iSpecimen Inc. Faces Delisting Concerns

Ticker: ISPC · Form: 8-K · Filed: Apr 11, 2024 · CIK: 1558569

Sentiment: bearish

Topics: delisting, listing-standards, regulatory

TL;DR

iSpecimen Inc. might get delisted, stock could be toast.

AI Summary

iSpecimen Inc. filed an 8-K on April 11, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The earliest event reported was on April 9, 2024. The company is incorporated in Delaware and its principal executive offices are located in Lexington, MA.

Why It Matters

This filing indicates potential issues with iSpecimen Inc.'s ability to remain listed on its exchange, which could significantly impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's public trading status, creating significant uncertainty and potential for severe stock price decline.

Key Players & Entities

FAQ

What specific listing rule or standard has iSpecimen Inc. failed to satisfy?

The filing does not specify the exact rule or standard that iSpecimen Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.

What is the date of the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on April 9, 2024.

When was this 8-K form filed with the SEC?

This 8-K form was filed with the SEC on April 11, 2024.

Where are iSpecimen Inc.'s principal executive offices located?

iSpecimen Inc.'s principal executive offices are located at 450 Bedford Street, Suite 1010, Lexington, MA 02420.

What is the company's state of incorporation?

iSpecimen Inc. is incorporated in Delaware.

Filing Stats: 592 words · 2 min read · ~2 pages · Grade level 13.7 · Accepted 2024-04-11 16:10:12

Key Financial Figures

Filing Documents

01 Notice of Delisting or Failure to Satisfy a Continued

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously reported, on October 9, 2023, iSpecimen Inc., a Delaware corporation (the "Company") received a deficiency notice from The Nasdaq Stock Market ("Nasdaq") informing the Company that its common stock, par value $0.0001 per share (the "Common Stock"), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was initially provided 180 calendar days, or until April 8, 2024, to regain compliance. On April 9, 2024, the Company received a notification letter from Nasdaq informing the Company that, while the Company has not regained compliance with the Minimum Bid Price Requirement, Nasdaq has determined that the Company is eligible for an additional 180 calendar day period, or until October 7, 2024 (the "Second Compliance Period"), to regain compliance. If at any time during the Second Compliance Period, the closing bid price of the Common Stock is at least $1 per share for a minimum of 10 consecutive business days, Nasdaq will provide the Company with written confirmation of compliance. If compliance with the Minimum Bid Price Requirement cannot be demonstrated by October 7, 2024, Nasdaq will provide written notification that the Common Stock will be delisted. At that time, the Company may appeal Nasdaq's determination to a Hearings Panel. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 11, 2024 iSPECIMEN INC. By: /s/ Tracy Curley Name: Tracy Curley Title: Chief Executive Officer

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