© Reuters.
SAN DIEGO – Modular Medical, Inc. (NASDAQ:MODD), a medical device company in the development stage, has announced the initiation of an underwritten public offering of its common stock shares, along with pre-funded warrants to purchase additional shares.
The offering is contingent upon market conditions and there are no guarantees regarding the completion or the specifics of the offering. The company has also proposed to give the underwriters a 30-day option to buy an extra 15% of the total shares or pre-funded warrants.
Titan Partners Group, a division of American Capital Partners, is serving as the sole book-running manager for this offering. The sale of shares and warrants by Modular Medical is in accordance with an effective “shelf” registration statement on Form S-3, which was filed with the Securities and Exchange Commission (SEC) on April 8, 2022, amended on April 15, 2022, and declared effective by the SEC on April 19, 2022. Interested parties can access the preliminary prospectus supplement and the accompanying prospectus from the SEC’s website or directly from Titan Partners Group.
This announcement does not serve as an offer to sell or a solicitation of an offer to buy the securities. The sale of these securities will not be lawful in any jurisdiction where such offer, solicitation, or sale would be prohibited before registration or qualification under the securities laws of that jurisdiction.
Modular Medical is focused on innovating insulin delivery technology to make high-quality insulin delivery both affordable and easy to use, with the goal of expanding access to optimal glycemic control beyond highly experienced users to a broader population. The company was founded by Paul DiPerna, who previously established Tandem Diabetes and was the inventor of the t:slim insulin pump.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
