<SEC-DOCUMENT>0001213900-24-058590.txt : 20240702
<SEC-HEADER>0001213900-24-058590.hdr.sgml : 20240702
<ACCEPTANCE-DATETIME>20240702160527
ACCESSION NUMBER:		0001213900-24-058590
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240702
DATE AS OF CHANGE:		20240702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Modular Medical, Inc.
		CENTRAL INDEX KEY:			0001074871
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				870620495
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-264193
		FILM NUMBER:		241095109

	BUSINESS ADDRESS:	
		STREET 1:		16772 WEST BERNARDO DRIVE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92127
		BUSINESS PHONE:		858-800-3500

	MAIL ADDRESS:	
		STREET 1:		16772 WEST BERNARDO DRIVE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BEAR LAKE RECREATION INC
		DATE OF NAME CHANGE:	19981208
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>ea0208863-424b5_modular.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
<HTML>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(5)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-264193</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>AMENDMENT NO. 1 DATED JULY 2, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>to Prospectus Supplement Dated November 22, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(To Prospectus dated April 19, 2022)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>Up to $4,170,341</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Amendment No. 1 to Prospectus Supplement (the &ldquo;Amendment&rdquo;)
amends our prospectus supplement dated November 22, 2023, or the Prospectus Supplement. This Amendment should be read in conjunction with
the Prospectus Supplement and the accompanying prospectus, or the Prospectus, included in the Registration Statement on Form S-3 filed
with the Securities and Exchange Commission on April 19, 2022 (File No. 333-264193), and is qualified by reference thereto, except to
the extent that the information herein amends or supersedes the information contained in the Prospectus Supplement or the Prospectus.
This Amendment is not complete without, and may only be delivered or utilized in connection with, the Prospectus Supplement and the Prospectus,
and any future amendments or supplements thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We have entered into a sales agreement (the
&ldquo;Sales Agreement&rdquo;) with Leerink Partners LLC (&ldquo;Leerink Partners&rdquo;) relating to shares of our common stock, par
value $0.001 per share, offered by this prospectus supplement. In accordance with the terms of the Sales Agreement, we may offer and sell
shares of our common stock having an aggregate offering price of up to the dollar amount of shares of common stock permitted to be offered
and sold by the Company pursuant to General Instruction I.B.6. of Form S-3 from time to time through or to Leerink Partners, acting as
agent or principal. As of July 2, 2024, we have offered and sold $286,120 of our common stock pursuant to the Sales Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Our common stock is listed on The Nasdaq Capital
Market, or Nasdaq, under the symbol &ldquo;MODD&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are filing this Amendment to amend the Prospectus Supplement to
update the amount of our common stock we are eligible to sell under General Instruction I.B.6 of Form S-3 and pursuant to the Sales Agreement.
As of July 1, 2024, the aggregate market value of our outstanding common stock held by non-affiliates, or the public float, was
$47,731,950, which was calculated based on 25,941,277 shares of our outstanding common stock held by non-affiliates as of May 13, 2024,
and at a price of $1.84 per share, the closing price of our common stock on May 13, 2024. Pursuant to General Instruction I.B.6 of Form
S-3, in no event will we sell shares of our common stock pursuant to the Prospectus Supplement and the Prospectus, as amended by this
Amendment, with a value of more than one-third of the aggregate market value of our common stock held by non-affiliates in any 12-month
period, so long as the aggregate market value of our common stock held by non-affiliates is less than $75,000,000. As of the date of this
Amendment, we have offered and sold shares of our common stock with a value of $11,740,309 pursuant to General Instruction I.B.6 to Form
S-3 during the prior 12 calendar month period that ends on and includes the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of these limitations and the current public float of our
common stock, and in accordance with the terms of the Sales Agreement, we may offer and sell shares of our common stock having an aggregate
offering price of up to $4,170,341 from time to time through or to Leerink Partners. If our public float increases such that we may sell
additional amounts under the Sales Agreement, the Prospectus Supplement and the Prospectus, we will file another amendment to the Prospectus
Supplement prior to making additional sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investing in our common stock involves a high degree of risk. See
the information contained under &ldquo;Risk Factors&rdquo; of the Prospectus Supplement, the Prospectus, and under similar headings in
the documents incorporated by reference therein for a discussion of the factors you should carefully consider before deciding to purchase
these securities. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus
supplement. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Leerink Partners</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">The date of this Amendment
No. 1 to Prospectus Supplement is July 2, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

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