03:48 AM EST, 11/22/2024 (MT Newswires) -- Modular Medical ( MODD ) said late Thursday it priced its public offering of around 5.5 million shares at $1.50 apiece.

The company expects gross proceeds of about $8.2 million from the offering, which is anticipated to close on or about Nov. 25.

Modular Medical ( MODD ) aims to use the proceeds to fund its operations and for working capital and general corporate purposes, including capital expenditures.