Modular Medical implements 1-for-30 reverse stock split effective March 31

Modular Medical Inc. (MODD) will implement a 1-for-30 reverse stock split of its outstanding common stock effective at 5:30 a.m. ET on March 31, 2026. The stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market under the same symbol when markets open that day.

The reverse stock split was approved by shareholders at the company’s annual meeting on January 23, 2026. The action is intended to increase the per-share trading price to meet Nasdaq’s $1.00 minimum bid price requirement for continued listing.

The split will reduce outstanding shares from 139,810,797 shares to approximately 4,660,360 shares. Every 30 shares of pre-split common stock will be combined into one share. The number of authorized shares and par value per share will remain unchanged.

Shareholders’ proportionate voting rights will not be affected by the reverse stock split. Holders of fractional shares will receive cash payments instead of partial shares. All outstanding equity awards and warrants will be adjusted by dividing the number of affected shares by 30 and multiplying exercise prices by 30 where applicable.

Colonial Stock Transfer Co. Inc. will serve as the exchange agent and will send instructions to shareholders of record regarding certificate exchanges. Shareholders who hold shares through brokers will have their positions automatically adjusted according to their brokers’ processes.

Modular Medical develops insulin delivery technology and is in the development stage for medical devices. The company was founded by Paul DiPerna, who previously founded Tandem Diabetes in 2005 and invented its t:slim insulin pump.