Modular Medical Announces 1-for-30 Reverse Split to Meet Nasdaq $1 Threshold
Modular Medical will enact a 1-for-30 reverse stock split on March 31, 2026, reducing shares from 139,810,797 to about 4,660,360 to meet Nasdaq’s $1 minimum bid requirement. The split leaves authorized shares and par value unchanged while converting every 30 pre-split shares into one post-split share.
1. Reverse Split Mechanics
Modular Medical will implement a 1-for-30 reverse stock split at 5:30am ET on March 31, 2026, consolidating 139,810,797 pre-split shares into approximately 4,660,360 post-split shares. The company will continue trading on Nasdaq Capital Market under the symbol “MODD” with a new CUSIP number 60785L306.
2. Listing Compliance Rationale
The split was approved by shareholders at the January 23, 2026 annual meeting to boost the per-share price above Nasdaq’s $1.00 minimum bid requirement. Authorized share count and par value per share remain unchanged.
3. Shareholder and Equity Award Impact
Holders of every 30 pre-split shares will receive one post-split share, with cash paid for fractional positions. Outstanding equity awards and reserved shares under incentive plans will be adjusted by dividing share counts by 30 and multiplying exercise prices by 30, with the transfer agent coordinating share exchanges.