E.F. Hutton serves as placement agent for iSpecimen's $2.5M offering

E.F. Hutton & Co. acted as exclusive placement agent for iSpecimen Inc.'s (NASDAQ: ISPC) $2.5 million private placement, the investment banking firm announced. The offering closed on May 11.

iSpecimen operates an online marketplace connecting scientists requiring biospecimens for medical research with healthcare specimen providers. The company intends to use the net proceeds for working capital and general corporate purposes.

This transaction marks E.F. Hutton's second financing with iSpecimen. In December 2025, the firm served as exclusive placement agent for a separate private placement that raised approximately $5.5 million in gross proceeds for the company.

"We are pleased to have advised iSpecimen on this successful financing," said Joseph T. Rallo, Chief Executive Officer of E.F. Hutton & Co. "iSpecimen has established a differentiated and scalable platform that plays an important role in advancing medical research by improving access to high-quality human biospecimens for the scientific community."

E.F. Hutton & Co. is an investment bank and broker-dealer headquartered in Manhattan, providing advisory and financing solutions to corporate clients, sponsors, and public-private partnerships. The firm offers capital markets services including private placements, mergers and acquisitions advisory, and strategic financing.

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