SEQUANS COMMUNICATIONS (SQNS) AI Dilution Summary

Cash was $20,972,000 at 2026-06-30, against estimated monthly burn of $3,839,500. Dilution here is driven primarily by the pre-funded warrants from the July 2025 equity private placement. They cover 96,158,250 shares at a fixed nominal exercise price of $0.0100, so the share count is set by contract and does not move with the market.