Modular Medical, Inc. (NASDAQ: MODD), an insulin delivery technology company focused on developing user-friendly and affordable insulin patch pumps for adult “almost-pumpers,” announced the pricing of its public offering, raising approximately $12.0 million in gross proceeds, before placement agent fees and offering expenses.
The offering consists of 68,098,000 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to an aggregate of 68,098,000 shares of common stock at a combined public offering price of $0.1762 per share (or pre-funded warrant) and accompanying warrant. The warrants will have an exercise price of $0.1762 per share, will be exercisable immediately, and will expire five years from the date of issuance. The offering is expected to close on or about March 4, 2026, subject to customary closing conditions.
Net proceeds from the offering are expected to be used for general corporate purposes and to support the continued development and commercialization of the Company’s insulin delivery technologies.
Lucosky Brookman LLP served as legal counsel to Modular Medical, Inc. in connection with the public offering. Maxim Group LLC acted as sole placement agent for the transaction.
