Modular Medical Announces 1-for-30 Reverse Stock Split

Modular Medical (NASDAQ:MODD) will effect a 1-for-30 reverse stock split effective March 31, 2026 at 5:30am ET to increase its per-share trading price and meet Nasdaq's $1.00 minimum bid requirement.

Rhea-AI Summary

Modular Medical (NASDAQ:MODD) will effect a 1-for-30 reverse stock split effective March 31, 2026 at 5:30am ET to increase its per-share trading price and meet Nasdaq's $1.00 minimum bid requirement. The company will trade on a split-adjusted basis under MODD with new CUSIP 60785L306.

Outstanding shares will be reduced from 139,810,797 pre-split to approximately 4,660,360 post-split. Fractional shares will be paid in cash. Equity awards and warrants will be adjusted (shares ÷30; exercise prices ×30). Shareholder approval occurred January 23, 2026; transfer agent Colonial Stock Transfer is the exchange agent.

Positive

• Reverse split ratio set at 1-for-30
• Outstanding shares reduced from 139,810,797 to ~4,660,360
• Action intended to meet Nasdaq $1.00 minimum bid requirement

Negative

• Equity award exercise prices will be multiplied by 30, reducing option leverage
• Holders of fractional pre-split shares will receive cash in lieu, not shares

Argus Mar 27 session

-9.83% close to close Open Argus

Details

News Market Reaction – MODD

In the Mar 27 session, MODD declined 9.83%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -9.8% in the session following this news. A negative reaction despite the mechanical...

Analysis

The stock moved -9.8% in the session following this news. A negative reaction despite the mechanical nature of the 1‑for‑30 reverse split would fit a pattern where balance-sheet and listing-compliance steps highlight underlying risk. The split aims to push the price toward Nasdaq’s $1.00 minimum while shrinking outstanding shares from 139,810,797 to about 4,660,360. Prior financings, including a $12.0M best-efforts offering and earlier public offerings, underscore ongoing capital needs that could weigh on sentiment.

Key Figures

Reverse split ratio: 1-for-30 Effective time: 5:30am ET, March 31, 2026 Post-split start: March 31, 2026 +5 more

Reverse split ratio

1-for-30

Common stock reverse split effective March 31, 2026

Effective time

5:30am ET, March 31, 2026

Reverse stock split effectiveness

Post-split start

March 31, 2026

Split-adjusted trading on Nasdaq Capital Market

New CUSIP

60785L306

CUSIP for split-adjusted common stock

Pre-split shares

139,810,797 shares

Outstanding common stock before reverse split

Post-split shares

≈4,660,360 shares

Outstanding common stock after reverse split

Minimum bid requirement

$1.00

Nasdaq minimum bid price goal for continued listing

Share consolidation

30 pre-split into 1

Combination and reclassification of common shares

Historical Context

5 past events · Latest: Mar 03

5 events

1. Mar 03

   Premium-priced offering

   24h Move

   +7.0%

   Raised about $12M in a best-efforts deal priced at a premium.

2. Feb 04

   Manufacturing milestone

   24h Move

   -4.4%

   Announced validation production for Pivot patch pump ahead of launch.

3. Dec 31

   Nasdaq extension

   24h Move

   +0.6%

   Received 180-day extension to cure Nasdaq minimum bid deficiency.

4. Dec 10

   Dilutive offering priced

   24h Move

   -30.5%

   Priced $4.68M underwritten equity and warrant offering at low prices.

5. Dec 09

   Offering launched

   24h Move

   -30.5%

   Announced proposed underwritten stock and warrant offering from S-3 shelf.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reverse stock split, nasdaq capital market, cusip, definitive proxy statement, +4 more

8 terms

reverse stock split financial

"today announced that it will effect a 1-for-30 reverse stock split"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

nasdaq capital market regulatory

"trading on a split-adjusted basis on the Nasdaq Capital Market"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

cusip financial

"under the same symbol "MODD" with the new CUSIP number 60785L306"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

definitive proxy statement regulatory

"found in the Company's Definitive Proxy Statement filed with the"

A Definitive Proxy Statement is a detailed document that a company sends to its shareholders before a big meeting, like voting on important decisions. It explains what's being voted on and gives important information so shareholders can make informed choices. It matters because it helps shareholders understand and participate in key company decisions.

securities and exchange commission regulatory

"Proxy Statement filed with the Securities and Exchange Commission"

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

equity incentive plans financial

"common stock reserved for issuance under the Company's equity incentive plans"

Equity incentive plans are company programs that pay employees, executives, or directors with company stock, stock options, or share units instead of or in addition to cash, aiming to align their interests with shareholders—like giving team members a stake in the house they help build. For investors this matters because such plans can motivate better company performance but also dilute existing ownership and increase reported compensation costs, so they affect future earnings, voting power, and share value.

warrants financial

"equity incentive plans and warrants outstanding immediately prior to the"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

View in glossary

transfer agent financial

"The Company's transfer agent, Colonial Stock Transfer Co., Inc., is acting"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN DIEGO, CA / ACCESS Newswire / March 26, 2026 / Modular Medical, Inc. ("Modular Medical" or the "Company") (NASDAQ:MODD), an innovative insulin delivery technology company, today announced that it will effect a 1-for-30 reverse stock split of its outstanding common stock. The reverse stock split will become effective at 5:30am ET on March 31, 2026. The common stock is expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market ("Nasdaq") under the same symbol "MODD" when the market opens on March 31, 2026, with the new CUSIP number 60785L306.

The reverse stock split was approved by the Company's shareholders at the Company's fiscal 2026 Annual Meeting, held on January 23, 2026. The reverse stock split is intended to increase the per share trading price of the Company's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on Nasdaq. The reverse stock split will reduce the number of outstanding shares of the Company's common stock from 139,810,797 shares pre-reverse split to approximately 4,660,360 shares post-reverse split.

The number of authorized shares of common stock and the par value per share will remain unchanged. As a result of the reverse stock split, every 30 shares of the Company's pre-reverse split common stock will be combined and reclassified into one share of common stock, as applicable. Proportionate voting rights and other rights of such holders will not be affected by the reverse stock split. Holders of fractional shares will be paid cash in lieu of shares.

All equity awards outstanding and common stock reserved for issuance under the Company's equity incentive plans and warrants outstanding immediately prior to the reverse stock split will be appropriately adjusted by dividing the number of affected shares of common stock by 30 and, as applicable, multiplying the exercise price by 30, as a result of the reverse stock split.

The Company's transfer agent, Colonial Stock Transfer Co., Inc., is acting as exchange agent for the reverse stock split and will send instructions to shareholders of record regarding the exchange of certificates for common stock for uncertificated shares of common stock. Shareholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to the brokers' particular processes, and will not be required to take any action in connection with the reverse stock split.

Additional information about the reverse stock split can be found in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission (the "SEC") on January 8, 2026. The Proxy Statement is available at www.sec.gov or at the Company's website at www.modular-medical.com.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statements contained in this press release, including but not limited to, the timing of the Company's reverse stock split; successful development of Modular Medical's proprietary technologies, whether the market will accept Modular Medical's products and services; anticipated consumer demand for the Company's products; general economic, and industry or political conditions in the United States or internationally; and the occurrence of future events or circumstances, as well as other risk factors and business considerations described in Modular Medical's SEC filings, including its annual report on Form 10-K. Any forward-looking statements in this press release should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent Modular Medical's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. Modular Medical assumes no obligation to update these forward-looking statements, except as required by law.

About Modular Medical

Modular Medical, Inc. (Nasdaq: MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the Company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. The Company's mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond "superusers" and providing "diabetes care for the rest of us."

Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

Pivot is a trademark of Modular Medical in the United States. All other trademarks mentioned herein are the property of their respective owners.

CONTACT:
Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
+1 (617) 399-1741
IR@modular-medical.com

SOURCE: Modular Medical, Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the reverse stock split ratio and effective date for Modular Medical (MODD)?

The reverse stock split is 1-for-30 and becomes effective on March 31, 2026 at 5:30am ET. According to the company, trading will reflect the split-adjusted share count when Nasdaq opens on that date, using new CUSIP 60785L306.

How many Modular Medical (MODD) shares will be outstanding after the reverse split?

Post-reverse split outstanding shares will be approximately 4,660,360. According to the company, this reduces the pre-split total of 139,810,797 shares by combining every 30 pre-split shares into one post-split share.

Why is Modular Medical (MODD) implementing a 1-for-30 reverse split?

The split is intended to increase the per-share trading price to satisfy Nasdaq's $1.00 minimum bid requirement. According to the company, shareholders approved the action at the January 23, 2026 annual meeting.

Will Modular Medical (MODD) change its Nasdaq ticker or CUSIP after the reverse split?

The Nasdaq ticker will remain MODD; however, the company will use a new CUSIP, 60785L306. According to the company, shares will trade on a split-adjusted basis under the same symbol when the market opens March 31, 2026.

How will fractional shares be handled for Modular Medical (MODD) shareholders after the split?

Holders of fractional shares will receive cash in lieu of fractional shares. According to the company, the exchange agent will calculate cash payments and send instructions to shareholders of record.

What happens to employee stock options and warrants for Modular Medical (MODD) after the split?

Outstanding equity awards and warrants will be adjusted by dividing share counts by 30 and multiplying exercise prices by 30. According to the company, these mechanical adjustments preserve proportional ownership but change strike economics.