Dilution research for small-cap traders

Understand the dilution before you take the trade.

Check offerings, warrants, and convertible debt to see where new shares could come from.

Inside a ticker report

Follow the financing. Check the terms. Read the source.

dilutracker.com/ticker/tanhExample snapshot

TANHTantech Holdings Ltd.

NASDAQ · Class A common shares · China

Sample report · not live data

Tantech reported approximately 667.6K Class A shares after its September reverse split. Series E and F warrants create potential dilution; their current unexercised balances are unknown.

Dilution riskHigh

8 / 10

Outstanding Shares667.6KIssuer estimate · Sep 3, 2026 ↗

Float667.6KLegal estimate · effective float unknown

Cash Runway68.1 months$33.0M cash · Dec 31, 2025 ↗

Inst. Ownership4%Example report figure

Instruments

Selected instruments identified from SEC filings

Joseph Stone ATM

Dated terms

ATM

Original maximum: $2.15M
Remaining capacity: Unverified
Commission: 4.5%

The underlying 2023 shelf has passed its three-year anniversary; usable capacity is unverified. SEC filing ↗

March 2026 Series E warrants

Dated terms

Warrant

Dated reference shares: ~430K
Exercise price: $15.00
Balance date: Jun 1, 2026

Split-adjusted reference. Current balance unknown; cashless exercise is permitted. SEC filing ↗

March 2026 Series F warrants

Dated terms

Warrant

Dated reference shares: ~430K
Exercise price: $17.50
Balance date: Jun 1, 2026

Split-adjusted reference. Current balance unknown; cashless exercise is permitted. SEC filing ↗

Primary F-3 shelf

Dated terms

Shelf

Nominal shelf: $100M
Remaining capacity: Unknown
Effective: Sep 11, 2023

Registration capacity is not cash. Current usable capacity is unverified. SEC filing ↗

April 2024 Series A warrants

Dated terms

Warrant

Dated reference shares: 179,476
Reference exercise: $14.81
Balance date: Apr 3, 2026

Split-adjusted reference; later resets and exercises can change the balance and terms. SEC filing ↗

October 2025 Series C & D

Dated terms

Warrant

Reference shares: 216,868 each
Exercise prices: $83 / $91.50
Balance date: Dec 31, 2025

Split-adjusted dated balances. Current balances and cashless outcomes remain unknown. SEC filing ↗

Share count reconciliation

September 2026 reverse split

Reported pre-split Class A shares: 33,382,332
Reverse split: 1-for-50
Approximate post-split Class A: 667,647
Class B, shown separately: 1,142

Issuer-rounded Class A estimate, not an exact transfer-agent balance. Unexercised warrants are excluded.

Cash & runway

Audited FY 2025 inputs

Unrestricted cash: $33.0M
Operating cash use: $5.82M / year
Average monthly cash use: $484.7K
Historical runway: 68.1 months

Historical calculation as of Dec 31, 2025, not a current liquidity estimate.

SEC filings & sources

Sep 1, 20266-KReverse split and approximate shares outstanding ↗

Jun 9, 2026F-3Series E / F resale registration and warrant terms ↗

May 14, 202620-FAudited financials, ownership and financing notes ↗

See the full dilution picture

Instrument terms, financials, and the SEC filings behind them.

View TANH report Full research with a subscription. See plans

Historical sample, not live data. Figures are dated; balances and terms may have changed.

Dilution tracker API

Dilution data for your tools

Pull dilution risk, warrants, ATMs, float, cash runway, and SEC filings into your tools.

REST APIJSON responsesBearer authAll plans

Internal toolsPipe dilution data into your desk

Request

const tickers = ["EVTL", "SLXN", "MULN"];

const rows = await Promise.all(
  tickers.map(async (ticker) => {
    const res = await fetch(
      `/api/v1/ticker/${ticker}`,
      { headers: { Authorization: "Bearer dt_live_..." } }
    );
    return res.json();
  })
);

Response

{
  "ticker": "EVTL",
  "report": {
    "scores": {
      "overallRisk": "SEVERE",
      "offeringAbility": "HIGH"
    }
  },
  "runway": { "months": 9 },
  "instruments": {
    "cards": { "items": [
      { "name": "ATM Offering", "status": "active" },
      { "name": "Public Warrants", "status": "active" }
    ] }
  }
}

Authorization: Bearer dt_live_...

API overview →Full docs →

Per-ticker endpoints

Fetch one slice or the full report.

Same API on every plan

GETSummary & risk

/api/v1/ticker/EVTL/summary

Narrative report and risk scores.

GETDilution instruments

/api/v1/ticker/EVTL/dilution

Warrants, converts, ATMs, and shelves.

GETFloat & OS

/api/v1/ticker/EVTL/float

Share count, float, and holders.

GETCash runway

/api/v1/ticker/EVTL/runway

Cash, burn, and runway months.

GETFull report

/api/v1/ticker/EVTL

Every module in one response.

Pricing

Know the dilution before you take the trade.

Check warrants, convertibles, financing capacity, and cash runway. Every plan includes full dilution reports and the stock screener.

Starter

For checking dilution on the small caps you trade.

$69/mo

or $599 billed annually

Your trading research

Full dilution reports
Stock screener
Watch up to 100 tickers

API access included

100 unique ticker lookups/mo
All API endpoints
Filing data updated within 24 hours

Choose Starter

Pro

For tracking more setups and keeping your research organized.

$119/mo

or $1,199 billed annually

Your trading research

Everything in Starter
Unlimited watchlists
CSV and PDF exports

API access included

1,000 unique ticker lookups/mo
Full dilution breakdown and history

Choose Pro

Business

For researching a wider market with your own tools.

$299/mo

or $2,999 billed annually

Your trading research

Everything in Pro
Priority support

API access included

5,000 unique ticker lookups/mo
5 years of filing history
Bulk exports and webhooks

Choose Business

Building a tool or need more API capacity? Ask about custom access and data licensing.

FAQ

Frequently asked questions

How Dilutracker works, what's in a report, and how plans and API access fit together.

How often is the data updated?

Quotes update during market hours. We process new SEC filings and refresh dilution data within 24 hours.

Where does the data come from?

We source data from SEC EDGAR filings, company websites, investor-relations materials, press releases, and relevant news. We link material dilution data back to its source so you can verify it.

Can I export Dilutracker data?

Yes. Pro includes CSV and PDF exports. Business adds bulk exports and webhooks. Every plan also includes API access for structured data workflows.

How is Dilutracker different from other dilution trackers?

Dilutracker focuses on data quality, source-linked analysis, and access to the underlying details. It combines risk scores, float and shares outstanding, cash runway, and active instruments in one report. Every plan includes API access for internal tools and research workflows.

How are float and shares outstanding calculated?

We calculate shares outstanding from company disclosures and SEC filings. We estimate float by identifying restricted, affiliate, and other non-tradable holdings, then show the source date and confidence behind the result.

How is cash runway calculated?

We compare estimated cash with the company's operating burn rate. We adjust for material financing events disclosed after the latest financial statement, including offerings and warrant exercises.

What is Dilutracker?

Dilutracker is a stock dilution research platform. It turns filings and company disclosures into structured reports covering dilution risk, warrants, convertibles, ATMs, shelf capacity, float, shares outstanding, and cash runway.

What stocks are covered?

We cover more than 2,000 stocks across Nasdaq, NYSE, and NYSE American. Coverage focuses on small-cap companies with recent dilution-related filings, including US companies and SEC-reporting foreign issuers.

Understand the dilution before you take the trade.

See the full dilution picture

Know the dilution before you take the trade.

Starter

Pro

Business

Frequently asked questions

Put dilution risk in view.