# Cleaning firm dumps Dogecoin to fund $100M AI pivot amid stock dilution warning > Source: > Published: 2026-08-24 11:36:00+00:00 CleanCore’s $100 million stock offering increased its common shares outstanding from 226,260,684 to 502,090,260, with proceeds tied to its shift from cleaning products and Dogecoin treasury assets into Minnesota AI infrastructure. An Aug. 20 SEC filing states that CleanCore reached the new total after issuing 275,829,576 offering shares. The final prospectus supplies the pre-offering base, putting the increase at 121.9%. The issued shares represent dilution already delivered. Another 524.2 million offering shares remain possible. ## Warrants leave another 524 million shares in play CleanCore also issued pre-funded warrants covering 124,170,424 shares and investor warrants covering up to 400 million shares. At their stated terms, exercise of every offering warrant after the Aug. 20 count would take the offering-only total to 1,026,260,684 shares. The pre-funded warrants cost $0.0001 per share to exercise and do not expire. The investor warrants cost $0.25 per share, expire after five years and could bring CleanCore about $100 million of additional gross proceeds if all are exercised for cash. The scenario remains conditional and is not a company-wide fully diluted count. Exercises face ownership limits and adjustments, while the prospectus separately lists options, restricted stock units, pre-existing warrants, settlement shares, plan reserves and project-covenant shares. ## CleanCore stock offering leaves funding gaps unresolved CleanCore said the offering closed Aug. 12 with approximately $100 million gross. The prospectus lists an $8 million placement and advisory fee and separately estimates net proceeds at about $92 million, but the closing disclosure does not state the exact cash received. The estimated $92 million of offering net proceeds sits against up to $500 million of CleanCore commitments for the Minnesota joint venture and its $479 million initial budget. Offering proceeds can also fund working capital, capital spending, general corporate uses and possible costs tied to disposing of the cleaning business, so they are not reserved exclusively for Minnesota. The joint-venture filing scheduled an initial $40 million as $25 million at the venture’s closing and up to another $15 million within four business days, depending on budget needs. It did not document either payment. CleanCore later said it had about $140 million of project equity “funded or committed,” including offering proceeds and completed Dogecoin sales. The disclosures do not reconcile that figure, separate cash funded from commitments or show that the venture’s contribution schedule has been satisfied. $DOGE supplied another part of the project-financing story. The prospectus says CleanCore sold substantially all 463 million $DOGE on July 20 for about $33.4 million and used the proceeds for its AI infrastructure segment. It does not quantify any remaining $DOGE or say the tokens were pledged. The company’s March 31 balance sheet showed $4.1 million of cash and cash equivalents and $13 million of restricted cash. No cited disclosure provides a current cash balance after the $DOGE sale and offering. The offering turns CleanCore’s previously unresolved funding risk into a 121.9% increase in outstanding shares, while both the Minnesota funding schedule and conditional warrant dilution remain in play.