SNDL Inc. (SNDL) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: March 18, 2025

Risk Assessment Details

Potential Dilution: 594.96% of current shares
Recent Dilution: 0% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
260M
Potential Supply
1.6B
Additional shares possible
Splits
None
Past 2 years

Summary

SNDL currently has 263M outstanding shares. with significant dilution risk as 1.56B authorized shares could dilute existing holders by 595.0%. The company has not diluted shareholders through share issuances in the past 2 years, which is positive for existing holders.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Mar 18, 2025

40-F filing | 263.0M shares outstanding

260M 1.6B
Mar 21, 2024

40-F filing | 262.8M shares outstanding

260M 1.6B
Apr 24, 2023

20-F filing | 235.2M shares outstanding

240M 1.6B
Apr 28, 2022

20-F filing | 2060.4M shares outstanding

2.1B 0
Mar 18, 2021

20-F filing | 918.8M shares outstanding

920M 910M
Mar 03, 2021

F-3 filing: This is an F-3 filing for a shelf offering of up to 98,333,334 common shares issuable upon the exercise of New Warrants by selling shareholders.

1.7B 170M
Feb 16, 2021

F-3 filing: Sundial Growers Inc. may sell common shares, preferred shares, warrants, rights and units from time to time in one or more offerings for a total proposed amount of US$1,000,000,000.

1.1B 620M
Jan 21, 2021

F-3 filing: Sundial Growers Inc. files an F-3 form to register the offering of common shares, preferred shares, warrants, rights and units that they may sell from time to time.

1.1B 620M
Jan 15, 2021

F-3 filing: Sundial Growers Inc. is offering common shares and preferred shares from time to time, and may offer and sell common shares through AGP as agent, up to an aggregate offering amount of US$400,000,000.

1.1B 12M
Dec 04, 2020

F-3 filing: This F-3 filing relates to the potential offering of common shares, preferred shares, warrants, rights, and units by Sundial Growers Inc. with the intention to use net proceeds to repay indebtedness and finance possible acquisitions.

710M 0
Oct 13, 2020

F-3 filing: This F-3 filing describes a mixed shelf prospectus for issuing up to $100,000,000 in common shares, preferred shares, rights, warrants, or units, and an ATM program for issuing up to $50,000,000 in common shares.

110M 180M
Aug 04, 2020

F-3 filing: Sundial Growers Inc. may sell common shares, preferred shares, warrants, rights and units from time to time in one or more offerings.

110M 180M
Jul 16, 2020

F-1 filing: This is an F-1 filing detailing the costs and expenses associated with the sale of common shares being registered. The total proposed amount is $468,185.30.

110M 0
Mar 31, 2020

20-F filing | 107.2M shares outstanding

110M 0
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