TEN Holdings, Inc. (XHLD) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: June 03, 2026

Risk Assessment Details

Potential Dilution: 129.41% of current shares
Recent Dilution: 119.4% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
4.5M
Potential Supply
5.8M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

XHLD currently has 4.48M outstanding shares. with significant dilution risk as 5.79M authorized shares could dilute existing holders by 129.4%. The company has significantly diluted shareholders by 119.4% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jun 03, 2026

S-1/A filing: TEN Holdings, Inc. is offering 8,000,000 shares of common stock at an assumed public offering price of $1.41 per share.

4.5M 5.8M
May 26, 2026

8-K filing: TEN Holdings, Inc. entered into a stock purchase agreement and issued 500,000 shares of common stock for $500,000 in a private placement. ($0.5M proceeds)

4M 0
May 15, 2026

10-Q filing | 4.0M shares outstanding

4M 0
Apr 06, 2026

S-1 filing: TEN Holdings, Inc. is offering shares of its common stock in a firm commitment underwritten offering, with an expected public offering price between $ to $ per share.

4M 0
Mar 18, 2026

10-K filing | 4.0M shares outstanding

4M 0
Dec 01, 2025
Stock Split

8-K filing: Stock split 1-for-15 | Outstanding: 44,592,464 → 3,000,000

3M 0
Nov 10, 2025

10-Q filing | 44.6M shares outstanding

45M 0
Aug 14, 2025

10-Q filing | 35.2M shares outstanding

35M 0
Aug 08, 2025

8-K filing: TEN Holdings, Inc. entered into a market awareness agreement with MicroCap Advisory, LLC, where the MC Advisor will receive 500,000 fully earned warrants exercisable at $0.40 per share for investor communications and market awareness services.

35M 0
Jul 18, 2025

S-1 filing: This S-1 filing relates to the offer and sale of up to 7,000,000 shares of common stock by Lincoln Park Capital Fund, LLC pursuant to a purchase agreement, with the company potentially receiving up to $20.0 million in gross proceeds.

35M 0
Jun 25, 2025

8-K filing: TEN Holdings, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, for the sale of up to $20.0 million in shares of its common stock, and issued 882,145 commitment shares to Lincoln Park in consideration for their commitment.

27M 0
May 20, 2025

10-Q filing | 27.1M shares outstanding

27M 0
Mar 28, 2025

10-K filing | 28.7M shares outstanding

29M 0
Feb 21, 2025

8-K filing: TEN Holdings, Inc. closed its initial public offering of 1,667,000 shares of common stock at a price of $6.00 per share on February 18, 2025.

25M 0
Feb 05, 2025

S-1/A filing: This S-1/A filing includes information about a warrant issued to Spirit Advisors, LLC to purchase common stock, a convertible promissory note issued to Naoaki Mashita, and the company's equity incentive plan.

25M 2.6M
Jan 03, 2025

S-1/A filing: This is an S-1/A filing for an offering of common stock with an estimated price range of $4.00 to $6.00 per share, offering 2,500,000 shares.

26M 2.6M
Dec 30, 2024

S-1/A filing: This S-1/A filing is for an offering of common stock with an estimated price range of $4.00 to $6.00 per share, with the company intending to list on Nasdaq under the ticker symbol "XHLD".

26M 2.6M
Dec 26, 2024

S-1/A filing: This S-1/A filing outlines a proposed offering of 2,500,000 shares of common stock with an estimated price range of $4.00 to $6.00 per share, along with registration of Representative's Warrants.

26M 2.6M
Dec 18, 2024

S-1/A filing: The filing is an S-1/A form for an IPO of common stock, with an estimated price range of $4.00 to $6.00 per share and 2,500,000 shares offered.

25M 2.6M
Dec 11, 2024

S-1/A filing: This S-1/A filing registers shares of common stock for an IPO with an estimated price range of $4.00 to $6.00 per share, as well as Representative's Warrants.

25M 2.6M
Dec 04, 2024

S-1/A filing: TEN Holdings, Inc. is offering 2,500,000 shares of common stock to the public with an estimated initial public offering price between $4.00 and $6.00 per share.

25M 2.6M
Nov 15, 2024

S-1/A filing: TEN Holdings, Inc. is offering 2,500,000 shares of common stock with an estimated initial public offering price range of $4.00 to $6.00 per share.

25M 2.5M
Oct 28, 2024

S-1/A filing: TEN Holdings, Inc. is offering 2,500,000 shares of common stock with an estimated price range of $4.00 to $6.00 per share, and is registering Representative's Warrants to purchase shares of common stock equal to 5.0% of the total number of shares of common stock sold in this offering.

25M 2.6M
Oct 11, 2024

S-1 filing: TEN Holdings, Inc. is filing an S-1 to offer shares of common stock to the public.

25M 2.5M
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