Modular Medical Announces Pricing of $3.4 Million Registered Direct Offering of Common Stock (Form 8-K)

Modular Medical Announces Pricing of $3.4 Million Registered Direct Offering of Common Stock

SAN DIEGO, CA / ACCESS Newswire / April 19, 2026 / Modular Medical, Inc. ("Modular Medical" or the "Company") (NASDAQ:MODD), a leader in innovative, patient-centric insulin delivery, today announced the pricing of a registered direct offering (the "Offering") consisting of 750,000 shares of the Company's common stock at an offering price of $4.50 per share. The gross proceeds to the Company from the Offering are estimated to be approximately $3.4 million before deducting placement agent fees and other offering expenses. The Offering is expected to close on or about April 21, 2026, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the Offering.

The securities are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-287313), which was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on May 22, 2025. The Offering will be made only by means of a prospectus supplement and the accompanying prospectus that form a part of such registration statement. A prospectus supplement relating to the Offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement and accompanying prospectus can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, via email at [email protected], or telephone at (212) 895-3500.