Modular Medical, Inc. (Nasdaq: MODD) today announced that it has commenced an underwritten public offering (the "offering") of shares of its common stock (or pre-funded warrants to purchase shares of its common stock in lieu thereof). Modular Medical also intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the aggregate number of shares of its common stock (or pre-funded warrants). The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. All of the shares of common stock and pre-funded warrants to be sold in the proposed offering will be sold by Modular Medical.
Titan Partners Group, a division of American Capital Partners, is acting as sole book-running manager for the proposed offering.
The offering is being made pursuant to an effective "shelf" registration statement on Form S-3 (File No. 333-264193) previously filed with the Securities and Exchange Commission (the "SEC") on April 8, 2022, as amended on April 15, 2022, and declared effective by the SEC on April 19, 2022. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC. Electronic copies of the preliminary prospectus and, when available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by visiting the SEC's website at www.sec.gov or by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at info@titanpartnersgrp.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.