iSpecimen (ISPC) Company Report

iSpecimen Inc. raised approximately $5.5 million in gross proceeds through a private placement, with E.F. Hutton & Co. acting as the exclusive placement agent.
The company will issue 6,875 shares of newly designated Series C Convertible Preferred Stock at a purchase price of $800 per share, each with a stated value of $1,000.
The preferred stock is convertible into common stock at a conversion price equal to 85% of the closing price on the trading day immediately preceding each conversion date.
Net proceeds from the offering are intended to support marketing efforts, working capital needs, and general corporate purposes.

Jan 6, 2026, 3:00 PM

iSpecimen Inc. Enters into Securities Purchase and Registration Rights Agreements for Series C Preferred Stock

ISPC

Convertible Preferred Issuance

iSpecimen Inc. entered into a Securities Purchase Agreement and a Registration Rights Agreement on December 30, 2025, for the sale of Series C Convertible Preferred Stock.
The company will sell up to 6,875 shares of Series C Preferred Stock at a purchase price of $800 per share, with each share having a Stated Value of $1,000.
The Series C Preferred Stock ranks senior to Common Stock in liquidation and entitles holders to participating dividends based on Common Stock dividends.
A significant clause requires iSpecimen Inc. to effect a 10-to-1 reverse stock split within five calendar days if the Common Stock's lowest closing price falls below a specified Floor Price for five consecutive trading days. Failure to comply can result in liquidated damages of 20.0% of the purchase amount, up to a maximum of 35.0%, plus 12.0% annual interest if not paid within seven days.