Modular Medical Announces Pricing of $8.2 Million Public Offering
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Modular Medical, Inc. has announced the pricing of an $8.2 million public offering, involving 5,450,573 shares of its common stock. The offering is led by existing institutional investors, including Manchester Explorer, L.P.
November 22, 2024 | 2:30 am
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Modular Medical has announced a public offering of $8.2 million, pricing 5,450,573 shares of common stock. This move is led by existing institutional investors.
The announcement of a public offering typically leads to a short-term decrease in stock price due to dilution of existing shares. The involvement of institutional investors may provide some stability, but the immediate impact is likely negative.
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