this prospectus of (i) up to 333,568,989 shares of Class A Common Stock and (ii) 550,000 Warrants.

200M 150M
Mar 25, 2025

10-K filing | 204.1M shares outstanding

200M 150M
Feb 21, 2025

S-3 filing: Rumble Inc. is registering the offer and sale of 103,333,333 shares of its Class A common stock to satisfy obligations pursuant to a registration rights agreement with Tether Investments S.A. de C.V.

120M 150M
Dec 23, 2024

8-K filing: Rumble Inc. entered into a Transaction Agreement with Tether Investments Limited, involving a strategic investment of $775 million through the issuance of 103,333,333 newly issued shares of Class A Common Stock at a price of $7.50 per share. ($775.0M proceeds)

120M 43M
Nov 12, 2024

10-Q filing | 118.6M shares outstanding

120M 43M
Oct 18, 2024

S-3 filing: Rumble Inc. is offering up to $300,000,000 aggregate dollar amount of shares of its Class A common stock, preferred stock, debt securities, warrants to purchase our Class A Common Stock, preferred stock or debt securities, subscription rights to purchase our Class A Common Stock, preferred stock or debt securities and/or units consisting of some or all of these securities.

120M 43M
Aug 12, 2024

10-Q filing | 118.1M shares outstanding

120M 43M
May 21, 2024

POS AM filing: This POS AM filing includes the offering of Class A Common Stock and Warrants by Rumble Inc. and selling holders. It details the number of shares and warrants offered, the exercise price of the warrants, and the shares outstanding as of December 31, 2023.

280M 43M
May 14, 2024

10-Q filing | 116.9M shares outstanding

120M 43M
Mar 27, 2024

10-K filing | 115.1M shares outstanding

120M 43M
Nov 13, 2023

10-Q filing | 112.7M shares outstanding

110M 43M
Aug 14, 2023

10-Q filing | 112.5M shares outstanding

110M 43M
May 15, 2023

10-Q filing | 111.5M shares outstanding

110M 43M
Apr 14, 2023

POS AM filing: This POS AM filing includes shares of Class A Common Stock offered by the company and selling holders, as well as warrants offered by selling holders, with an exercise price of $11.50 per share; it also includes 280,229,977 outstanding shares of Class A Common Stock.

280M 43M
Mar 30, 2023

10-K filing | 111.5M shares outstanding

110M 390M
Nov 14, 2022

10-Q filing | 111.5M shares outstanding

110M 390M
Nov 04, 2022

S-1/A filing: This S-1/A filing from Rumble Inc. includes shares of Class A Common Stock offered by the company issuable upon the exercise of warrants, shares of Class A Common Stock offered by selling holders, and warrants offered by selling holders.

280M 390M
Oct 19, 2022

S-1 filing: This S-1 filing includes an offering of Class A Common Stock and Warrants by the company and selling holders. It details the shares offered, exercise prices, and shares outstanding as of September 16, 2022.

280M 390M
Oct 19, 2022

S-1/A filing: Rumble Inc. is offering shares of Class A Common Stock issuable upon the exercise of warrants, shares of Class A Common Stock for selling holders, and warrants for selling holders.

280M 390M
Sep 22, 2022

8-K filing: CF VI consummated the sale and issuance of 1,875,000 shares of Class A Common Stock and 375,000 Warrants to the Sponsor for $15.0 million pursuant to a Forward Purchase Contract, and issued 8,300,000 shares of Class A Common Stock for $83,000,000 in a PIPE Investment. ($113.0M proceeds)

30M 43M
Sep 16, 2022

8-K filing: Rumble completed its business combination on September 16, 2022, with its Class A common stock and warrants expected to commence trading on Nasdaq under the symbols "RUM" and "RUMBW," respectively. In connection with the business combination, 30,689 shares of Class A Common Stock were redeemed.

30M 43M
Aug 15, 2022

10-Q filing | 30.0M shares outstanding

30M 43M
May 16, 2022

10-Q filing | 30.0M shares outstanding

30M 43M
Mar 24, 2022

10-K filing | 30.7M shares outstanding

31M 43M
Dec 02, 2021

8-K filing: CF Acquisition Corp. VI and Rumble Inc. entered into a Business Combination Agreement, with related issuances of common stock and exchange of options and warrants, and a PIPE investment of $85 million through the sale of Class A Common Stock. ($96.0M proceeds)

31M 43M
Nov 15, 2021

10-Q filing | 30.7M shares outstanding

31M 43M
Aug 12, 2021

10-Q filing | 30.7M shares outstanding

31M 43M
May 14, 2021

10-Q filing | 30.7M shares outstanding

31M 43M
Feb 24, 2021

8-K filing: On February 23, 2021, 1,125,000 shares of Class B common stock were forfeited by the Sponsor and cancelled by the Company because the underwriters in the IPO informed the Company that they would not exercise the over-allotment option.

N/A 43M
Feb 12, 2021

S-1/A filing: The filing relates to the initial public offering of units of CF Acquisition Corp. VI, each unit consisting of one share of Class A common stock and one-fourth of one redeemable warrant, and also to offer and sales of units in connection with certain market making transactions.

N/A 43M
Feb 03, 2021

S-1/A filing: This S-1/A filing describes a business combination and the issuance of Founder Shares, Private Placement Units, and securities in a Public Offering.

N/A 700K
Jan 29, 2021

S-1 filing: This S-1 filing registers shares of Class A common stock and redeemable warrants as part of units for an initial public offering.

N/A 43M
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