SCHEDULE: Solas Capital Discloses 6.8% Stake in Modular Medical

Solas Capital Management and Frederick Tucker Golden have reported a 6.8% beneficial ownership stake in Modular Medical, Inc., primarily for investment purposes.

Summary

• Solas Capital Management, LLC and Frederick Tucker Golden collectively beneficially own 5,326,906 shares of Modular Medical, Inc. Common Stock.
• This ownership represents approximately 6.8% of the company's outstanding Common Stock.
• The total beneficial ownership includes 4,424,059 shares of Common Stock and 902,847 shares issuable upon the exercise of warrants.
• The percentage is calculated based on 77,676,339 shares of Common Stock outstanding as of December 24, 2025, plus the 902,847 warrant shares.
• Solas Capital Management, LLC is an investment adviser, and Frederick Tucker Golden is its Portfolio Manager, exercising shared voting and dispositive power over these shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Modular Medical, Inc.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as moderately positive, as it indicates significant institutional interest in Modular Medical, Inc., which can be a vote of confidence, though it provides no operational or financial performance updates.

Positives

• The disclosure of a significant 6.8% stake by an institutional investor like Solas Capital Management may signal confidence in Modular Medical, Inc.'s long-term prospects.
• Increased institutional ownership can sometimes lead to greater market liquidity and investor interest in the stock.

Industry Context

StockSavvy.ai notes that the disclosure of a significant institutional stake in a medical technology company like Modular Medical, Inc. is a common occurrence. Such filings indicate that professional money managers see value or potential in the company, aligning with broader trends of institutional capital allocation in the healthcare and innovation sectors.

Stakeholder Impact

• Shareholders may view the increased institutional ownership as a positive signal, potentially leading to increased investor confidence and market interest in Modular Medical, Inc.

Key Dates

Recommendation

The filing indicates a significant institutional stake, which is generally a positive sign of investor interest. However, as a Schedule 13G, it does not provide operational or financial performance details that would warrant a 'buy' or 'sell' recommendation. A 'hold' recommendation is appropriate, acknowledging the institutional confidence while awaiting further company-specific performance updates.

Keywords

Modular Medical, Solas Capital Management, Frederick Tucker Golden, Beneficial Ownership, Schedule 13G, Common Stock, Warrants, Institutional Investor, Medical Devices