iSpecimen closes $5 million public offering of stock and pre-funded warrants

iSpecimen Inc. closed a public offering on August 7, 2026, after pricing it on August 6. The Company priced approximately $5 million of common stock, and/or pre-funded warrants to purchase shares of common stock, at a public offering price of $1.30 per share (or $1.2999 per pre-funded warrant).¹

Under the terms disclosed in an 8-K filing, iSpecimen agreed to issue and sell 996,231 shares of common stock and pre-funded warrants to purchase up to 2,849,923 shares of common stock, for an aggregate purchase price of $5,000,000 (or $5,000,285 assuming full exercise of the pre-funded warrants), before deducting placement agent fees and other offering expenses.¹

E.F. Hutton & Co. acted as the exclusive placement agent in connection with the offering.¹ As compensation, the company paid the placement agent a cash fee of 4.0% of aggregate gross proceeds plus reimbursement of certain expenses and legal fees and a 1% non-accountable expense allowance.¹

iSpecimen said it intends to use the proceeds for repayment of outstanding liabilities, potential acquisitions of assets or investments in businesses, products and technologies, and for marketing and advertising services, with the remainder used for working capital purposes.¹

The securities were offered and sold under a registration statement on Form S-1 (File No. 333-297001), filed with the SEC on June 24, 2026, and declared effective on July 30, 2026.¹

This offering follows a separate private placement completed earlier in 2026. On May 11, 2026, the company issued and sold an aggregate of 85,202 shares at $5.12 per share and 403,088 pre-funded warrants at $5.1199 per pre-funded warrant, for aggregate gross proceeds of approximately $2.5 million², before the company's 1-for-40 reverse stock split took effect on April 27, 2026, according to the prospectus filed alongside the offering.