iSpecimen prices $4 million public offering at $0.70 per share

WOBURN, Mass. - iSpecimen Inc. (NASDAQ:ISPC), an online marketplace connecting scientists with biospecimen providers, announced the pricing of an underwritten public offering of 5,714,283 shares of common stock at $0.70 per share. The company, currently trading at $1.1 with a market capitalization of $9.11 million, is considered overvalued according to InvestingPro Fair Value metrics.

The firm commitment offering, expected to close on July 25, 2025, aims to raise approximately $4 million in gross proceeds before deducting underwriting discounts and other expenses. WestPark Capital, Inc. served as the Sole Book-Runner for the transaction. InvestingPro analysis reveals the company’s urgent need for capital, with a concerning current ratio of 0.31 and negative free cash flow of -$7.33 million in the last twelve months.

According to the press release, iSpecimen plans to allocate $1.5 million of the net proceeds for marketing and advertising services from IR Agency LLC and $1 million to fund an initial milestone payment under an agreement with Sales Stack Solutions Corp. The remainder will be used for working capital and general corporate purposes. With annual revenue of $8.06 million and a weak overall financial health score according to InvestingPro, the company faces significant operational challenges. Discover 10+ additional exclusive ProTips and comprehensive analysis in the Pro Research Report.

The securities are being offered through a registration statement on Form S-1 that was declared effective by the Securities and Exchange Commission on July 23, 2025.

iSpecimen operates an online marketplace that facilitates connections between scientists in commercial and non-profit organizations with healthcare providers that can supply patient specimens needed for medical research.

This announcement comes as a correction to a previous press release issued on July 24, 2025, which incorrectly listed KCSA Strategic Communications as iSpecimen’s investor relations contact.

In other recent news, iSpecimen Inc. announced the pricing of an underwritten public offering of 5,714,283 shares of common stock at $0.70 per share, aiming to raise approximately $4 million in gross proceeds. The offering is scheduled to close on July 25, 2025, with WestPark Capital, Inc. acting as the sole book-runner. Additionally, iSpecimen amended its bylaws to lower the quorum requirement for shareholder meetings from a majority to 34% of the voting power of outstanding shares. This amendment was approved on July 9, 2025, and a copy was filed with the SEC. In board-related developments, Richard J. Paolone and John L. Brooks III resigned from iSpecimen’s board of directors, effective immediately. The company clarified that these resignations were not due to any disagreements with the company’s operations or policies. These changes reflect ongoing adjustments within iSpecimen’s corporate structure and governance.

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