Token Cat Ltd (TC) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
TC currently has 8.25B outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 2246.6% over the past 2 years, indicating aggressive capital raising.
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 08, 2026 |
20-F filing | 8253.4M shares outstanding |
8.3B | 0 |
| Dec 17, 2025 |
F-3 filing: Token Cat Limited may offer and sell Class A ordinary shares, including Class A ordinary shares represented by American Depositary Shares (ADSs), preferred shares, debt securities, warrants, either individually or as units composed of one or more of the other securities, of an aggregate offering price of up to US$500,000,000. |
710M | 0 |
| Mar 28, 2025 |
20-F filing | 705.8M shares outstanding |
710M | 0 |
| Dec 27, 2024 |
F-1 filing: This F-1 filing outlines a proposed offering of up to 761,719 American Depositary Shares (ADS) representing 182,812,560 Class A Ordinary Shares by a selling shareholder, derived from warrants issued under a securities purchase agreement, with the company receiving proceeds only upon warrant exercise for working capital and corporate purposes. |
55M | 180M |
| Mar 28, 2024 |
20-F filing | 55.3M shares outstanding |
55M | 0 |
| Mar 29, 2023 |
20-F filing | 55.3M shares outstanding |
55M | 0 |
| May 13, 2022 |
F-3 filing: TuanChe Limited may offer and sell Class A ordinary shares, including Class A ordinary shares represented by American Depositary Shares, preferred shares, debt securities, warrants, either individually or as units, up to an aggregate offering price of US$300,000,000. |
200M | 0 |
| Apr 29, 2022 |
20-F filing | 55.3M shares outstanding |
55M | 0 |
| May 14, 2021 |
20-F filing | 266.6M shares outstanding |
270M | 0 |
| May 18, 2020 |
20-F filing | 266.5M shares outstanding |
270M | 0 |