secwatch.observer — SEC 8-K summary
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Issuer:     Modular Medical, Inc. (MODD)
CIK:        0001074871
Form:       8-K
Filed at:   2023-05-17T23:59:59+00:00
Accession:  0001213900-23-040917
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Modular Medical prices upsized $9.4M public offering of units at $2.13/unit
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- Offering of 8,816,900 common shares and warrants for 4,408,450 shares at $2.13/unit yields gross $9.4M.
- Net proceeds ~$8.3M; warrants exercisable at $1.22 for five years.
- Funds to finance operations through FDA approval, sales/marketing infrastructure, R&D, manufacturing.
- Underwriter Newbridge Securities; expected close May 18, 2023.
- 30-day over-allotment option for up to 1,322,534 shares and 661,267 warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074871/000121390023040917/0001213900-23-040917-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074871/000121390023040917/ea178793-8k_modular.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-040917

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