Late Stage Mature Pre IPO Unicorns -

Modular Medical raises $15M in uplisting offering, shares open below offer price

By Val Kennedy,

Insulin pump developer Modular Medical (NASDAQ:MODD) raised $15M but saw its shares open below its offering price after uplisting its stock to the Nasdaq from the OTC market on Friday.

Large yellow signboard on metal frame with the word IPO

Shares of Modular Medical opened at $5.80 per share after pricing at $6. The shares last changed hands at $4.37 at approximately 11:30 a.m. ET after hitting a high of $6.05.

The medical device company offered 2.5M units priced at $6 per unit. Each unit consisted of one share plus one warrant to buy one share at $6.60 per share.

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