Modular Medical, Inc. (MODD), a development-stage medical device company, priced a registered direct offering of 0.75 million shares at $4.50 per share. The gross proceeds from the offering are estimated at approximately $3.4 million.
The offering is expected to close on or about April 21, 2026.
Maxim Group LLC is acting as the sole placement agent.
The company focuses on the design, development, and commercialisation of insulin pumps. It's lead product MODD1, a two-part patch pump intended for type 1 and type 2 diabetes.
MODD has traded between $3.54 and $34.5 over the last year. The stock closed Friday's trade at $5.86.
MODD is currently down 20.82% at $4.64.
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