Modular Medical (MODD) investor group discloses 6.23% stake and warrant overhang

Rhea-AI Filing Summary

Modular Medical, Inc. has a significant shareholder group led by Bleichroeder LP and related entities, which report beneficial ownership of 336,986 common shares, representing 6.23% of the company’s common stock believed to be outstanding. These shares are reported with sole voting and dispositive power and no shared power.

Bleichroeder LP, an investment adviser, also holds 110,092 additional shares issuable upon exercise of warrants, but their exercise is constrained by a 4.99% beneficial ownership limitation applied immediately after any exercise. Without this 4.99% cap, Bleichroeder indicates it would be deemed to beneficially own 447,078 shares, or 8.09% of the outstanding common stock. Dividend and sale proceeds ultimately accrue to Bleichroeder’s advisory clients.

Key Figures

Beneficially owned shares: 336,986 shares Percent of class: 6.23% Warrant shares: 110,092 shares +3 more

6 metrics

Beneficially owned shares 336,986 shares Common stock beneficially owned by Bleichroeder-related reporting persons, representing 6.23% of the class

Percent of class 6.23% Reported percentage of Modular Medical common stock believed to be outstanding

Warrant shares 110,092 shares Common stock issuable upon exercise of warrants held by Bleichroeder

Beneficial ownership cap 4.99% Beneficial ownership limitation applied to warrant exercises relative to outstanding common stock

Hypothetical total shares 447,078 shares Shares Bleichroeder would be deemed to own if the 4.99% warrant limit did not apply

Hypothetical ownership percentage 8.09% Ownership percentage including all warrant shares without the 4.99% limitation

Key Terms

beneficial owner, beneficial ownership limitation, investment adviser, sole dispositive power, +1 more

5 terms

beneficial owner financial

"is deemed to be the beneficial owner of 336,986 shares, or 6.23% of the common stock"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

beneficial ownership limitation financial

"The exercise of the warrants is subject to a beneficial ownership limitation of 4.99%"

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

investment adviser financial

"Bleichroeder LP ("Bleichroeder"), an investment adviser registered under Section 203"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

sole dispositive power financial

"7 | Sole Dispositive Power 336,986.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G regulatory

"If a parent holding company has filed this schedule, pursuant to (ii)(G), so indicate"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

What percentage of Modular Medical (MODD) shares does Bleichroeder report owning?

Bleichroeder reports beneficial ownership of 336,986 common shares of Modular Medical, Inc., representing 6.23% of the common stock believed to be outstanding. These shares are held with sole voting and sole dispositive power and are managed for advisory clients.

How many Modular Medical (MODD) shares could Bleichroeder own if all warrants were exercised?

If all warrants were exercisable without the 4.99% cap, Bleichroeder states it would be deemed to beneficially own 447,078 shares, or 8.09% of Modular Medical’s outstanding common stock, combining current holdings and warrant shares.

What is the beneficial ownership limitation on Bleichroeder’s MODD warrants?

Bleichroeder’s warrants to acquire Modular Medical common stock are subject to a 4.99% beneficial ownership limitation. This cap applies to the percentage of common stock outstanding immediately after giving effect to any warrant exercise, constraining how many warrant shares can be exercised at one time.

Who ultimately benefits from Bleichroeder’s holdings of Modular Medical (MODD) shares?

Clients of Bleichroeder ultimately benefit from the Modular Medical holdings. The filing states that clients of Bleichroeder have the right to receive, and the power to direct the receipt of, dividends and sale proceeds from the reported securities managed by the adviser.

Which reporting persons are listed on the Modular Medical (MODD) Schedule 13G?

The Schedule 13G lists Bleichroeder Holdings LLC, Bleichroeder LP, and Andrew Gundlach as reporting persons. Each reports the same 336,986 shares with sole voting and dispositive power, reflecting their related roles in managing and overseeing these positions.

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

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Available on EDGAR 08/13/2026 - 04:17 PM Accepted by SEC EDGAR 08/13/2026 - 04:15 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Modular Medical, Inc

(Name of Issuer)

Common Shares

(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

Bleichroeder LP

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 336,986.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 336,986.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

336,986.00

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)

6.23 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 60785L306

1

Names of Reporting Persons

Bleichroeder Holdings 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 336,986.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 336,986.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

336,986.00

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)

6.23 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): 60785L306

1

Names of Reporting Persons

Andrew Gundlach

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 336,986.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 336,986.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

336,986.00

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)

6.23 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Modular Medical, Inc
(b)	Address of issuer's principal executive offices: 10740 THORNMINT ROAD, SAN DIEGO, CA 92127
Item 2.
(a)	Name of person filing: Bleichroeder Holdings LLC Bleichroeder LP Andrew Gundlach
(b)	Address or principal business office or, if none, residence: 1345 Avenue of the Americas, 47th Floor New York, NY 10105
(c)	Citizenship: Bleichroeder Holdings LLC and Bleichroeder LP: Delaware, USA Andrew Gundlach: United States
(d)	Title of class of securities: Common Shares
(e)	CUSIP Number(s): 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: See cover page.
(b)	Percent of class: See cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See cover page.
	(ii) Shared power to vote or to direct the vote: See cover page.
	(iii) Sole power to dispose or to direct the disposition of: See cover page.
	(iv) Shared power to dispose or to direct the disposition of: See cover page.
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. Bleichroeder LP ("Bleichroeder"), an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, is deemed to be the beneficial owner of 336,986 shares, or 6.23% of the common stock believed to be outstanding as a result of acting as investment adviser to various clients. In addition, Bleichroeder owns 110,092 shares of common stock issuable upon exercise of warrants. The exercise of the warrants is subject to a beneficial ownership limitation of 4.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon exercise. If there was no 4.99% limit on the exercise of warrants, Bleichroeder would be deemed to be the beneficial owner of 447,078 shares of common stock, representing 8.09% of the outstanding shares of common stock. Clients of Bleichroeder have the right to receive and the ultimate power to direct the receipt of dividends from, or the proceeds of the sale of, such securities.
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 Exhibit 99.2
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.

Bleichroeder LP

Signature:	Andrew Gundlach
Name/Title:	President and CEO
Date:	08/14/2026

Bleichroeder Holdings LLC

Signature:	Andrew Gundlach
Name/Title:	President and CEO
Date:	08/14/2026

Andrew Gundlach

Signature:	Andrew Gundlach
Name/Title:	Individual
Date:	08/14/2026

Exhibit Information

Exhibit 99.1: AGREEMENT OF THE REPORTING PERSONS Exhibit 99.2: Subsidiary Information