iSpecimen Inc. Files 8-K Report

TL;DR

iSpecimen filed an 8-K on July 25th, check for updates.

AI Summary

On July 25, 2024, iSpecimen Inc. filed an 8-K report detailing an event under Regulation FD Disclosure and Other Events. The filing does not contain specific financial figures or new material agreements but serves as a notification of events to the SEC.

Why It Matters

This filing indicates that iSpecimen Inc. has made a regulatory disclosure to the SEC, which may contain information relevant to investors.

Risk Assessment

Risk Level: low — The filing is a standard 8-K notification and does not appear to disclose any immediate negative or positive material events.

Key Players & Entities

• iSpecimen Inc. (company) — Registrant
• July 25, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 001-40501 (identifier) — Commission File Number
• 27-0480143 (identifier) — IRS Employer Identification No.
• 8 Cabot Road Woburn , MA 01801 (address) — Address of principal executive offices
• ( 781 ) 301-6700 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.0001 — registered Common Stock, par value $0.0001 per share ISPC The Nasdaq Stock Ma
• $586,800 — . Bielak's claim for alleged damages is $586,800 plus attorneys' fees and interest. The
• $0.001 — e the Company's common stock, par value $0.001 per share (the "Common Stock") that fro
• $1.00 — bid price of the Common Stock has been $1.00 per share or greater. As previously r

Filing Documents

• tm2425411d1_8k.htm (8-K) — 29KB
• 0001104659-24-105451.txt ( ) — 199KB
• ispc-20240725.xsd (EX-101.SCH) — 3KB
• ispc-20240725_lab.xml (EX-101.LAB) — 33KB
• ispc-20240725_pre.xml (EX-101.PRE) — 22KB
• tm2425411d1_8k_htm.xml (XML) — 4KB

01

Item 7.01. Regulation FD Disclosure. Resignation of Chief Information Officer and Filing of Demand for Arbitration On July 25, 2024, Benjamin Bielak, the Chief Information Officer of iSpecimen Inc., a Delaware corporation (the " Company "), until his resignation on July 14, 2024, initiated a Demand for Arbitration against the Company with the American Arbitration Association, pursuant to the dispute resolution provisions contained in Mr. Bielak's employment agreement. The terms and conditions of Mr. Bielak's employment with the Company were governed by his employment agreement, as amended, with the Company. In his Demand for Arbitration , Mr. Bielak claims that the Company failed to provide him with certain bonus payments allegedly due to him for work performed in 2023 and 2024. Mr. Bielak also claims that the Company failed to provide him with severance payments allegedly due pursuant to the provisions of his employment agreement. The total amount of Mr. Bielak's claim for alleged damages is $586,800 plus attorneys' fees and interest. The Company believes that Mr. Bielak's claims are without legal or factual basis, and intends to vigorously defend these claims. As of the date of this Current Report on Form 8-K, an arbitrator has not yet been selected, and a schedule for the arbitration has not yet been set.

01

Item 8.01 Other Events. On October 1, 2024, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") advising the Company that it had regained compliance with Nasdaq's minimum bid price requirements under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement") because the Company's common stock, par value $0.001 per share (the "Common Stock") that from September 16, 2024 to September 30, 2024, the closing bid price of the Common Stock has been $1.00 per share or greater. As previously reported, on October 9, 2023, the Company received a deficiency notice from Nasdaq informing the Company that its Common Stock failed to comply with 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. As also previously reported, on April 9, 2024, the Company received a notification letter from Nasdaq informing the Company that, while the Company had not regained compliance with the Minimum Bid Price Requirement, Nasdaq determined that the Company was eligible for an additional 180 calendar day period, or until October 7, 2024 (the "Second Compliance Period"), to regain compliance. As reported above, the Company has now regained compliance. 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: October 2, 2024 iSPECIMEN INC. By: /s/ Tracy Curley Name: Tracy Curley Title: Chief Executive Officer

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View this 8-K filing on SEC EDGAR