Corporate ActionMay 8, 2026, 09:05 PM
iSpecimen Prices $2.5M Private Placement
AI Summary
iSpecimen Inc. announced the pricing of a private placement with accredited investors, aiming to raise approximately $2.5 million in gross proceeds. The offering involves the issuance of 488,281 shares of common stock at $5.12 per share, with an option for certain purchasers to receive pre-funded warrants at $5.1199 each. The net proceeds are intended for working capital purposes, including up to $900,000 for marketing expenses, and the closing is anticipated around May 11, 2026.
Key Highlights
- iSpecimen priced a private placement for aggregate gross proceeds of approximately $2.5 million.
- The company will issue 488,281 shares of common stock at a purchase price of $5.12 per share.
- Certain purchasers may elect to receive pre-funded warrants at $5.1199 per warrant, exercisable at $0.0001.
- Net proceeds will be used for working capital, including up to $900,000 in marketing expenses.
- The offering is expected to close on or about May 11, 2026, subject to customary conditions.
- The aggregate number of shares issuable is capped at 19.99% of outstanding common stock until stockholder approval.
- The company will seek stockholder approval within 90 days following the closing.
- E.F. Hutton & Co. acted as the exclusive placement agent for the offering.
Price Impact
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