---
schema_version: "secwatch.filing_event.v1"
accession: "0001019056-21-000551"
form_type: "8-K"
ticker: "MODD"
cik: "0001074871"
company_name: "Modular Medical, Inc."
filed_at: "2021-10-29T23:59:59+00:00"
generated_at: "2026-06-28T16:05:10.747619+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Modular Medical secures $3M revolving credit facility at 12%; officers buy $250k in stock

## Summary
- CEO Ellen O'Connor Vos and Chairman Paul DiPerna purchased 92,592 shares at $2.70/share for $250,000 total.
- Company entered $3M revolving credit facility with Manchester Explorer L.P., secured by all assets.
- Interest rate 12% on drawn amounts; maturity March 15, 2022; no draws to date.
- Principal must be repaid earlier if company raises >$12M in equity before maturity.
- Event of default allows acceleration; note is secured by first priority lien on all property.

## SEC filing metadata
- accession: 0001019056-21-000551
- form_type: 8-K
- ticker: MODD
- cik: 0001074871
- company_name: Modular Medical, Inc.
- filed_at: 2021-10-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01, 2.03, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1074871/000101905621000551/0001019056-21-000551-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1074871/000101905621000551/modular_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001019056-21-000551
- JSON: https://secwatch.observer/filing/0001019056-21-000551.json
- Plain text: https://secwatch.observer/filing/0001019056-21-000551.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.