Modular Medical Announces $12.0 Million Public Offering Priced at a Premium to Market (Form 8-K)

Modular Medical Announces $12.0 Million Public Offering Priced at a Premium to Market

SAN DIEGO, CA / ACCESS Newswire / March 3, 2026 / Modular Medical, Inc. (NASDAQ:MODD) ("Modular Medical" or the "Company"), an insulin delivery technology company with the first FDA-cleared patch pump designed specifically to target all adult "almost-pumpers" with its user-friendly and affordable design, today announced the pricing of a public offering with new and existing investors of 68,098,000 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to an aggregate of 68,098,000 shares of its 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 gross proceeds from the offering, before deducting placement agent fees and other offering expenses, are expected to be approximately $12.0 million. The closing of the offering is expected to occur on or about March 4, 2026, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent for the offering.

The securities described above are being offered pursuant to a registration statement on Form S-1, (File No. 333-293842), which was declared effective by the Securities and Exchange Commission (the "SEC") on March 3, 2026. The offering is being made only by means of a prospectus which forms a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC's website at www.sec.gov and may also be obtained by contacting Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at [email protected].