Is EXE diluting shareholders?

Read three numbers together: shares outstanding over time (239.2M as of 2026-04-24), 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

EXPAND ENERGY Corp (EXE)

CIK 895126 · 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

HIGHS-3ASR on file 2024-11-20

= is there a registration (S-1/S-3 family) on file without a later withdrawal

no structured fee data on the live registrations, so this is a yes/no, not a size

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+79% O/S in 3y

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

a reverse-split-sized cliff is in this window; read the chart

Cash need

LOWoperating cash flow positive

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

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: 239.2M shares as of Apr 24, 2026 (10-Q). Share count fell from 1.95B to 9.8M between Feb 19, 2020 and Apr 27, 2020, a pattern consistent with a reverse split (roughly 1-for-200); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Tranche	Warrants	Exercise price	Term	Notes
Class C Warrants	1.2M	not tagged	—	—
Class B Warrants	48,801	not tagged	—	—
Class A Warrants	15,705	not tagged	—	—

Tranches exactly as the company dimensioned them in its 10-Q filed Jul 28, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

No convertible-note facts tagged in the 10-Q filed Jul 28, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

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	239.2M	Apr 24, 2026
+ Class C Warrants (if exercised)	1.2M	Dec 31, 2025
+ Class B Warrants (if exercised)	48,801	Dec 31, 2025
+ Class A Warrants (if exercised)	15,705	Dec 31, 2025
Fully diluted estimate	240.5M	+0.5% 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

S-3ASRNov 20, 2024fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →

Last 12 months: 0 executed · 0 registered.

EXECUTEDNov 22, 2024Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

MARKETINGNov 21, 2024Free-writing prospectus — offering being marketedFWP →

REGISTEREDNov 20, 2024Automatic shelf registration — effective immediately (large filers)S-3ASR →

EXECUTEDNov 20, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

UPDATEMay 17, 2024Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEMay 17, 2024SEC declared a registration effective — selling can beginEFFECT →

UPDATEOct 7, 2022Prospectus update — often a resale registration, not necessarily new capital424B3 →

UPDATESep 16, 2022Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVESep 16, 2022SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDMar 24, 2022Automatic shelf registration — effective immediately (large filers)S-3ASR →

UPDATEJan 6, 2022Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEDec 30, 2021SEC declared a registration effective — selling can beginEFFECT →

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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