Modular Medical Announces \$12 Million Public Offering Priced at a Premium to Market

Key Highlights for Investors

• Public Offering Size and Structure: Modular Medical, Inc. (NASDAQ: MODD) has announced the pricing of a public offering for approximately \$12.0 million. The company is offering a total of 68,098,000 shares of its common stock (or pre-funded warrants in lieu of shares) and accompanying warrants to purchase up to an additional 68,098,000 shares.
• Pricing Details: The combined public offering price is set at \$0.1762 per share (or pre-funded warrant) and accompanying warrant. Notably, this price is described as a “premium to market,” signaling investor confidence and a potential positive indicator for the share value.
• Warrant Terms: The warrants included in the offering have an exercise price of \$0.1762 per share, are immediately exercisable, and will expire five years from the date of issuance. This structure provides flexibility for investors and could lead to future dilution if exercised, but also potentially strong capital inflow if the share price appreciates.
• Expected Closing and Use of Proceeds: The offering is expected to close on or about March 4, 2026, subject to customary closing conditions. The gross proceeds are expected to be approximately \$12.0 million before deducting placement agent fees and other offering expenses.
• Placement Agent: Maxim Group LLC is acting as the sole placement agent, underscoring the transaction’s credibility and institutional backing.
• Regulatory Compliance: The securities are being offered pursuant to a registration statement on Form S-1 that was declared effective by the SEC on March 3, 2026. The company advises that the offering is only made by means of a prospectus, and it will not be conducted in any jurisdiction where it would be unlawful.

Company Profile & Strategic Direction

About Modular Medical, Inc.: Modular Medical is a medical device company focused on launching next-generation insulin delivery technology. The company has developed the first FDA-cleared patch pump specifically targeting “almost-pumpers” – adults who are not currently using insulin pumps due to complexity or cost barriers.

Using patented technology, Modular Medical aims to eliminate the traditional tradeoff between complexity and efficacy, providing affordable, simple-to-use insulin delivery solutions. The company’s mission is to democratize access to advanced diabetes care, making high-quality glycemic control accessible beyond “superusers” to the broader diabetes population.

Modular Medical was founded by Paul DiPerna, a noted medical device professional and microfluidics engineer. DiPerna previously founded Tandem Diabetes in 2005 and was the inventor and designer of its well-known t:slim insulin pump.

Potential Impact for Shareholders

• Capital Raise and Growth Initiatives: The \$12 million capital injection will provide Modular Medical with additional resources to advance its commercial and product development objectives. This could accelerate time-to-market for new products and enhance the company’s competitive positioning.
• Pricing at a Premium: The offering price at a premium to the current market could signal institutional confidence and support for the company’s strategy, potentially boosting investor sentiment and share value.
• Warrant Overhang and Potential Dilution: Investors should note the possibility of share dilution in the future if warrants are exercised. However, this also suggests the company may receive further capital inflows if the share price appreciates.
• Regulatory Status: The fact that the registration statement was declared effective by the SEC supports the legitimacy and compliance of the offering.

Forward-Looking Statements

The press release contains forward-looking statements, including expectations about gross proceeds, the timing and completion of the offering, and the company’s future prospects. These statements are subject to risks and uncertainties, including those outlined in Modular Medical’s filings with the SEC and its Annual Report on Form 10-K. Actual results may differ materially from these statements.

Contact Information

Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
+1 (617) 399-1741

Disclaimer: This article includes forward-looking statements based on current expectations and projections about future events. Actual results could differ materially from those anticipated. Investors should conduct their own due diligence and consult their financial advisors before making any investment decisions. This article is not an offer to sell or a solicitation of an offer to buy any securities.

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