secwatch.observer — SEC 8-K summary
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Issuer:     Modular Medical, Inc. (MODD)
CIK:        0001074871
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0001013762-25-002793
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Modular Medical raises ~$12.5M in private placement; funds MODD1 tubeless FDA submission
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- 6,247,656 Units at $1.92/Unit; each Unit = 2 common shares + 1 warrant (exercise $1.12, 4-yr term).
- Concurrent direct placement of 260,417 Units for ~$0.5M to foreign investor under Regulation S.
- Proceeds for general corporate, supply-chain, MODD1 tubeless FDA submission (target Q3 2025), CE mark.
- Officers/directors purchased 374,478 Units; lock-up 60 days; no Variable Rate Transactions for 1 year.
- Placement agent Newbridge receives 7.25% fee, $50k expenses, and 874,672 warrants at $1.40.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074871/000101376225002793/0001013762-25-002793-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074871/000101376225002793/ea0235502-8k_modular.htm
  HTML page:      https://secwatch.observer/filing/0001013762-25-002793

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer