MODD · Modular Medical, Inc.

Summary

Modular Medical, Inc. entered into a placement agency agreement with Maxim Group LLC and securities purchase agreements with investors for a best-efforts public offering of 62,098,000 common shares, pre-funded warrants for 6,000,000 shares, and common warrants for 68,098,000 shares, priced at $0.1762 per unit, generating $12 million in gross proceeds. The offering closed on March 4, 2026, under an effective S-1 registration statement.

Key takeaways

• Entered Placement Agency Agreement with Maxim Group LLC on March 3, 2026
• Offered 62,098,000 common shares and pre-funded warrants for 6,000,000 shares
• Issued common warrants for 68,098,000 shares at $0.1762 exercise price, expiring March 4, 2031
• Gross proceeds of $12 million before 7% placement fee and $100,000 expenses
• 90-day lock-up for directors/executives; 45-day restriction on new issuances
• Offering closed March 4, 2026 per S-1 (No. 333-293842) effective March 3, 2026