Scienjoy Holding Corp (SJ) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: April 23, 2026

Risk Assessment Details

Potential Dilution: 24.35% of current shares
Recent Dilution: 28.7% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
41M
Potential Supply
9.9M
Additional shares possible
Splits
None
Past 2 years

Summary

SJ currently has 40.6M outstanding shares. with moderate dilution risk from 9.9M authorized shares representing 24.3% potential dilution. The company has significantly diluted shareholders by 28.7% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 23, 2026

20-F filing | 40.6M shares outstanding

41M 9.9M
Apr 22, 2025

20-F filing | 39.3M shares outstanding

39M 11M
Jul 01, 2024

F-3 filing: This F-3 filing describes a shelf offering of Class A ordinary shares by selling shareholders and a shelf offering of various securities including Class A ordinary shares, preferred shares, and debt securities by Scienjoy Holding Corporation.

31M 19M
Apr 26, 2024

20-F filing | 38.1M shares outstanding

38M 940K
Sep 08, 2023

F-1 filing: This F-1 filing registers the issuance of Class A Ordinary Shares upon exercise of existing warrants and the resale of Class A Ordinary Shares and Oriental Warrants by selling securityholders.

38M 940K
May 10, 2023

F-3 filing: This F-3 filing relates to the offer and sale by selling securityholders of up to 995,118 Class A ordinary shares of Scienjoy Holding Corporation.

38M 0
Apr 28, 2023

20-F filing | 36.7M shares outstanding

37M 0
May 16, 2022

20-F filing | 28.2M shares outstanding

28M 0
Oct 01, 2021

F-3 filing: The filing relates to a shelf offering of ordinary shares, Class A preferred shares, debt securities, warrants, rights, and units, or any combination thereof, up to US$250,000,000 and an offering of 4,492,650 ordinary shares by selling shareholders.

31M 0
Jun 02, 2021

F-3 filing: The filing registers the resale of up to 15,278,513 Ordinary Shares by selling securityholders Lavacano Holdings Limited and Cosmic Soar Limited.

27M 0
Jun 02, 2021

POS AM filing: The company is registering the issuance of ordinary shares upon exercise of public, oriental, and chardan warrants and the resale of ordinary shares and oriental warrants by selling securityholders.

31M 0
Jun 02, 2021

POS AM filing: The filing registers the issuance and resale of up to 713,444 Ordinary Shares to White Lion Capital, with White Lion Capital having the right to purchase up to $30,000,000 in Ordinary Shares under a Purchase Agreement.

31M 0
May 03, 2021

POS AM filing: The filing registers the issuance of 2,875,000 ordinary shares upon exercise of public warrants, with the company potentially receiving up to $33 million from warrant exercises for general corporate purposes.

31M 0
May 03, 2021

POS AM filing: The filing registers the issuance and resale of up to 713,444 Ordinary Shares by the company to White Lion Capital pursuant to a Purchase Agreement, with a total commitment amount of up to $30,000,000.

31M 0
May 03, 2021

20-F filing | 27.0M shares outstanding

27M 0
Mar 29, 2021

F-1 filing: The filing registers the issuance of ordinary shares upon exercise of warrants and the resale of ordinary shares and warrants by selling securityholders.

31M 0
Feb 23, 2021

F-1 filing: The filing registers the issuance of 713,444 Ordinary Shares to White Lion Capital under a Purchase Agreement, allowing for up to $30,000,000 in Ordinary Shares to be purchased over six months.

27M 0
Aug 05, 2020

F-3 filing: The filing registers the issuance of Ordinary Shares upon exercise of warrants and resale of Ordinary Shares and Oriental Warrants by selling securityholders.

23M 2.6M
May 06, 2020

10-Q filing | 2.5M shares outstanding

2.5M 0
Mar 20, 2020

10-K filing | 2.5M shares outstanding

2.5M 0
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