The San Diego-based insulin pump maker offered just over 9 million shares of its common stock. It sold each share of common stock to the public at a price of $1.10 per share.
Manchester Explorer — managed by Modular Medical CEO Jeb Besser and board member Morgan Frank — led the financing. Other existing institutional investors also took part. Titan Partners Group, a division of American Capital Partners, acted as sole book-running manager for the offering.
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