Modular Medical Announces Full Exercise of Underwriter's Option to Purchase Additional Shares

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May 26, 2023

SAN DIEGO, CA / ACCESSWIRE / May 25, 2023 / Modular Medical, Inc. (the "Company" or "Modular Medical") (Nasdaq:MODD), a development stage insulin delivery technology company seeking to launch the next generation of easy to use and affordable insulin pump technology, today announced that the underwriter of the Company's previously announced public offering has exercised in full its option to purchase an additional 1,322,534 shares of its common stock and warrants to purchase 661,267 shares of its common stock. The warrants will be exercisable at $1.22 per share and will expire five years from the date of issuance.