---
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"
generated_at: "2026-05-15T18:31:43.531554+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Modular Medical raises $12M via public offering of 68M shares and warrants

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-024671
- JSON: https://secwatch.observer/filing/0001213900-26-024671.json
- Plain text: https://secwatch.observer/filing/0001213900-26-024671.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Maxim Group LLC
  - Value: cash fee equal to 7% of the gross proceeds
  - Effective: 2026-03-03
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1074871/000121390026024671/0001213900-26-024671-index.htm
- Material Agreements
  Modular Medical, Inc. entered into Securities Purchase Agreements with multiple investors valued at gross proceeds of approximately $12 million (effective 2026-03-03).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: multiple investors
  - Value: gross proceeds of approximately $12 million
  - Effective: 2026-03-03
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1074871/000121390026024671/0001213900-26-024671-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.