SBC Medical Group Holdings Inc (SBC) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 13.85% of current shares
Recent Dilution: 1732.32% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
100M
Potential Supply
14M
Additional shares possible
Splits
None
Past 2 years

Summary

SBC currently has 103M outstanding shares. with limited dilution risk as only 14.2M additional shares (13.8%) are authorized for issuance. The company has significantly diluted shareholders by 1732.32% 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 | 102.6M shares outstanding

100M 14M
Dec 29, 2025

S-3 filing: This S-3 filing by SBC Medical Group Holdings Incorporated registers up to $50,000,000 of common stock and preferred stock, the issuance of up to 12,134,375 shares of common stock underlying warrants, and the potential resale of 98,796,461 shares of common stock and 634,375 private placement warrants by selling securityholders.

100M 14M
Dec 15, 2025

8-K filing: SBC Medical Group Co., Ltd. purchased 575,052 shares of Waqoo, Inc. through a tender offer at ¥1,900 per share, increasing its ownership ratio of Waqoo's voting rights to over 50% after an additional off-market transaction.

100M 0
Nov 14, 2025

10-Q filing | 102.6M shares outstanding

100M 0
Nov 13, 2025

8-K filing: SBC Medical Group Co., Ltd., a subsidiary of SBC Medical Group Holdings Incorporated, will commence a tender offer for up to 575,000 shares of Waqoo, Inc.'s common stock and acquire 989,802 shares from Dr. Yoshiyuki Aikawa, aiming to make Waqoo a consolidated subsidiary.

100M 0
Aug 13, 2025

10-Q filing | 103.5M shares outstanding

100M 0
Jul 22, 2025

POS AM filing: The filing registers (i) the issuance of up to 12,134,375 shares of common stock upon exercise of warrants, and (ii) the resale of 7,898,520 shares of common stock by selling securityholders, and (iii) registering 634,375 Private Placement Warrants to be offered from time to time by certain Selling Securityholders.

100M 0
May 15, 2025

10-Q filing | 103.3M shares outstanding

100M 0
Mar 28, 2025

10-K filing | 96.6M shares outstanding

97M 0
Nov 13, 2024

10-Q filing | 95.1M shares outstanding

95M 0
Oct 08, 2024

S-1 filing: This prospectus relates to the issuance of up to 12,134,375 shares of our common stock upon exercise of warrants and resale of 9,350,846 shares of Common Stock and 634,375 Private Placement Warrants by selling securityholders.

5.2M 22M
Aug 16, 2024

10-Q filing | 5.2M shares outstanding

5.2M 0
Aug 12, 2024

8-K filing: Pono Capital Two, Inc. entered into Amendment No. 2 to the Non-Redemption Agreement to extend the Clearance Date to September 10, 2024, and to agree to close the business combination on or before September 16, 2024.

5.3M 0
May 20, 2024

10-Q filing | 5.3M shares outstanding

5.3M 0
Mar 19, 2024

10-K filing | 5.2M shares outstanding

5.2M 0
Jan 18, 2024

8-K filing: Pono Capital Two, Inc. entered into a non-redemption agreement with an unaffiliated investor who agreed to acquire 1,500,000 to 1,700,000 shares of Class A common stock in the open market and waive redemption rights, in exchange for incentive shares upon closing of the business combination with SBC Medical Group Holdings Incorporated.

5.5M 0
Nov 14, 2023

10-Q filing | 5.5M shares outstanding

5.5M 0
Aug 14, 2023

10-Q filing | 5.5M shares outstanding

5.5M 0
May 19, 2023

8-K filing: Pono Capital Two, Inc. entered into a Note Purchase Agreement with SBC Medical Group Holdings Incorporated, where Pono will issue a convertible promissory note of $1,000,000 to SBC, convertible into shares of Class A Common Stock at $10.00 per share, subject to adjustments for stock splits. ($1.0M proceeds)

5.5M 0
May 15, 2023

10-Q filing | 5.5M shares outstanding

5.5M 0
May 09, 2023

8-K filing: Pono Capital Two, Inc. entered into non-redemption agreements with certain unaffiliated stockholders and an additional non-redemption agreement with an unaffiliated stockholder, where the Sponsor agreed to transfer shares of common stock upon consummation of the Company's initial business combination.

12M 0
May 04, 2023

8-K filing: Pono Capital Two, Inc. entered into non-redemption agreements with certain unaffiliated stockholders owning 773,682 shares of Class A common stock, where the stockholders agreed not to redeem their shares in connection with the Extension Amendment and the company's sponsor, agreed to transfer to the stockholders shares of common stock of the Company upon the consummation of the Company's initial business combination.

12M 0
Mar 09, 2023

10-K filing | 12.2M shares outstanding

12M 0
Feb 02, 2023

8-K filing: Pono Capital Two, Inc. entered into a Merger Agreement with SBC Medical Group Holdings Incorporated, where Pono will acquire SBC in a business combination.

12M 0
Nov 14, 2022

10-Q filing | 12.2M shares outstanding

12M 0
Sep 23, 2022

8-K filing: Pono Capital Two, Inc. completed its initial public offering of 11,500,000 units at $10.00 per Unit, generating gross proceeds of $115,000,000, and announced that the holders of the Units may elect to separately trade the shares of Class A Common Stock and the Warrants comprising the Units commencing on September 26, 2022. ($115.0M proceeds)

12M 0
Sep 09, 2022

10-Q filing | 12.2M shares outstanding

12M 0
Aug 17, 2022

8-K filing: Pono Capital Two, Inc. completed its initial public offering of 11,500,000 units at $10.00 per unit, generating gross proceeds of $115,000,000, and simultaneously completed a private placement of 634,375 units at $10.00 per unit, generating gross proceeds of $6,343,750. ($121.34M proceeds)

2.9M 0
Aug 09, 2022

8-K filing: Pono Capital Two, Inc. completed an initial public offering of 11,500,000 units at $10.00 per unit and a private placement of 634,375 units to the Sponsor at $10.00 per unit, and filed its Third Amended and Restated Certificate of Incorporation. ($121.34M proceeds)

2.9M 20M
Jul 25, 2022

S-1/A filing: The company is offering 10,000,000 units, each consisting of one share of Class A common stock and one warrant, at an offering price of $10.00 per unit.

2.9M 20M
Jul 22, 2022

S-1/A filing: Pono Capital Two, Inc. is offering 10,000,000 units, each consisting of one share of Class A common stock and one redeemable warrant, at a price of $10.00 per unit, in an initial public offering.

2.9M 10M
Jun 14, 2022

S-1 filing: Pono Capital Two, Inc. is offering 10,000,000 units, each consisting of one share of Class A common stock and one-half of one redeemable warrant, at a price of $10.00 per unit.

N/A 11M
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