iSpecimen Inc. Closes $1.5M Private Placement
Ticker: ISPC · Form: 8-K · Filed: May 17, 2024 · CIK: 1558569
Sentiment: neutral
Topics: private-placement, funding, common-stock
TL;DR
iSpecimen just raised $1.5M from a stock sale at $1/share. Funds for operations.
AI Summary
On May 16, 2024, iSpecimen Inc. announced the closing of its previously disclosed private placement of common stock. The company raised approximately $1.5 million in gross proceeds from this offering, which involved the sale of 1,500,000 shares of common stock at a purchase price of $1.00 per share. This capital infusion is intended to support the company's ongoing operations and strategic initiatives.
Why It Matters
The successful closing of this private placement provides iSpecimen Inc. with crucial funding to continue its operations and pursue growth opportunities, potentially strengthening its financial position.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the low per-share price and the nature of a private placement may indicate ongoing financial pressures or a need for immediate funding.
Key Numbers
- $1.5M — Gross Proceeds (Raised from private placement of common stock)
- $1.00 — Price Per Share (Sold in the private placement)
- 1,500,000 — Shares Sold (In the private placement)
Key Players & Entities
- iSpecimen Inc. (company) — Registrant
- May 16, 2024 (date) — Date of earliest event reported
- $1.5 million (dollar_amount) — Gross proceeds from private placement
- 1,500,000 (dollar_amount) — Number of shares sold
- $1.00 (dollar_amount) — Purchase price per share
FAQ
What was the total amount of gross proceeds raised by iSpecimen Inc. in the private placement?
iSpecimen Inc. raised approximately $1.5 million in gross proceeds from the private placement.
On what date was the private placement of common stock closed?
The private placement was closed on May 16, 2024.
How many shares of common stock were sold in the private placement?
1,500,000 shares of common stock were sold in the private placement.
What was the purchase price per share for the common stock in the private placement?
The purchase price per share was $1.00.
What is the intended use of the funds raised from the private placement?
The funds are intended to support the company's ongoing operations and strategic initiatives.
Filing Stats: 825 words · 3 min read · ~3 pages · Grade level 13.9 · Accepted 2024-05-17 16:16:46
Key Financial Figures
- $0.0001 — registered Common Stock, par value $0.0001 per share ISPC The Nasdaq Stock Ma
Filing Documents
- tm2414224d1_8k.htm (8-K) — 27KB
- 0001104659-24-063018.txt ( ) — 197KB
- ispc-20240516.xsd (EX-101.SCH) — 3KB
- ispc-20240516_lab.xml (EX-101.LAB) — 33KB
- ispc-20240516_pre.xml (EX-101.PRE) — 22KB
- tm2414224d1_8k_htm.xml (XML) — 4KB
01. Other Events
Item 8.01. Other Events. iSpecimen Inc. (the "Company") currently plans to hold its 2024 Annual Meeting of Stockholders (the "2024 Annual Meeting") on July 19, 2024. The Company intends to set the record date for determining the stockholders of record who will be entitled to vote at the 2024 Annual Meeting as the close of business on June 3, 2024. The time and location of the 2024 Annual Meeting will be as set forth in the Company's definitive proxy Because the scheduled date of the 2024 Annual Meeting is more than 30 days after the anniversary of the Company's 2023 Annual Meeting of Stockholders, prior disclosed deadlines regarding the submission of stockholder proposals pursuant to Rule 14a-8 ("Rule 14a-8") under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), for the 2024 Annual Meeting are no longer applicable. The Company is hereby providing notice of certain revised deadlines for the submission of stockholder proposals in connection with the 2024 Annual Meeting. In order for a stockholder proposal, submitted pursuant to Rule 14a-8, to be considered timely for inclusion in the Company's proxy statement and form of proxy for the 2024 Annual Meeting, such proposal must be received by the Company by May 27, 2024. The Company has determined that May 27, 2024 is a reasonable time before the Company plans to begin printing and mailing its proxy materials. Therefore, in order for a stockholder to submit a proposal for inclusion in the Company's proxy materials for the 2024 Annual Meeting, the stockholder must comply with the requirements set forth in Rule 14a-8, including with respect to the subject matter of the proposal, and must deliver the proposal and all required documentation to the Company no later than May 27, 2024. The public announcement of an adjournment or postponement of the date of the 2024 Annual Meeting will not commence a new time p
SIGNATURES
SIGNATURES 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: May 17, 2024 iSPECIMEN INC. By: /s/ Tracy Curley Name: Tracy Curley Title: Chief Executive Officer