Modular Medical induces warrant exercise for ~$3.7M gross; issues new warrants at premium

Modular Medical, Inc.

Warrant holders exercise ~5.5M shares at $0.68/share (10% discount to NOCP), raising $3.7M.
Company issues ~2.75M new warrants (50% of exercised shares) with 5-year term at $0.84/share exercise price.
Newbridge Securities receives $400K fixed fee plus up to $50K expense reimbursement as servicing agent.
New warrants are unregistered and rely on Sections 3(a)(9) and 4(a)(2) exemptions.

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