Modular Medical raises $15M in public offering, uplists to Nasdaq

Modular Medical, Inc.

Priced public offering of 2.5M units at $6.00/unit for gross proceeds of $15M; each unit = 1 share + 1 warrant.
Common stock approved for listing on Nasdaq Capital Market under MODD; trading began Feb 10, 2022.
Warrants exercisable immediately at $6.60/share, expire in 5 years; shares and warrants separately tradeable.
Net proceeds for working capital, sales & marketing infrastructure, R&D, manufacturing, and repayment of promissory note.
Offering closed Feb 14, 2022; underwriters led by Oppenheimer & Co., with Benchmark and Lake Street as co-lead managers.

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