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Modular Medical ( (MODD) ) has provided an announcement.
On April 19, 2026, Modular Medical, Inc. entered into a placement agency agreement with Maxim Group LLC for a registered direct offering of 750,000 common shares at $4.50 per share, expected to raise about $3.4 million in gross proceeds, with closing anticipated on or about April 21, 2026. As part of the deal, directors and executives agreed to 90-day lock-ups, while the company committed to a 45-day restriction on most new equity issuances after closing, moves that secure near-term capital while signaling a measure of supply discipline for existing shareholders.
The offering, conducted under an effective shelf registration statement, will provide additional funding to support Modular Medical’s efforts to commercialize its next-generation insulin delivery platform in a competitive diabetes care market. By reinforcing its balance sheet through equity financing, the company seeks to bolster its capacity to advance product deployment and execution, with implications for its market positioning against established insulin pump providers.
More about Modular Medical
Modular Medical, Inc. is a NASDAQ-listed medical device company focused on innovative, patient-centric insulin delivery technology for people with diabetes. Leveraging patented technologies, the company aims to make high-quality insulin pump therapy simpler, more affordable, and accessible beyond highly experienced “superusers,” positioning itself to broaden access to advanced glycemic control.
Average Trading Volume: 50,566
Technical Sentiment Signal: Sell
Current Market Cap: $21.81M
For an in-depth examination of MODD stock, go to TipRanks’ Overview page.