rYojbaba Co., Ltd. (RYOJ) AI Dilution Summary

Dilution here is driven by the Representative's Warrants (Second Series Stock Acquisition Rights), the IPO underwriter warrants issued August 15, 2025. They cover 87,500 shares at an exercise price of $5.00 and expire 2030-08-14. This is a fixed-price instrument: its share count is set by contract at issuance and does not grow as the share price falls.