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An announcement from Modular Medical ( (MODD) ) is now available.
On March 3, 2026, Modular Medical, Inc. entered into placement and securities purchase agreements for a best-efforts public offering of 62,098,000 common shares, 6,000,000 pre-funded warrants and 68,098,000 common warrants, raising approximately $12 million in gross proceeds at a combined price of $0.1762 per share and warrant. The offering, which closed on March 4, 2026 and was made under an effective Form S-1 registration, includes five-year warrants subject to ownership caps and adjustment provisions, director and executive lock-ups for 90 days, and company restrictions on additional variable-rate equity issuance for 45 days, shaping near-term capital structure and trading dynamics for existing and new shareholders.
On March 3, 2026, the company also announced the pricing of this public offering, conducted with new and existing investors and placed solely by Maxim Group LLC. The transaction, priced at a premium to market and backed by lock-up and issuance restrictions, bolsters Modular Medical’s balance sheet as it advances its insulin delivery platform, while concentrating potential dilution and warrant overhang into a defined five-year window for investors.
More about Modular Medical
Modular Medical, Inc. is a San Diego-based medical device company focused on next-generation insulin delivery technology for people with diabetes. Leveraging patented technologies and an FDA-cleared patch pump aimed at adult “almost-pumpers,” it seeks to offer user-friendly, affordable insulin delivery that extends advanced glycemic control beyond traditional “superusers.”
Average Trading Volume: 744,678
Technical Sentiment Signal: Sell
Current Market Cap: $15.62M
For an in-depth examination of MODD stock, go to TipRanks’ Overview page.