IPO - Modular Medical, Inc.

Form Type: S-3

Filing Date: 2025-05-15

Corporate Action: Ipo

Type: New

Accession Number: 000121390025044188

Filing Summary: Modular Medical, Inc. has filed a registration statement with the SEC under Form S-3 to offer up to $75,000,000 in aggregate of various securities including common stock, preferred stock, debt securities, warrants, and units. The company focuses on innovative insulin pump technology aimed at improving diabetes treatment by increasing user accessibility and reducing costs associated with insulin pump therapy. They have recently cleared the FDA for their MODD1 pump and plan to commercialize it in fiscal 2026, with potential expansion into international markets contingent upon receiving CE mark clearance. The document outlines a detailed prospectus highlighting the offerings’ nature, market strategy, and operational goals. The company positions itself as addressing the needs of individuals with Type 1 and Type 2 diabetes through user-friendly and affordable insulin delivery systems. The last reported sale price of the common stock prior to the filing was $1.02 per share.