ISPC News & Events

iSpecimen files to sell 101M shares of common stock for holders

Equity futures were marginally higher after the close, slightly curtailing the session's mild losses as markets contend with light year-end volumes and a pullback in heavyweight tech and AI names that stalled last week's strong rally. Comments from various Fed members in minutes from the last FOMC meeting on the likelihood of future rate cuts continue to weigh on the markets as well.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -iSpecimenup 36.9% after announcing the pricing of a $5.5M private placementOriental Riseup 23.8% after entering a non-binding letter of intent to acquire Hubei Daguan TeaOne Stop Systemsup 6.3% after agreeing to sell Bressner Technology to Hiper Euro for $22.4MDot Aiup 1.9% after saying it is not aware of any undisclosed material adverse events, has not executed any equity dilution transactions, and has not authorized any sales of company shares by officers or directors in connection with recent market activityLOWER -Smart Powerrdown 10.5% after filing to sell 16.36M shares of common stock for holders

iSpecimen announced that it entered into a securities purchase agreement with accredited investors for aggregate gross proceeds of approximately $5.5M, before deducting fees to the placement agent and other offering expenses payable by the company. In connection with the offering, the company will issue 6,875 shares of newly designated Series C convertible preferred stock at a price of $800 per share. Each share of preferred stock is convertible into shares of the company's common stock based on a $1,000 stated value per preferred stock share and a conversion price of 85% of the closing price of the common stock as of the date prior to each conversion date. The company intends to use the net proceeds from the offering for marketing, working capital, and general corporate purposes. The offering is expected to close on or about December 31, subject to the satisfaction of customary closing conditions. E.F. Hutton & Co. is acting as the exclusive placement agent in connection with the offering.

iSpecimen announced the pricing of an underwritten public offering of 5,714,283 shares of its common stock at a public offering price of $0.70 per share. The aggregate gross proceeds to the Company from the Offering are expected to be approximately $4M, before deducting underwriting discounts and commissions and other estimated offering expenses. The Offering is expected to close on July 25, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the Offering to pay $1,500,000 for marketing and advertising services to be provided by IR Agency, $1,000,000 to fund the initial milestone payment under a definitive agreement with Sales Stack Solutions Corp., and the remainder for working capital and general corporate purposes. The Offering is being conducted on a firm commitment basis. WestPark Capital acted as the Sole Book-Runner in connection with the Offering.