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.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Modular Medical, Inc. issued approximately 2,747,314 shares of the Company’s common stock of warrant to holders of the Outstanding Warrants for holders agreed to exercise these ... warrants at the New Exercise Price; gross proceeds of approximately $3.7 million.

Security: warrant
Shares: approximately 2,747,314 shares of the Company’s common stock
Purchaser: holders of the Outstanding Warrants
Consideration: holders agreed to exercise these ... warrants at the New Exercise Price; gross proceeds of approximately $3.7 million

Exact text from the filing

agreed to exercise these 2025 Warrants at the New Exercise Price. As a result of entering into the Warrant Letters, the Company will receive gross proceeds of approximately $3.7 million, before deducting expenses related to the Company entering into the Warrant Letters. In consideration for the holders of the Outstanding Warrants agreeing to enter into the

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25 equity issuances filed in the last 30 days. Browse all equity issuances →

Modular Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-090336

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