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Modular Medical Prices $10M Public Offering Of 9,090,910 shares At $1.10/Share

Author: Benzinga Newsdesk | February 16, 2024 02:57am

Modular Medical has priced its underwritten public offering (the "offering") of 9,090,910 shares of its common stock, led by Manchester Explorer, L.P., which is managed by Jeb Besser, Modular Medical's Chief Executive Officer, and Morgan Frank, a member of the Company's board of directors, and other existing institutional investors. The shares of common stock are being sold at a price to the public of $1.10 per share. In addition, Modular Medical has granted the underwriter a 30-day option to purchase up to 1,321,989 additional shares of its common stock.

Posted In: MODD