Modular Medical announces public offering of common stock and warrants

Modular Medical Inc. (NASDAQ: MODD) announced it has commenced an underwritten public offering of common stock shares and warrants to purchase common stock shares. The insulin delivery technology company stated the shares and warrants are immediately separable and will be issued separately but can only be purchased together in this offering.

The company expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the aggregate number of shares and warrants sold in the offering. All securities will be sold by Modular Medical, according to the company's statement.

Newbridge Securities Corporation is acting as the sole bookrunner for the proposed offering. The offering is subject to market and other conditions, with no assurance provided regarding completion or the actual size or terms.

The offering is being conducted under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on May 15, 2025, and declared effective on May 22, 2025. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC.

Modular Medical develops insulin delivery technology and holds FDA clearance for its patch pump designed for adult users. The company was founded by Paul DiPerna, who previously founded Tandem Diabetes in 2005 and invented its t:slim insulin pump.

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