Is CURR diluting shareholders?

Read three numbers together: shares outstanding over time (76.6M as of 2025-12-31), warrants that can convert into new shares, and how much cash runway remains. A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

Currenc Group Inc. (CURR)

CIK 1862935 · all EDGAR filings →

Overall dilution risk

HIGHworst of 3 computed signals (offering ability)

= the worst band among the computed sub-ratings, no hidden weighting

not every sub-rating was computable; treat as a floor

Offering ability

HIGH$100M registered

= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)

one or more live registrations had no structured fee data, so the true total is AT LEAST this

Overhead supply

NOT COMPUTEDno warrant count tagged in XBRL

= warrant shares outstanding divided by current shares outstanding

absence of a tag is not proof of absence of warrants

Historical dilution

MEDIUM+65% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

LOWoperating cash flow positive

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 76.6M shares as of Dec 31, 2025 (20-F).

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

Reported exercise price: $0.01 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $0 as of Sep 30, 2024.

Convertible notes

Convertible debt on the balance sheet: $1.8M as of Mar 31, 2025, tagged only as a company-wide total.

Reported conversion price: $10 (aggregate figure as tagged; individual notes can vary).

This filer tagged totals without per-note dimensions in its 10-Q filed May 20, 2025 →, so per-note terms (maturities, individual conversion prices) live in the exhibit prose and are not parsed here.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding	76.6M	Dec 31, 2025
+ Convertible debt (aggregate carrying / conversion price) (if fully converted)	175,000	Mar 31, 2025
Fully diluted estimate	76.8M	+0.2% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $100.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

F-3Sep 17, 2025$100.0M registeredfiling →

S-1Feb 14, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

S-1Sep 30, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 2 registered.

UPDATEMay 19, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEJan 21, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEJan 6, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEDec 16, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

REGISTEREDDec 10, 2025F-3/A registration — capacity to sell shares, not a sale yetF-3/A →

UPDATEDec 9, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATENov 21, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATENov 3, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEOct 21, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

REGISTEREDSep 17, 2025F-3 registration — capacity to sell shares, not a sale yetF-3 →

UPDATEAug 11, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATEAug 4, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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