What is TONX's dilution risk score?

TONX currently has a DilutionScore of 35/100, indicating medium dilution risk. DilutionWatch monitors TONX SEC filings in real-time, scanning EDGAR every 60 seconds for shelf registrations, ATM offerings, warrant exercises, PIPE deals, and reverse split signals.

What SEC filings does DilutionWatch track for TONX?

DilutionWatch tracks 25 SEC filing types for TONX including S-3 shelf registrations, 424B prospectuses (ATM offerings), S-1 registration statements, 8-K material events, warrant exercise notices, convertible note agreements, and Form 4 insider transactions. Alerts are delivered via email within minutes of a filing appearing on EDGAR.

How does stock dilution affect TONX shareholders?

Stock dilution occurs when a company issues new shares, reducing the ownership percentage of existing shareholders. For TONX, common dilution events include at-the-market (ATM) stock offerings, shelf registration drawdowns, warrant exercises, and convertible note conversions. Each event increases the share count and can pressure the stock price lower.

Is DilutionWatch free for TONX tracking?

DilutionWatch provides a free tier that shows DilutionScores and basic filing history for TONX. Premium plans ($19.95/month Basic, $39.95/month Premium) unlock real-time email alerts, the full Pulse™ feed, advanced dilution forecasts, and access to all 10,000+ tracked tickers.

TONX Dilution Risk Score: 35/100 (MEDIUM)

📊 Score Breakdown

📋 Offering Ability

60

💰 Cash Runway

0

📊 Float Risk

50

⚠️ Warrant Exposure

70

🔄Convertible Debt—

🌦️ Dilution Forecast

🌥️

Advisory

Moderate dilution signals present

20%

📜 Warrant Exercise 40%

• Significant warrants: 26% of shares outstanding

• Elevated warrant risk score (70/100)

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💹 Market Data

Market Cap$224.99M

Shares Outstanding56.53M

Float32.33M

Cash$39.91M

Debt$6.82M

Short InterestN/A

🏛 Institutional Holdings

QoQ: ↑ 13.4% shares (2026Q1 vs prior)

41 institutional holders · 18.11M shares

#1 ARISTEIA CAPITAL, L.L.C. 4.90M shares

#2 VANGUARD CAPITAL MANAGEMENT LLC 4.58M shares

#3 Ribbit Management Company, LLC 1.58M shares

+ 17 more holders Sign up free to view →

📉 Short Interest

Short Interest2.90M

Days to Cover8.7

% of Float9.0%

FINRA data as of Jun 30, 2026

👤 Insider Buy/Sell Ratio

📁 Recent SEC Activity

xbrl XBRL WARRANT Jul 07, 2026

xbrl XBRL CONVERTIBLE Dec 31, 2023

Full SEC filing analysis available with free account →

📰 Recent News

No recent news

📋 What This Means for TONX Shareholders

TON Strategy Co (TONX) has a DilutionScore of 35/100, rated Medium dilution risk. This tier indicates some dilution exposure — often an older shelf registration with remaining capacity, warrants not yet exercised, or a cash position that will require monitoring over the next several quarters. Score as of July 14, 2026.

DilutionWatch tracks 14.7M outstanding warrants for TONX. Warrants become dilutive when exercised — converting to common shares at the strike price. Warrants near or in-the-money deserve particular attention since exercise can add materially to the outstanding share count within a short window.

DilutionWatch tracks over 25 SEC filing types for TONX in real-time, scanning EDGAR every 60 seconds. The DilutionWatch screener shows real-time score changes for TONX alongside comparable medium-risk stocks. Not financial advice — this analysis is for informational purposes only.

Warrants Explained →