iSpecimen completes $4 million stock offering at $0.70 per share

iSpecimen Inc. (NASDAQ: ISPC) completed an underwritten public offering of 5,714,283 shares of common stock at $0.70 per share, generating approximately $4 million in gross proceeds before fees and expenses, according to a company statement.

The biospecimen marketplace operator plans to allocate $1.5 million of the net proceeds for marketing and advertising services from IR Agency LLC and $1 million for an initial milestone payment to Sales Stack Solutions Corp. under a definitive agreement. The remaining funds will support working capital and general corporate purposes.

WestPark Capital Inc. served as the sole book-runner for the firm commitment offering. The Securities and Exchange Commission declared the registration statement effective on July 23, 2025.

iSpecimen operates an online marketplace connecting scientists requiring biospecimens for medical research with healthcare providers including hospitals, laboratories, biobanks and blood centers.

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