SCHEDULE 13G/A: Solas Capital Management Discloses 7.5% Stake in Modular Medical, Inc.

Solas Capital Management, LLC and Frederick Tucker Golden have disclosed a beneficial ownership of 7.5% in Modular Medical, Inc., comprising over 4 million shares including warrants.

Summary

• Solas Capital Management, LLC and Frederick Tucker Golden have filed an Amendment No. 1 to Schedule 13G, disclosing their beneficial ownership in Modular Medical, Inc.
• They collectively beneficially own 4,087,488 shares of Modular Medical, Inc. Common Stock.
• This ownership represents approximately 7.5% of the company's outstanding Common Stock.
• The total shares include 3,243,475 shares of Common Stock and 844,013 shares issuable upon the exercise of warrants.
• The percentage is calculated based on 53,706,074 shares outstanding as of April 23, 2025, plus the 844,013 warrant shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of Modular Medical, Inc.

Sentiment

Score: 5

Explanation: The document is a factual regulatory disclosure of beneficial ownership and does not convey positive or negative sentiment regarding the issuer's performance or prospects.

Future Outlook

NA

Industry Context

This Schedule 13G filing is a standard regulatory disclosure of a significant ownership stake by an investment firm in a publicly traded company. It does not provide broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders: Disclosure of a significant institutional ownership stake (7.5%) provides transparency regarding the company's ownership structure.

Key Dates

Keywords

Modular Medical Inc., Solas Capital Management, Frederick Tucker Golden, Schedule 13G, Beneficial Ownership, Common Stock, Warrants, SEC Filing, Investment Adviser, Institutional Ownership