Solas Capital discloses 9.99% Modular Medical (MODD) position via stock and warrants

Rhea-AI Filing Summary

Solas Capital Management, LLC and Frederick Tucker Golden report amended beneficial ownership of Modular Medical, Inc. common stock. They beneficially own 552,171 shares, comprising 438,095 shares of common stock and 114,076 shares issuable upon exercise of warrants.

This position represents approximately 9.99% of the common stock, calculated using 5,413,160 shares outstanding as of June 22, 2026 plus the 114,076 warrant shares. An additional 62,679 warrant shares are excluded due to a 9.99% ownership blocker provision. All 552,171 shares are reported with shared voting and dispositive power and no sole power.

Key Figures

Beneficially owned shares: 552,171 shares Common stock held: 438,095 shares Shares issuable from warrants: 114,076 shares +3 more

6 metrics

Beneficially owned shares 552,171 shares Total beneficial ownership reported by Solas Capital Management, LLC and Frederick Tucker Golden

Common stock held 438,095 shares Portion of beneficial ownership represented by outstanding common shares

Shares issuable from warrants 114,076 shares Common stock issuable upon exercise of warrants included in beneficial ownership

Ownership percentage 9.99% Reported percentage of Modular Medical common stock beneficially owned

Shares outstanding 5,413,160 shares Common stock outstanding as of June 22, 2026, used in ownership calculation

Excluded warrant shares 62,679 shares Additional warrant shares excluded due to 9.99% ownership blocker provision

Key Terms

beneficial owners, Investment Advisers Act of 1940, blocker provision, shared voting power, +1 more

5 terms

beneficial owners financial

"may be deemed to be the beneficial owners of all shares of Common Stock"

Beneficial owners are the people or entities that actually enjoy the economic benefits and control of shares or other assets, even when legal title is held by someone else such as a broker, custodian or trustee. Investors pay attention because beneficial owners hold the real voting power, receive dividends and can influence strategy and takeover outcomes — like the driver of a car who uses and maintains it while the bank holds the title — so disclosure shows who truly controls and benefits.

Investment Advisers Act of 1940 regulatory

"Solas Capital Management, LLC is an investment adviser that is registered under the Investment Advisers Act of 1940"

A U.S. federal law that sets rules for people and firms who give investment advice, requiring them to register with regulators, be honest about conflicts, keep records, and follow basic standards of care. It matters to investors because those rules act like licensing and consumer protections — similar to having safety standards for a mechanic — helping ensure advisers act in clients’ financial interests and reducing the risk of fraud or misuse of funds.

blocker provision financial

"The foregoing excludes 62,679 shares of Common Stock issuable upon exercise of the Warrants because the Warrants contain a blocker provision"

shared voting power financial

"Shared Voting Power 552,171.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared Dispositive Power 552,171.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

FAQ

What percentage of Modular Medical (MODD) does Solas Capital currently report owning?

Solas Capital Management, LLC and Frederick Tucker Golden report beneficial ownership of approximately 9.99% of Modular Medical’s common stock. This is based on 5,413,160 shares outstanding plus 114,076 shares issuable upon warrant exercise.

How many Modular Medical (MODD) shares does Solas Capital beneficially own?

They report beneficial ownership of 552,171 shares of Modular Medical common stock. This includes 438,095 shares currently outstanding and 114,076 shares issuable upon exercise of warrants held by Solas Capital Management, LLC.

What is the ownership blocker on Solas Capital’s MODD warrants?

The warrants include a 9.99% ownership blocker. Because of this, 62,679 additional warrant shares are excluded, as exercising them would cause the holder and affiliates to own more than 9.99% of Modular Medical’s common stock.

How is the 9.99% ownership in Modular Medical (MODD) calculated?

The 9.99% beneficial ownership is based on 5,413,160 shares outstanding as of June 22, 2026, plus 114,076 shares of common stock issuable upon exercise of certain warrants held by Solas Capital, for a total denominator including those warrant shares.

Do Solas Capital and Frederick Tucker Golden have sole or shared voting power over MODD shares?

They report 0 shares with sole voting or dispositive power and 552,171 shares with shared voting and shared dispositive power. Both Solas Capital Management, LLC and Frederick Tucker Golden are listed with the same shared powers.

Who are the reporting persons in the Modular Medical (MODD) Schedule 13G/A?

The reporting persons are Solas Capital Management, LLC, a Delaware investment adviser, and Frederick Tucker Golden, its Portfolio Manager. Each may be deemed a beneficial owner of 552,171 shares of Modular Medical common stock.

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Available on EDGAR 08/14/2026 - 10:54 AM Accepted by SEC EDGAR 08/14/2026 - 10:53 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Modular Medical, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

60785L306

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 60785L306

1

Names of Reporting Persons

Solas Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 552,171.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 552,171.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

552,171.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

IA, HC, OO

SCHEDULE 13G

CUSIP Number(s): 60785L306

1

Names of Reporting Persons

FREDERICK TUCKER GOLDEN

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 552,171.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 552,171.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

552,171.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Modular Medical, Inc.
(b)	Address of issuer's principal executive offices: 10740 THORNMINT ROAD, SAN DIEGO, CALIFORNIA, 92127.
Item 2.
(a)	Name of person filing: Solas Capital Management, LLC Frederick Tucker Golden
(b)	Address or principal business office or, if none, residence: Solas Capital Management, LLC 1063 Post Road, 2nd Floor Darien, CT 06820 Frederick Tucker Golden c/o Solas Capital Management, LLC 1063 Post Road, 2nd Floor Darien, CT 06820
(c)	Citizenship: Solas Capital Management, LLC - Delaware Frederick Tucker Golden - United States
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 60785L306
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Solas Capital Management, LLC is an investment adviser that is registered under the Investment Advisers Act of 1940. Solas Capital Management, LLC, which serves as the investment manager to two private funds (the "Funds") and as sub-adviser to another private fund (the "Other Fund"), which hold securities for the benefit of their investors, and Mr. Frederick Tucker Golden, as Portfolio Manager of Solas Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owners of all shares of Common Stock held by the Funds and by the Other Fund. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, each of the Funds and the Other Fund expressly disclaims beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that any of the Funds and the Other Fund are the beneficial owner of any of the securities reported herein. This amount comprises beneficial ownership of 552,171 shares of Common Stock which consists of (i) 438,095 shares of Common Stock and (ii) 114,076 shares issuable upon exercise of warrants held by Solas Capital Management, LLC (the "Warrants"). Solas Capital Management, LLC - 552,171 Frederick Tucker Golden - 552,171
(b)	Percent of class: All such shares of Common Stock in the aggregate represent beneficial ownership of approximately 9.99% of the Common Stock based on (i) 5,413,160 shares of Common Stock outstanding as of June 22, 2026 as represented by the Issuer in its 10K filed with the Securities and Exchange Commission on June 29, 2026, plus (ii) 114,076 shares of Common Stock issuable upon the exercise of the Warrants. The foregoing excludes 62,679 shares of Common Stock issuable upon exercise of the Warrants because the Warrants contain a blocker provision under which the holder does not have the right to exercise the Warrants to the extent that together with the holder's affiliates and any other person acting as a group together with the holder or any of the holder's affiliates, owns more than 9.99% of the Common Stock. Solas Capital Management, LLC - 9.99% Frederick Tucker Golden - 9.99%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Solas Capital Management, LLC - 0 Frederick Tucker Golden - 0
	(ii) Shared power to vote or to direct the vote: Solas Capital Management, LLC - 552,171 Frederick Tucker Golden - 552,171
	(iii) Sole power to dispose or to direct the disposition of: Solas Capital Management, LLC - 0 Frederick Tucker Golden - 0
	(iv) Shared power to dispose or to direct the disposition of: Solas Capital Management, LLC - 552,171 Frederick Tucker Golden - 552,171
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Notes above.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Notes above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Solas Capital Management, LLC

Signature:	/s/ Frederick Tucker Golden
Name/Title:	Frederick Tucker Golden, General Partner, Solas Capital Holdings, LP, its Member
Date:	08/14/2026

FREDERICK TUCKER GOLDEN

Signature:	/s/ Frederick Tucker Golden
Name/Title:	Frederick Tucker Golden
Date:	08/14/2026