{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-024671","form_type":"8-K","ticker":"MODD","cik":"0001074871","company_name":"Modular Medical, Inc.","filed_at":"2026-03-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:34.505137+00:00","generated_at":"2026-05-15T18:31:43.531554+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Modular Medical raises $12M via public offering of 68M shares and warrants","bullets":["Gross proceeds ~$12M from sale of 68,098,000 shares (or pre-funded warrants) and 68,098,000 warrants at $0.1762/unit.","Warrants exercisable immediately at $0.1762, expire in five years.","Maxim Group LLC acted as sole placement agent; lock-up agreements for directors/officers for 90 days.","Offering closed March 4, 2026; proceeds for general corporate purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-024671","json":"https://secwatch.observer/filing/0001213900-26-024671.json","markdown":"https://secwatch.observer/filing/0001213900-26-024671.md","text":"https://secwatch.observer/filing/0001213900-26-024671.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1074871/000121390026024671/0001213900-26-024671-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1074871/000121390026024671/ea0280388-8k_modular.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T18:31:43.531554+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4ff24e498f9f264c311035c243ad71d042a0f143","claim":"Modular Medical, Inc. entered into Placement Agency Agreement with Maxim Group LLC valued at cash fee equal to 7% of the gross proceeds (effective 2026-03-03).","evidence_excerpt":"On March 3, 2026, Modular Medical, Inc. (the “Company”) entered into a placement agency agreement (the “Placement Agency Agreement”) with Maxim Group LLC (the “Placement Agent”) and securities purchase agreements (the “Securities Purchase Agreements”) with multiple investors, relating to a best-efforts offering (the “Offering”) of (i) 62,098,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), (ii) pre-funded warrants (the “pre-funded warrants”) to purchase 6,000,000 shares of Common Stock, and (iii) accompanying warrants exercisable to purchase up to 68,098,000 shares of Common Stock (the “common warrants”). The Company received gross proceeds of approximately $12 million from the Offering, before deducting placement agent fees and offering expenses. Pursuant to the Placement Agency Agreement, the Company paid the Placement Agent a cash fee equal to 7% of the gross proceeds received from the Offering and reimbursed the Placement Agent for its expe","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1074871/000121390026024671/0001213900-26-024671-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"underwriting"},{"label":"Counterparty","value":"Maxim Group LLC"},{"label":"Value","value":"cash fee equal to 7% of the gross proceeds"},{"label":"Effective","value":"2026-03-03"}],"fact_type":"material_agreement"},{"claim_id":"dc93fd13e81f98ddb034bd152690cdd8d456963b","claim":"Modular Medical, Inc. entered into Securities Purchase Agreements with multiple investors valued at gross proceeds of approximately $12 million (effective 2026-03-03).","evidence_excerpt":"On March 3, 2026, Modular Medical, Inc. (the “Company”) entered into a placement agency agreement (the “Placement Agency Agreement”) with Maxim Group LLC (the “Placement Agent”) and securities purchase agreements (the “Securities Purchase Agreements”) with multiple investors, relating to a best-efforts offering (the “Offering”) of (i) 62,098,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), (ii) pre-funded warrants (the “pre-funded warrants”) to purchase 6,000,000 shares of Common Stock, and (iii) accompanying warrants exercisable to purchase up to 68,098,000 shares of Common Stock (the “common warrants”). The Company received gross proceeds of approximately $12 million from the Offering, before deducting placement agent fees and offering expenses.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1074871/000121390026024671/0001213900-26-024671-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"multiple investors"},{"label":"Value","value":"gross proceeds of approximately $12 million"},{"label":"Effective","value":"2026-03-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}