Modular Medical enters into $6.5M ATM sales agreement with Leerink Partners

Modular Medical, Inc.

Agreement allows sale of common stock from time to time for up to $6.5M in gross proceeds.
Leerink will receive a 3% commission on gross proceeds from shares sold.
Shares offered under existing S-3 shelf registration; Company has no obligation to sell.
Company may suspend or terminate sales at any time in its sole discretion.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Modular Medical, Inc. entered into ATM Agreement with Leerink Partners LLC valued at up to $6,500,000 (effective 2023-11-22).

Action: entry
Agreement: atm program
Counterparty: Leerink Partners LLC
Value: up to $6,500,000
Effective: 2023-11-22

Exact text from the filing

On November 22, 2023, Modular Medical, Inc. (the "Company") entered into a Sales Agreement (the "ATM Agreement") with Leerink Partners LLC ("Leerink") under which the Company may offer and sell, from time to time at its sole discretion, shares of the Company’s common stock, par value $0.001 per share (the "Common Stock"), for aggregate gross proceeds of up to $6,500,000 through an "at the market offering" program under which Leerink will act as sales agent or principal.

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Modular Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-089664

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