Modular Medical closes $8.2M public offering of 5.45M shares at $1.50/share

Modular Medical, Inc.

Offered 5,450,573 shares at $1.50/share; gross proceeds ~$8.2M before expenses.
Underwriter Titan Partners received warrants for 381,540 shares at $1.875 exercise price.
CEO Jeb Besser's fund Manchester Explorer, largest shareholder, participated as existing institutional investor.
Proceeds to fund operations, working capital, and general corporate purposes.
Lock-up agreements for 60 days from close on Nov 25, 2024; company restricted from issuing equity for 60 days.

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