Modular Medical prices $12 million public offering at $0.1762 per share

Modular Medical Inc. (NASDAQ: MODD) announced the pricing of a public offering of 68.1 million shares of common stock and accompanying warrants at $0.1762 per share. The insulin delivery technology company expects gross proceeds of approximately $12 million before fees and expenses.

The warrants will have an exercise price of $0.1762 per share, become exercisable immediately, and expire five years from issuance. The offering includes both new and existing investors and may include pre-funded warrants in lieu of common stock.

Maxim Group LLC serves as the sole placement agent for the offering. The company expects the offering to close on or about March 4, 2026, subject to customary closing conditions.

The securities are being offered under a registration statement on Form S-1 that became effective March 3, 2026, according to the company's statement. Modular Medical develops insulin delivery technology and has received FDA clearance for its patch pump designed for adult diabetes patients.

The company was founded by Paul DiPerna, who previously founded Tandem Diabetes in 2005 and invented its t:slim insulin pump.

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