NUKKNukkleus Inc. · NASDAQ
Effective Supply — the real overhang

From what's tradeable today to what's realistically coming. Bigger = more selling pressure ahead.

81.15M
Tradeable Now
(estimated float)
81.15M
Effective Supply
155.00M
Fully Diluted
Dilution risk9/10
CONFIDENCE: MEDIUM
EXTREMEAssessed Jul 6, 2026Trigger: Scheduled refreshCRITICALActive ELOC drawdown / registered resale supplyCRITICALVariable-rate preferred (death spiral)

Active, large-scale dilution is happening in real time: the Esousa ELOC ($250M capacity, 48M shares registered) was drawn for 15.2M shares in a single day on 2026-06-12 at ~$0.25, and outstanding grew ~57% in under a month. On top of that, 200 shares of variable-rate Series B preferred ($10M stated value) now have stockholder conversion approval (obtained 2026-06-24) and reset to market — at ~$0.25 that is 40M+ potential shares. Feb 2026 warrants carry full-ratchet anti-dilution with a $0.01-floor cashless exchange. This is the textbook profile reserved for the top of the scale.

Share Structure

Float to Fully Diluted Breakdown

NO DATA

Reported float from No reliable market float. Insight Sentry symbol is NASDAQ:DFNSW (the WARRANT, not common); its 167,618,231 'shares_outstanding' and $0.0899 price are misattributed to the warrant and unusable for the common. Fell back to SEC reconstruction.. Adjusted based on SEC filing analysis.

Reported Float81.15M52.4%
Convertible Notes1.63M1.0%
Star 26 Six-Month Note (8%)
Conv. Price: unknown
Shares: Variable — cannot estimate
Star 26 Three-Month Note
Conv. Price: unknown
Shares: Variable — cannot estimate
Nimbus Note (Elad Defense) — CONVERTED, no longer outstanding
Conv. Price: fixed
Est. Shares: ~1.63M (agent-computed)
Warrants23.21M15.0%
common838K shares at $92
common12.02M shares at $1.5
common7.04M shares at $2.13
placement_agent2.72M shares at $5.405
common250K shares at $4.4
common350K shares at $6
placement_agent0 shares
Other5K0.0%
Options / RSUs5K shares
≈ Estimated Actual Float

Reported float + filing adjustments

81.15M

MEDIUM confidence

Pending Shares as % of Float67.8%

Registered and convertible shares that could enter the float relative to current float size.

Fully Diluted155.00M100%

Share estimates are approximate. Convertible share counts based on current price. Review SEC filings for exact terms.

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Dilution profile
Reverse splits
  • 1-for-8·Oct 11, 2024~2 yr ago
Active mechanisms
  • ▸Esousa Equity Line of Credit ($250M / 48M shares registered; actively drawn)
  • ▸Series B variable-rate convertible preferred (stockholder conversion approval obtained 2026-06-24)
  • ▸February 2026 warrants with full-ratchet anti-dilution + $0.01-floor cashless exchange
  • ▸Pending resale registration of 30M PIPE shares (S-1 333-296513)
  • ▸Board discretionary reverse-split authority (1-for-2 to 1-for-250, approved 2026-06-24)

Stock data unavailable