S-1 · primary and resale
Issued 2024
Proposed maximum
Shares registered
- Filed
- Effective
DLXY$1.57-1.88%
Delixy Holdings Ltd
Sector: Wholesale-Petroleum & Petroleum Products (No Bulk Stations)Industry: Oil & Gas Refining & MarketingCountry: SGExchange: Nasdaq
Mkt Cap:$2.25M
Float & O/S:
Inst Own:
DilutionScan read 20 of Delixy Holdings Ltd's SEC filings and found 1 S-1 registration and 1 completed offering on file for DLXY. The latest dilution event on file is an offering on Jul 10, 2025. Analysis updated Oct 5, 2026.
Signal8 Summary
DLXY
Fresh reverse split, cash-burning micro-cap
Snapshot
Delixy is a tiny Singapore-based oil trading company with razor-thin margins. FY 2025 revenue was $307.7M but gross profit was only $2.5M (0.8% margin), and the company lost $4.5M for the year versus a $1M profit in FY 2024.
What's Happening Right Now
- : Delixy completed a 1-for-5 reverse share split effective September 28, 2026, aimed at lifting the share price to keep meeting Nasdaq's minimum listing requirements.
- : Delixy signed a non-binding letter of intent to acquire up to 48% of Tarbagatay Munay, operator of the Sarybulak Oil Field in Kazakhstan, but no price or terms were disclosed and completion requires multiple government and shareholder consents.
- : Two independent directors resigned in July 2026 and were replaced by two new independent directors, with board committees reconstituted afterward.
- : An amended annual report filing confirmed management found material weaknesses in internal financial controls as of December 31, 2025, including insufficient US-GAAP expertise and IT control gaps.
- : Raised $5.40M in gross proceeds through a public offering.
- : Registered 1.00M shares for sale on Form S-1.
Raise routes on file: no active ATM, effective shelf, S-1 or equity line in the filings read · latest dilution event 481 days ago
Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need
AI dilution summary
The dominant contractual driver and its mechanism, then each further driver ranked.
Latest dilution event
Jul 10, 2025 · Offering
Every warrant, convertible, ATM and shelf, cited to the filing
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Share count and cash history
Shares outstanding, potential dilution and cash over time
Completed
Public offering
Issued 2025
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
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