Corporate ActionMay 13, 2026, 05:02 PM
iSpecimen Raises $2.5M in Private Placement; Regains Nasdaq Compliance
AI Summary
iSpecimen Inc. announced the pricing and closing of a private placement, raising approximately $2.5 million in gross proceeds. The company issued a combination of common stock and pre-funded warrants to accredited investors, with proceeds earmarked for working capital and marketing. Additionally, iSpecimen Inc. has regained compliance with The Nasdaq Capital Market's minimum bid price requirement, resolving a previously disclosed listing issue.
Key Highlights
- Secured approximately $2.5 million in gross proceeds from a private placement.
- Issued 85,202 common shares at $5.12 per share and 403,088 pre-funded warrants at $5.1199 per warrant.
- Each pre-funded warrant is exercisable for one common share at an exercise price of $0.0001 per share.
- Net proceeds will be used for working capital, including up to $900,000 for marketing expenses.
- Aggregate shares issuable are capped at 19.99% of outstanding common stock until stockholder approval.
- iSpecimen regained compliance with Nasdaq's minimum $1.00 bid price requirement as of May 11, 2026.
- E.F. Hutton & Co. served as the exclusive placement agent for the offering.
- Company agreed to file a registration statement within 30 days for the resale of the issued securities.
Price Impact
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