secwatch.observer — SEC 8-K summary
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Issuer:     Modular Medical, Inc. (MODD)
CIK:        0001074871
Form:       8-K
Filed at:   2025-09-23T23:59:59+00:00
Accession:  0001213900-25-090336
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074871/000121390025090336/0001213900-25-090336-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074871/000121390025090336/ea0258326-8k_modular.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-090336

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