SCHEDULE 13G/A: 683 Capital Management Amends Stake in Modular Medical, Disclosing 6.4% Beneficial Ownership

683 Capital Management, LLC, along with its affiliates, has filed an amendment to its Schedule 13G, disclosing a 6.4% beneficial ownership stake in Modular Medical, Inc. as of December 31, 2024.

Summary

• 683 Capital Management, LLC, 683 Capital Partners, LP, and Ari Zweiman collectively reported beneficial ownership of 2,241,999 shares of Modular Medical, Inc. common stock.
• This represents approximately 6.4% of the outstanding common shares of Modular Medical, Inc.
• The ownership includes 1,600,000 common shares and warrants to purchase an additional 641,999 shares, which are currently exercisable.
• The percentage is calculated based on 34,571,939 common shares outstanding as of November 13, 2024, plus the 641,999 shares issuable from warrants held by the reporting persons.
• The filing is an Amendment No. 1 to a previous Schedule 13G.
• The securities were not acquired for the purpose of changing or influencing the control of Modular Medical, Inc., other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The document is a neutral, factual disclosure of beneficial ownership, providing no positive or negative operational or financial news about the issuer.

Positives

• A significant institutional investor, 683 Capital Management, maintains a substantial stake in Modular Medical, Inc., indicating continued interest.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Modular Medical, Inc.'s future outlook.

Industry Context

This filing indicates continued investment by 683 Capital Management, LLC in Modular Medical, Inc., a company operating in the medical device or healthcare sector. Such disclosures are standard for significant institutional holdings and reflect an investor's position within a specific industry.

Comparison to Industry Standards

• This document is a standard Schedule 13G filing, which reports beneficial ownership of 5% or more of a company's stock. It does not provide operational or financial results for comparison to industry standards or specific comparable companies or projects.

Related Party Transactions

• The document details the beneficial ownership structure where 683 Capital Management, LLC manages investments for 683 Capital Partners, LP, and Ari Zweiman is the managing member of 683 Capital Management, LLC, establishing a clear relationship among the reporting entities regarding the ownership of Modular Medical, Inc. shares.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and liquidity.
• Management: Awareness of a substantial shareholder's position.

Key Dates

Keywords

Modular Medical Inc., 683 Capital Management LLC, 683 Capital Partners LP, Ari Zweiman, Schedule 13G, Beneficial Ownership, Common Stock, Warrants, Institutional Investor, SEC Filing