Modular Medical Prices 68.1M Shares and Warrants at $0.1762 for $12M Raise
Modular Medical has priced a public offering of 68,098,000 common shares (or pre-funded warrants) and 68,098,000 accompanying warrants at $0.1762 each, targeting gross proceeds of roughly $12.0 million before fees. The offering closes on or about March 4, 2026, subject to customary closing conditions.
1. Offering Structure
Modular Medical is offering 68,098,000 common shares or pre-funded warrants alongside 68,098,000 detachable warrants at a combined public offering price of $0.1762 per share or warrant. The gross proceeds are expected to total approximately $12.0 million before placement agent fees and other expenses, with closing expected on or about March 4, 2026.
2. Warrant Terms
Each warrant is exercisable immediately upon issuance at an exercise price of $0.1762 per share and will expire five years from the date of issuance. Pre-funded warrants will convert into common shares upon payment of their nominal exercise price, allowing investors to avoid ownership limitations.
3. Registration and Agent
The offering is being made pursuant to an effective Form S-1 registration statement declared effective on March 3, 2026. Maxim Group LLC is serving as the sole placement agent for the transaction, which will be completed only by means of a prospectus.