Modular Medical, Inc. 8-K

What Happened

• Modular Medical, Inc. filed an 8-K reporting that it effected a one-for-thirty (1-for-30) reverse split of its common stock. The company filed a certificate of amendment with the Nevada Secretary of State on March 30, 2026, and the Reverse Split became effective at 5:30 a.m. Eastern Time on March 31, 2026. The change was previously approved by the board and a majority of shareholders.

Key Details

• Reverse split ratio: 1-for-30 (each 30 pre-split shares become 1 post-split share).
• Effective date/time: March 31, 2026 at 5:30 a.m. ET; shares began trading on a post-split basis on March 31, 2026 under CUSIP 60785L306.
• Authorized shares and par value: number of authorized common shares and par value ($0.001) remain unchanged.
• Equity awards/warrants: outstanding equity awards, reserved shares under the equity incentive plan, and warrants will be adjusted by dividing share amounts by 30 and, if applicable, multiplying exercise prices by 30.
• Fractional shares: no fractional shares will remain; holders of fractional shares will receive cash in lieu of fractional shares.
• Press release: the company issued a press release on March 26, 2026 regarding the Reverse Split (filed as Exhibit 99.1).

Why It Matters

• A reverse stock split reduces the number of outstanding shares and raises the per‑share price proportionally; this can affect trading liquidity, per‑share metrics, and eligibility for certain markets or investors. Modular Medical’s corporate records were amended to implement the split, and existing equity awards and warrants were adjusted to preserve holders’ economic interests (adjusted share counts and exercise prices). Retail investors should note the new share count, post-split CUSIP, and that fractional shares will be cashed out rather than issued.