MODD News

Three micro-caps debuted this past week during the IPO market’s annual February lull. Nine SPACs also priced. The pipeline remained relatively quiet, with two IPOs and one SPAC submitting initial filings. The Arena Group (AREN), a media holding company operating Sports Illustrated, TheStreet, and other brands, raised $30 million at a $172 million...read more

Modular Medical, which is developing a wearable insulin pump device, raised $15 million by offering 2.5 million units at $6, below the last close of its shares on the OTCQB ($7.90). Each unit consists of one share of common stock and one warrant, exercisable at $6.60 (110% of the IPO price). The company offered 0.9 million more units than anticipated. It originally planned to offer...read more

Modular Medical, which is developing a wearable insulin pump device, lowered the proposed deal size for its upcoming IPO on Monday. The San Diego, CA-based company now plans to raise $15 million by offering 1.6 million units at $9.25, the February 3 last reported sale price of its shares on the OTCQB (MODD). The company had previously filed to offer 2.4 million shares at $12.49....read more

Following a week of postponements and pricing delays, two tech IPOs and three holdovers are scheduled to raise $412 million in the week ahead. Connectivity solutions provider Credo Technology Group (CRDO) plans to raise $275 million at a $1.8 billion market cap. Credo’s solutions are optimized for optical and electrical ethernet applications, and its...read more