Modular Medical Announces Proposed Public Offering; No Terms Disclosed

Modular Medical, Inc. (NASDAQ:MODD) ("Modular Medical"), an insulin delivery technology company with the first FDA-cleared patch pump designed specifically to target all adult "almost-pumpers" with its user-friendly and affordable design, today announced that it has commenced an underwritten public offering (the "offering") of shares of its common stock and warrants to purchase shares of its common stock. The shares of the common stock and the accompanying warrants are immediately separable and will be issued separately but can only be purchased together in this offering.

Modular Medical expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the aggregate number of shares of its common stock and /or warrants sold in the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. All shares of common stock and warrants to be sold in the proposed offering will be sold by Modular Medical.

Newbridge Securities Corporation is acting as the sole bookrunner for the proposed offering.