Modular Medical Inc. (NASDAQ: MODD) announced the pricing of a registered direct offering of 750,000 shares of common stock at $4.50 per share. The medical device company expects to receive approximately $3.4 million in gross proceeds before deducting placement agent fees and other expenses.

The offering is expected to close on or about April 21, 2026, subject to customary closing conditions. Maxim Group LLC serves as the sole placement agent for the transaction.

The securities are being offered under a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on May 22, 2025. The company will file a prospectus supplement with the SEC relating to the offering.

Modular Medical develops insulin delivery technology and aims to launch what it describes as next-generation insulin delivery devices. The company was founded by Paul DiPerna, who previously founded Tandem Diabetes in 2005 and designed its t:slim insulin pump.

The San Diego-based company focuses on developing insulin delivery systems intended to improve access to diabetes care technology. Information about the offering is based on a company press release.