Fatpipe Inc/UT (FATN) AI Dilution Summary

FatPipe reported cash of $4,308,342 at 2026-06-30 against estimated monthly burn of $226,349. Its equity funding channel is an active at-the-market program with H.C. Wainwright & Co., LLC authorised to $10,000,000, with $0 sold to date; separately, on 2026-09-30 it entered a $4.5 million KeyBank secured term loan (debt, not equity), and on 2026-10-01 $4,470,000 repaid the Fortis Bank SBA loan in full. Dilution here is driven primarily by that ATM program.