Modular Medical Announces $4.4 Million Raised Through Warrant Exercise and Private Placement of New Warrants

Reuters
Sep 29
Modular Medical Announces $4.4 Million Raised Through Warrant Exercise and Private Placement of New Warrants

Modular Medical Inc. $(MODD)$, a provider of innovative insulin delivery technology, has announced the exercise of certain warrants issued in May 2023 and March 2025, generating approximately $4.4 million in gross proceeds. In connection with the immediate cash exercise of 6,504,731 existing warrants at a reduced price of $0.68 per share, the company will issue new unregistered warrants to purchase up to 3,252,366 shares of common stock at an exercise price of $0.84 per share. These new warrants are exercisable immediately and have a five-year term. The proceeds will be used for working capital and general corporate purposes. Further details are available in the company's recent SEC filings.

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