SolarMax Technology, Inc. (SMXT) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
SMXT currently has 56.9M outstanding shares. with limited dilution risk as only 4.86M additional shares (8.5%) are authorized for issuance. The company has significantly diluted shareholders by 30.7% over the past 2 years, indicating aggressive capital raising.
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| Apr 06, 2026 |
10-K filing | 56.9M shares outstanding |
57M | 4.9M |
| Nov 14, 2025 |
10-Q filing | 52.7M shares outstanding |
53M | 4.9M |
| Nov 05, 2025 |
8-K filing: The Company's board of directors approved the issuance of an aggregate of 5,712,402 shares of common stock pursuant to stock purchase agreements with five investors at prices per share ranging from $0.74 to $0.83, resulting in proceeds of $4,380,000, which are being used for working capital. ($4.38M proceeds) |
54M | 4.9M |
| Aug 14, 2025 |
10-Q filing | 54.3M shares outstanding |
54M | 4.9M |
| May 16, 2025 |
10-Q filing | 44.4M shares outstanding |
44M | 4.9M |
| Mar 31, 2025 |
10-K filing | 44.3M shares outstanding |
44M | 4.9M |
| Nov 14, 2024 |
10-Q filing | 45.2M shares outstanding |
45M | 4.9M |
| Aug 14, 2024 |
10-Q filing | 45.0M shares outstanding |
45M | 4.9M |
| May 15, 2024 |
10-Q filing | 41.5M shares outstanding |
41M | 4.9M |
| Apr 16, 2024 |
10-K filing | 39.7M shares outstanding |
40M | 4.9M |
| Mar 05, 2024 |
8-K filing: Underwriters purchased 539,950 shares of common stock upon the partial exercise of their over-allotment option at $4.00 per share, resulting in gross proceeds of approximately $20 million. The Company issued warrants to purchase 43,196 shares of common stock at an exercise price of $4.80 per share to Kingswood. ($2.16M proceeds) |
40M | 4.9M |
| Feb 29, 2024 |
8-K filing: SolarMax Technology, Inc. completed a public offering of 4,500,000 shares of common stock at a price of $4.00 per share, resulting in gross proceeds of $18 million before deductions. Underwriters also received a warrant to purchase 360,000 shares. ($18.0M proceeds) |
40M | 4.9M |
| Feb 09, 2024 |
S-1/A filing: This is the initial public offering of 4,500,000 shares of common stock of SolarMax Technology, Inc. on a firm commitment basis. |
40M | 4.9M |
| Dec 04, 2023 |
S-1/A filing: This is the initial public offering of 4,500,000 shares of common stock of SolarMax Technology, Inc. on a firm commitment basis. |
40M | 5.5M |
| Sep 11, 2023 |
S-1/A filing: This is the initial public offering of 4,500,000 shares of common stock of SolarMax Technology, Inc. on a firm commitment basis. |
40M | 5.5M |
| Aug 07, 2023 |
S-1/A filing: This is the initial public offering of 4,500,000 shares of common stock of SolarMax Technology, Inc. on a firm commitment basis with an expected price of $4.00 per share. |
40M | 4.9M |
| Jul 07, 2023 |
S-1/A filing: This is the initial public offering of 4,500,000 shares of common stock of SolarMax Technology, Inc. on a firm commitment basis. |
40M | 4.9M |
| May 02, 2023 |
S-1/A filing: This is the initial public offering of 7,500,000 shares of common stock of SolarMax Technology, Inc. on a firm commitment basis. |
40M | 8.1M |
| Jan 20, 2023 |
S-1/A filing: This S-1/A filing details a proposed offering of 7,500,000 shares of common stock at an assumed initial public offering price of $4.00 per share. The company intends to use the net proceeds of this offering, estimated at approximately $27.1 million, for working capital, including payment of accrued liabilities, which include obligations to related parties, and other corporate purposes. |
40M | 8.1M |
| Dec 23, 2022 |
S-1/A filing: The company is filing an S-1/A form for a common stock offering, with a proposed offering of 7,500,000 shares at an assumed price of $4.00 per share. The company also granted the underwriters an option, exercisable for 45 days from the date of this prospectus, to purchase up to an additional 1,125,000 shares of our common stock at the initial public offering price, less the underwriting discounts and commissions, to cover over-allotments |
40M | 8.1M |
| Oct 28, 2022 |
S-1/A filing: The company is offering 7,500,000 shares of common stock at an assumed initial public offering price of $4.00 per share. They also plan to issue warrants to purchase up to 600,000 shares of common stock to ViewTrade Securities, Inc. |
40M | 8.1M |
| Aug 12, 2022 |
S-1/A filing: The filing is an S-1/A form for an initial public offering of common stock, with an assumed price of $4.00 per share. The company plans to use the net proceeds of approximately $28,200,000 for working capital and other corporate purposes. |
40M | 9.2M |
| Jul 19, 2022 |
S-1 filing: This S-1 filing outlines an initial public offering of common stock. The company intends to list its common stock on the NASDAQ Capital Market under the symbol "SMXT" and plans to use the net proceeds of approximately $28,200,000 for working capital and other corporate purposes. |
40M | 8.1M |
| Oct 28, 2020 |
RW filing: SolarMax Technology, Inc. has withdrawn its registration statement following a merger agreement with Alberton Acquisition Corporation. The company confirms that no securities have been issued or sold pursuant to the Registration Statement. |
68M | 0 |
| Jan 16, 2020 |
S-1/A filing: The filing is an S-1/A amendment related to an initial public offering of common stock. |
68M | 4M |