Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Modular Medical, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
60785L207
(CUSIP Number)
February 16, 2024
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's initial filing on
this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed"
for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject
to the liabilities of that section of the Act but shall be subject to all other provisions of the
Act (however, see Instructions).
CUSIP No.: 60785L207
| 1 |
NAME OF REPORTING PERSON
683 Capital Management, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
|
||
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
|
||
| 3 | SEC USE ONLY | ||
| 4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 |
SOLE VOTING POWER
0
|
|
| 6 |
SHARED VOTING POWER
2,211,999
|
||
| 7 |
SOLE DISPOSITIVE POWER
0
|
||
| 8 |
SHARED DISPOSITIVE POWER
2,211,999
|
||
| 9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,211,099
|
||
| 10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
|
||
| 11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.99%
|
||
| 12 |
TYPE OF REPORTING PERSON
IA
|
||
CUSIP No.: 60785L207
| 1 |
NAME OF REPORTING PERSON
683 Capital Partners, LP
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
|
||
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
|
||
| 3 | SEC USE ONLY | ||
| 4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 |
SOLE VOTING POWER
0
|
|
| 6 |
SHARED VOTING POWER
2,211,999
|
||
| 7 |
SOLE DISPOSITIVE POWER
0
|
||
| 8 |
SHARED DISPOSITIVE POWER
2,211,999
|
||
| 9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,211,999
|
||
| 10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
|
||
| 11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.99%
|
||
| 12 |
TYPE OF REPORTING PERSON
PN
|
||
CUSIP No.: 60785L207
| 1 |
NAME OF REPORTING PERSON
Ari Zweiman
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
|
||
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
|
||
| 3 | SEC USE ONLY | ||
| 4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
|
||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 |
SOLE VOTING POWER
0
|
|
| 6 |
SHARED VOTING POWER
2,211,999
|
||
| 7 |
SOLE DISPOSITIVE POWER
0
|
||
| 8 |
SHARED DISPOSITIVE POWER
2,211,999
|
||
| 9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,211,999
|
||
| 10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
|
||
| 11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.99%
|
||
| 12 |
TYPE OF REPORTING PERSON
IN
|
||
CUSIP No.: 60785L207
| ITEM 1(a). |
NAME OF ISSUER:
Modular Medical, Inc.
|
|
| ITEM 1(b). |
ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
10740 Thornmint Road San Diego, California 92127
|
|
| ITEM 2(a). |
NAME OF PERSON FILING:
683 Capital Management, LLC
683 Capital Partners, LP Ari Zweiman |
|
| ITEM 2(b). |
ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The principal business address for each of the Reporting Persons is 1700 Broadway, Suite 4200, New York, NY 10019.
|
|
| ITEM 2(c). |
CITIZENSHIP:
683 Capital Management, LLC is a Delaware limited liability company. 683 Capital Partners, LP is a Delaware limited partnership. Ari Zweiman is a citizen of the United States.
|
|
| ITEM 2(d). |
TITLE OF CLASS OF SECURITIES:
Common Stock, $0.001 par value per share
|
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| ITEM 2(e). |
CUSIP NUMBER:
60785L207
|
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| ITEM 3. | IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: | |
|
(a)
[ ] |
Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); | |
|
(b)
[ ] |
Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); | |
|
(c)
[ ] |
Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); | |
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(d)
[ ] |
Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); | |
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(e)
[ ] |
An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); | |
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(f)
[ ] |
An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); | |
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(g)
[ ] |
A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); | |
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(h)
[ ] |
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
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(i)
[ ] |
A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | |
|
(j)
[ ] |
A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); | |
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(k)
[ ] |
Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: | |
| ITEM 4. | OWNERSHIP | |
| (a) Amount beneficially owned: | ||
| As of February 16, 2024, 683 Capital Partners, LP beneficially owned 1,570,000 shares of Common Stock and warrants to purchase 641,999 shares of Common Stock which are currently exercisable. 683 Capital Management, LLC as the investment manager of 683 Capital Partners, LP may be deemed to have beneficially owned the 1,570,000 shares of Common Stock and warrants to purchase 641,999 shares of Common Stock beneficially owned by 683 Capital Partners, LP. Ari Zweiman as the Managing Member of 683 Capital Management, LLC may be deemed to have beneficially owned the 1,570,000 shares of Common Stock and warrants to purchase 641,999 shares of Common Stock beneficially owned by 683 Capital Management LLC. |
||
| (b) Percent of class: | ||
| The following percentages are based on 30,989,968 shares of Common Stock reported as outstanding as of following the closing of the public offering of 9,090,910 shares of Common Stock as disclosed in the Issuers prospectus supplement filed pursuant to Rule 424(b)(5) filed with the SEC on February 20, 2024 plus 641,999 shares of Common Stock issuable upon exercise of currently exercisable warrants held by the Reporting Persons. As of February 16, 2024, each of the Reporting Persons may be deemed to have beneficially owned approximately 6.99% of the outstanding shares of Common Stock. |
||
| (c) Number of shares as to which the p erson has: | ||
| (i) sole power to vote or to direct the vote: | ||
| See Cover Pages Items 5-9 | ||
| (ii) shared power to vote or to direct the vote: | ||
| See Cover Pages Items 5-9 | ||
| (iii) sole power to dispose or direct the disposition of: | ||
| See Cover Pages Items 5-9 | ||
| (iv) shared power to dispose or to direct the disposition of: | ||
| See Cover Pages Items 5-9 | ||
| ITEM 5. |
OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following
[ ].
|
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| ITEM 6. |
OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not applicable.
|
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| ITEM 7. |
IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Not applicable.
|
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| ITEM 8. |
IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
See Exhibit A.
|
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| ITEM 9. |
NOTICE OF DISSOLUTION OF GROUP:
Not Applicable.
|
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| ITEM 10. |
CERTIFICATION:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
|
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CUSIP No.: 60785L207
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| March 01 2024 |
683 Capital Management, LLC
By:
/s/ Ari Zweiman
Name:
Ari Zweiman
Title:
Managing Member
|
| March 01 2024 |
683 Capital Partners, LP
By:
/s/ Ari Zweiman
Name:
Ari Zweiman
Title:
Authorized Person
|
| March 01 2024 |
Ari Zweiman
By:
/s/Ari Zweiman
Name:
Ari Zweiman
Title:
|
Attention — Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).
CUSIP No.: 60785L207
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with respect to the Common Shares of Modular Medical, Inc. dated as of March 1, 2024, is, and any further amendments thereto signed by each of the undersigned shall be, filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k)(2) under the Securities Exchange Act of 1934, as amended.
Dated: March 1, 2024
683 CAPITAL MANAGEMENT, LLC
By: /s/ Ari Zweiman
Ari Zweiman,
Managing Member
683 CAPITAL PARTNERS, LP
By: /s/ Ari Zweiman
Ari Zweiman,
Authorized Person
/s/ Ari Zweiman
Ari Zweiman
The undersigned hereby agree that the statement on Schedule 13G with respect to the Common Shares of Modular Medical, Inc. dated as of March 1, 2024, is, and any further amendments thereto signed by each of the undersigned shall be, filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k)(2) under the Securities Exchange Act of 1934, as amended.
Dated: March 1, 2024
683 CAPITAL MANAGEMENT, LLC
By: /s/ Ari Zweiman
Ari Zweiman,
Managing Member
683 CAPITAL PARTNERS, LP
By: /s/ Ari Zweiman
Ari Zweiman,
Authorized Person
/s/ Ari Zweiman
Ari Zweiman