iSpecimen Inc. Closes $1.5M Private Placement

Ticker: ISPC · Form: 8-K · Filed: 2024-05-17T00:00:00.000Z

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.

From the Filing

0001104659-24-063018.txt : 20240517 0001104659-24-063018.hdr.sgml : 20240517 20240517161646 ACCESSION NUMBER: 0001104659-24-063018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240516 ITEM INFORMATION: Other Events FILED AS OF DATE: 20240517 DATE AS OF CHANGE: 20240517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: iSpecimen Inc. CENTRAL INDEX KEY: 0001558569 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 270480143 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40501 FILM NUMBER: 24959938 BUSINESS ADDRESS: STREET 1: 450 BEDFORD STREET STREET 2: SUITE 1010 CITY: LEXINGTON STATE: MA ZIP: 02420 BUSINESS PHONE: 781-301-6700 MAIL ADDRESS: STREET 1: 450 BEDFORD STREET STREET 2: SUITE 1010 CITY: LEXINGTON STATE: MA ZIP: 02420 8-K 1 tm2414224d1_8k.htm FORM 8-K false 0001558569 0001558569 2024-05-16 2024-05-16 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM  8-K   CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934   Date of Report (Date of earliest event reported): May 16, 2024   iSpecimen Inc. (Exact name of registrant as specified in its charter)   Delaware   001-40501   27-0480143 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   450 Bedford Street Lexington , MA 02420 (Address of principal executive offices, including zip code)   Registrant’s telephone number, including area code: ( 781 ) 301-6700   Not Applicable (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading symbol(s)   Name of each exchange on which registered Common Stock, par value $0.0001 per share   ISPC   The Nasdaq Stock Market LLC   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company x   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨             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 statement for the 2024 Annual Meetin