TECOGEN INC. (TGEN) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 13, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 22.99% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
30M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

TGEN currently has 29.9M outstanding shares. with minimal authorized share overhang for future dilution. The company has diluted shareholders by 22.99% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 13, 2026

10-Q filing | 29.9M shares outstanding

30M 0
Nov 13, 2025

10-Q filing | 28.8M shares outstanding

29M 0
Aug 13, 2025

10-Q filing | 29.7M shares outstanding

30M 0
Jul 21, 2025

8-K filing: Tecogen Inc. closed a public offering of 3,985,000 shares of common stock at $5.00 per share, resulting in net proceeds of approximately $18,160,750. ($19.93M proceeds)

25M 2.9M
Jul 18, 2025

8-K filing: Tecogen Inc. entered into an underwriting agreement to issue and sell 3,500,000 shares of common stock at $5.00 per share, with an option for the underwriter to purchase an additional 485,000 shares. ($17.5M proceeds)

25M 2.9M
Jul 15, 2025

S-1 filing: Tecogen Inc. is offering 2,666,667 shares of common stock, with an option for underwriters to purchase an additional 400,000 shares. The intended use of proceeds includes continued product development, increased sales and marketing activities, additional human resources, capital expenditures, and other costs and expenses we may incur in connection with our anticipated expansion into the data center market, and for other general working capital and corporate purposes.

25M 2.9M
May 13, 2025

10-Q filing | 25.0M shares outstanding

25M 0
May 02, 2025

8-K filing: Tecogen Inc. issued 240,256 shares of common stock to Mr. Earl R. Lewis, III, a director, upon conversion of a promissory note with a balance of $514,148.22 at a price of $2.14 per share on May 1, 2025. ($0.51M proceeds)

25M 0
Mar 18, 2025

10-K filing | 24.9M shares outstanding

25M 0
Nov 14, 2024

10-Q filing | 24.9M shares outstanding

25M 0
Aug 08, 2024

10-Q filing | 24.9M shares outstanding

25M 0
May 09, 2024

10-Q filing | 24.9M shares outstanding

25M 0
Mar 25, 2024

10-K filing | 24.9M shares outstanding

25M 0
Nov 09, 2023

10-Q filing | 24.9M shares outstanding

25M 0
Aug 10, 2023

10-Q filing | 24.9M shares outstanding

25M 0
May 11, 2023

10-Q filing | 24.9M shares outstanding

25M 0
Mar 23, 2023

10-K filing | 24.9M shares outstanding

25M 0
Nov 10, 2022

10-Q filing | 24.9M shares outstanding

25M 0
Aug 11, 2022

10-Q filing | 24.9M shares outstanding

25M 0
May 12, 2022

10-Q filing | 24.9M shares outstanding

25M 0
Mar 10, 2022

10-K filing | 24.9M shares outstanding

25M 0
Nov 10, 2021

10-Q filing | 24.9M shares outstanding

25M 0
Aug 12, 2021

10-Q filing | 24.9M shares outstanding

25M 0
May 13, 2021

10-Q filing | 24.9M shares outstanding

25M 0
Mar 19, 2021

POS AM filing: Shares of common stock may be reoffered and resold from time to time through brokers in the over-the-counter market or otherwise at prices acceptable to the selling stockholders.

25M 0
Mar 18, 2021

10-K filing | 24.9M shares outstanding

25M 0
Mar 12, 2021

POS AM filing: This POS AM filing describes a potential offering where selling stockholders may sell up to 706,147 shares of common stock.

25M 0
Nov 12, 2020

10-Q filing | 24.9M shares outstanding

25M 0
Aug 13, 2020

10-Q filing | 24.9M shares outstanding

25M 0
Jul 24, 2020

POS AM filing: Filing relates to the reoffer prospectus for shares of common stock by selling shareholders.

25M 0
Jul 10, 2020

POS AM filing: This is a POS AM filing to deregister 3,718,839 shares of Tecogen Inc. common stock due to the company's delisting from The NASDAQ Stock Market.

25M 0
Jul 10, 2020

POS AM filing: This is a post-effective amendment to deregister unsold common stock and warrants under a Form S-3 registration statement (File No. 333-237582) due to the company's delisting from The NASDAQ Stock Market.

25M 0
May 14, 2020

10-Q filing | 24.9M shares outstanding

25M 27M
Apr 06, 2020

POS AM filing: This is a post-effective amendment to deregister unsold common stock and warrants from a previous offering, as the offerings have been terminated due to the expiration of the registration statement.

25M 27M
Apr 06, 2020

S-3 filing: Tecogen Inc. is filing an S-3 registration statement to offer shares of common stock, warrants to purchase common stock, or units for an aggregate offering price of up to $25,000,000.

25M 27M
Apr 02, 2020

S-3/A filing: This is a post-effective amendment to deregister unsold common stock and warrants from a previous offering, as more than three years have passed since the initial effective date and the offering has been terminated.

25M 0
Mar 12, 2020

10-K filing | 24.9M shares outstanding

25M 0
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