TOYO Co., Ltd (TOYO) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

High Risk

Significant dilution risk

Last updated: June 17, 2026

Risk Assessment Details

Potential Dilution: 153.96% of current shares

Recent Dilution: 807.13% (2 years)

Historical Dilution Factor: significant recent dilution

Outstanding Shares

38M

Potential Supply

59M

Additional shares possible

Splits

None

Past 2 years

Summary

TOYO currently has 38.2M outstanding shares. with significant dilution risk as 58.8M authorized shares could dilute existing holders by 154.0%. The company has significantly diluted shareholders by 807.13% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Jun 17, 2026	F-3 filing: The filing covers the issuance of up to 4,969,296 ordinary shares upon the exercise of warrants and the resale of up to 1,419,000 ordinary shares by selling shareholders.	38M	59M
Apr 01, 2026	20-F filing \| 37.8M shares outstanding	38M	52M
Oct 20, 2025	F-3 filing: This is a shelf registration for TOYO Co., Ltd to offer and sell up to $200,000,000 in the aggregate of ordinary shares, warrants, debt securities, rights or any combination of the foregoing.	4.2M	52M
May 12, 2025	20-F filing \| 46.6M shares outstanding	47M	52M
Dec 05, 2024	F-1 filing: This F-1 filing describes the principal terms of the offering, including the issuance of ordinary shares upon the exercise of warrants and the resale of ordinary shares by selling securityholders.	47M	52M

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