Modular Med Inc SEC Filings

Dropbox, Inc. (ticker: DBX) filed a Form 4 on 2 July 2025 reporting two open-market sales of Class A common stock by Chief Financial Officer Timothy Regan.

• Transaction dates & volumes: 2,500 shares sold on 30 Jun 2025 at $28.40; 10,000 shares sold on 1 Jul 2025 at a weighted-average $27.9392.
• Total shares sold: 12,500, representing approximately 2.4 % of the executive’s post-sale holdings.
• Remaining ownership: 516,094 Class A shares held directly.
• Trading plan: All sales executed under a Rule 10b5-1 plan adopted on 15 May 2024, indicating pre-arranged, schedule-based transactions.
• Equity mix: Remaining position includes restricted stock awards/units that vest through 15 Feb 2029; any unvested awards cancel if employment ends.

The filing discloses no derivative transactions and contains no indication of additional insider participation. While insider sales can be perceived negatively, the modest size relative to Regan’s continuing stake and the existence of a 10b5-1 plan mitigate potential signaling risk. No operational or financial performance metrics were provided in this document.

Borr Drilling Limited (BORR) has launched a preliminarily marketed public offering of 50 million common shares via a two-step settlement structure. Approximately 30 million shares are expected to settle on 7 July 2025 (the “First Settlement”) while the remaining 20 million will settle on or about 7 August 2025 (the “Second Settlement”) only if shareholders approve an increase in authorised share capital at a Special General Meeting (SGM) on 6 August 2025. The shares are listed on the NYSE; the last reported price on 1 July 2025 was $1.95.

Net proceeds—whose exact amount will depend on final pricing—are earmarked for general corporate purposes such as debt service, capital expenditure and working-capital needs. The equity raise is also a condition precedent for agreed amendments to Borr’s financing package: commitments have been received to lift the Super Senior Revolving Credit Facility to $200 million (+$50 million), re-classify the $45 million guarantee line, and add a new $34 million senior secured RCF, jointly raising available liquidity by more than $100 million and easing covenant thresholds (lower liquidity minimum, higher leverage ceiling, lower coverage ratios).

Operationally, Borr has booked 13 new contract awards/LOIs/LOAs in 2025, adding ~3,010 potential rig-days and $366 million of revenue backlog (average day-rate $121k). Contract coverage now stands at 84% for 2025 and 45% for 2026 at average day-rates of $144k and $141k, respectively.

Leadership refresh: CCO Bruno Morand will become CEO on 1 September 2025; current CEO Patrick Schorn will transition to Executive Chair, while Chairman Tor Olav Trøim will remain on the board. Investor Granular Capital’s CIO, Thiago Mordehachvili, is nominated to join the board, contingent on SGM approval to expand board size.

Several insiders—Schorn ($1 m), Morand ($0.3 m) and Drew Holding Ltd. ($10 m)—intend to subscribe, all electing to receive shares in the Second Settlement. If the SGM fails, only the First Settlement closes, leaving the remaining 20 million shares undelivered.

Barclays Bank PLC is marketing a new two-year structured note—Capped Buffer GEARS—tied to the price performance of the S&P 500® Index. Each $10 Security offers 2.0× leveraged participation in any positive index return, but gains are capped at 21.65-23.65% (exact rate set on the July 15, 2025 Trade Date). Investors receive:

• Full principal repayment at maturity if the Index is flat or down less than 10% (Buffer).
• Loss exposure of 1% for every 1% decline beyond the 10% Buffer, up to a maximum 90% loss of principal.

Key indicative terms include a Downside Threshold at 90% of the Initial Index Level, Upside Gearing of 2.0, no periodic coupons, and maturity on July 20, 2027. The notes price at par ($10), yet Barclays’ internal models estimate fair value between $9.459-$9.959, reflecting embedded selling concessions, hedging costs and issuer profit. UBS Financial Services acts as placement agent for fee-based advisory accounts; no sales commission is paid.

Risk considerations dominate the disclosure: the notes are unsecured, unsubordinated obligations of Barclays and subject to U.K. bail-in powers, market risk of the S&P 500, limited liquidity (no exchange listing and discretionary secondary market making only), tax uncertainty (potential prepaid forward contract treatment), and valuation risk (secondary prices likely below issue price).

Illustrative payoff scenarios show that a 30% Index gain yields the maximum $12.165 payment, while a 60% decline results in only $5.00—demonstrating the capped upside and buffered but significant downside.

Barclays Bank PLC is marketing a new two-year structured note—Capped Buffer GEARS—tied to the price performance of the S&P 500® Index. Each $10 Security offers 2.0× leveraged participation in any positive index return, but gains are capped at 21.65-23.65% (exact rate set on the July 15, 2025 Trade Date). Investors receive:

• Full principal repayment at maturity if the Index is flat or down less than 10% (Buffer).
• Loss exposure of 1% for every 1% decline beyond the 10% Buffer, up to a maximum 90% loss of principal.

Key indicative terms include a Downside Threshold at 90% of the Initial Index Level, Upside Gearing of 2.0, no periodic coupons, and maturity on July 20, 2027. The notes price at par ($10), yet Barclays’ internal models estimate fair value between $9.459-$9.959, reflecting embedded selling concessions, hedging costs and issuer profit. UBS Financial Services acts as placement agent for fee-based advisory accounts; no sales commission is paid.

Risk considerations dominate the disclosure: the notes are unsecured, unsubordinated obligations of Barclays and subject to U.K. bail-in powers, market risk of the S&P 500, limited liquidity (no exchange listing and discretionary secondary market making only), tax uncertainty (potential prepaid forward contract treatment), and valuation risk (secondary prices likely below issue price).

Illustrative payoff scenarios show that a 30% Index gain yields the maximum $12.165 payment, while a 60% decline results in only $5.00—demonstrating the capped upside and buffered but significant downside.

Barclays Bank PLC is marketing a new two-year structured note—Capped Buffer GEARS—tied to the price performance of the S&P 500® Index. Each $10 Security offers 2.0× leveraged participation in any positive index return, but gains are capped at 21.65-23.65% (exact rate set on the July 15, 2025 Trade Date). Investors receive:

• Full principal repayment at maturity if the Index is flat or down less than 10% (Buffer).
• Loss exposure of 1% for every 1% decline beyond the 10% Buffer, up to a maximum 90% loss of principal.

Key indicative terms include a Downside Threshold at 90% of the Initial Index Level, Upside Gearing of 2.0, no periodic coupons, and maturity on July 20, 2027. The notes price at par ($10), yet Barclays’ internal models estimate fair value between $9.459-$9.959, reflecting embedded selling concessions, hedging costs and issuer profit. UBS Financial Services acts as placement agent for fee-based advisory accounts; no sales commission is paid.

Risk considerations dominate the disclosure: the notes are unsecured, unsubordinated obligations of Barclays and subject to U.K. bail-in powers, market risk of the S&P 500, limited liquidity (no exchange listing and discretionary secondary market making only), tax uncertainty (potential prepaid forward contract treatment), and valuation risk (secondary prices likely below issue price).

Illustrative payoff scenarios show that a 30% Index gain yields the maximum $12.165 payment, while a 60% decline results in only $5.00—demonstrating the capped upside and buffered but significant downside.

Barclays Bank PLC is marketing a new two-year structured note—Capped Buffer GEARS—tied to the price performance of the S&P 500® Index. Each $10 Security offers 2.0× leveraged participation in any positive index return, but gains are capped at 21.65-23.65% (exact rate set on the July 15, 2025 Trade Date). Investors receive:

• Full principal repayment at maturity if the Index is flat or down less than 10% (Buffer).
• Loss exposure of 1% for every 1% decline beyond the 10% Buffer, up to a maximum 90% loss of principal.

Key indicative terms include a Downside Threshold at 90% of the Initial Index Level, Upside Gearing of 2.0, no periodic coupons, and maturity on July 20, 2027. The notes price at par ($10), yet Barclays’ internal models estimate fair value between $9.459-$9.959, reflecting embedded selling concessions, hedging costs and issuer profit. UBS Financial Services acts as placement agent for fee-based advisory accounts; no sales commission is paid.

Risk considerations dominate the disclosure: the notes are unsecured, unsubordinated obligations of Barclays and subject to U.K. bail-in powers, market risk of the S&P 500, limited liquidity (no exchange listing and discretionary secondary market making only), tax uncertainty (potential prepaid forward contract treatment), and valuation risk (secondary prices likely below issue price).

Illustrative payoff scenarios show that a 30% Index gain yields the maximum $12.165 payment, while a 60% decline results in only $5.00—demonstrating the capped upside and buffered but significant downside.

Barclays Bank PLC is marketing a new two-year structured note—Capped Buffer GEARS—tied to the price performance of the S&P 500® Index. Each $10 Security offers 2.0× leveraged participation in any positive index return, but gains are capped at 21.65-23.65% (exact rate set on the July 15, 2025 Trade Date). Investors receive:

• Full principal repayment at maturity if the Index is flat or down less than 10% (Buffer).
• Loss exposure of 1% for every 1% decline beyond the 10% Buffer, up to a maximum 90% loss of principal.

Key indicative terms include a Downside Threshold at 90% of the Initial Index Level, Upside Gearing of 2.0, no periodic coupons, and maturity on July 20, 2027. The notes price at par ($10), yet Barclays’ internal models estimate fair value between $9.459-$9.959, reflecting embedded selling concessions, hedging costs and issuer profit. UBS Financial Services acts as placement agent for fee-based advisory accounts; no sales commission is paid.

Risk considerations dominate the disclosure: the notes are unsecured, unsubordinated obligations of Barclays and subject to U.K. bail-in powers, market risk of the S&P 500, limited liquidity (no exchange listing and discretionary secondary market making only), tax uncertainty (potential prepaid forward contract treatment), and valuation risk (secondary prices likely below issue price).

Illustrative payoff scenarios show that a 30% Index gain yields the maximum $12.165 payment, while a 60% decline results in only $5.00—demonstrating the capped upside and buffered but significant downside.

Barclays Bank PLC is marketing a new two-year structured note—Capped Buffer GEARS—tied to the price performance of the S&P 500® Index. Each $10 Security offers 2.0× leveraged participation in any positive index return, but gains are capped at 21.65-23.65% (exact rate set on the July 15, 2025 Trade Date). Investors receive:

• Full principal repayment at maturity if the Index is flat or down less than 10% (Buffer).
• Loss exposure of 1% for every 1% decline beyond the 10% Buffer, up to a maximum 90% loss of principal.

Key indicative terms include a Downside Threshold at 90% of the Initial Index Level, Upside Gearing of 2.0, no periodic coupons, and maturity on July 20, 2027. The notes price at par ($10), yet Barclays’ internal models estimate fair value between $9.459-$9.959, reflecting embedded selling concessions, hedging costs and issuer profit. UBS Financial Services acts as placement agent for fee-based advisory accounts; no sales commission is paid.

Risk considerations dominate the disclosure: the notes are unsecured, unsubordinated obligations of Barclays and subject to U.K. bail-in powers, market risk of the S&P 500, limited liquidity (no exchange listing and discretionary secondary market making only), tax uncertainty (potential prepaid forward contract treatment), and valuation risk (secondary prices likely below issue price).

Illustrative payoff scenarios show that a 30% Index gain yields the maximum $12.165 payment, while a 60% decline results in only $5.00—demonstrating the capped upside and buffered but significant downside.

Modular Medical, Inc. (Nasdaq: MODD) has filed its Form 10-K for the fiscal year ended March 31, 2025. The filing confirms that the Nevada-incorporated diabetes-focused medical device company remains a non-accelerated filer, smaller reporting company, and is not an emerging growth company. The report was filed on a timely basis and the registrant affirms that all required reports and interactive data files have been submitted during the preceding 12 months.

Capital structure and market data: as of June 16, 2025, the company had 54,247,388 shares of common stock outstanding. The aggregate market value of shares held by non-affiliates was $62.27 million based on the September 30, 2024 Nasdaq closing price.

The 10-K outlines a full set of standard disclosures, including risk factors (Item 1A), management’s discussion & analysis (Item 7), and financial statements (Item 8), but detailed revenue, earnings and cash-flow figures are not included in the excerpt provided. A lengthy Special Note Regarding Forward-Looking Statements lists more than a dozen risk considerations, mainly centred on:

• Obtaining FDA clearances for its insulin pump products.
• Financing needs and liquidity horizon.
• Competition from larger diabetes device manufacturers.
• Protection of intellectual property.
• Ability to hire and retain key personnel.

The company confirms it is not a shell company and that no restatement-triggering error corrections were included in the financials. No attestations under SOX 404(b) were provided, consistent with non-accelerated filer status.

Overall, the filing is largely procedural and centres on forward-looking risk disclosures rather than new financial performance metrics or strategic transactions.