InvestmentApr 21, 2026, 12:26 PM
MODD to raise $3.375M via direct offering of 750,000 shares
AI Summary
Modular Medical, Inc. entered into a Placement Agency Agreement with Maxim Group LLC for a registered direct offering. The company plans to sell 750,000 shares of common stock, expecting to raise approximately $3.375 million in gross proceeds. The offering is anticipated to close on April 21, 2026, with the Placement Agent receiving a 7% cash fee and up to $75,000 for expenses.
Key Highlights
- Modular Medical to raise approximately $3.375 million in gross proceeds.
- Offering involves 750,000 shares of common stock.
- Placement Agent fee is 7% of gross proceeds.
- Placement Agent expenses reimbursed up to $75,000.
- Directors and executive officers subject to 90-day lock-up.
Price Impact
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