Modular Medical raises $8M via registered direct offering with Sio Capital Management

Modular Medical, Inc.

Offering: 449,438 shares at $4.45/share and pre-funded warrants for 1,348,314 shares at $4.44/warrant.
Private placement warrants for 1,438,202 shares at $6.60 exercise price, exercisable after 6 months for 5 years.
Gross proceeds $8M; net ~$7.4M; use for operations, product development, working capital.
Expected close May 5, 2022; Oppenheimer & Co. placement agent; 90-day equity issuance lock-up.

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