SplitMay 1, 2026, 05:01 PM
iSpecimen Announces 1-for-40 Reverse Stock Split
AI Summary
iSpecimen Inc. announced a 1-for-40 reverse stock split of its common stock, effective April 27, 2026, with trading on a split-adjusted basis beginning April 28, 2026. This action is intended to increase the per share trading price to attract institutional investors and ensure compliance with Nasdaq's minimum bid price requirement. The company also ratified a prior 1-for-20 reverse stock split from September 2024, which had not been properly filed at the time.
Key Highlights
- Effected a 1-for-40 reverse stock split of common stock.
- Split became effective on April 27, 2026, with trading on a split-adjusted basis starting April 28, 2026.
- The new CUSIP number for the common stock is 45032V306.
- Shares outstanding reduced from 52,639,796 to approximately 1,316,032.
- Fractional shares resulting from the split were rounded up to the nearest whole share.
- The split aims to increase the per share trading price and regain Nasdaq minimum bid price compliance.
- The Board ratified a prior 1-for-20 reverse stock split from September 13, 2024, which was previously not properly filed.