iSpecimen Inc. Announces Closing of $5 Million Public Offering of Common Stock and Pre-Funded Warrants

Core Viewpoint - iSpecimen Inc. has successfully closed a public offering of approximately $5 million in common stock and pre-funded warrants, with the intention to utilize the proceeds for debt repayment, potential acquisitions, and working capital [1]. Group 1: Offering Details - The public offering price was set at$3.00 per share, with a minor deduction for pre-funded warrants [1]. - WestPark Capital, Inc. is acting as the exclusive placement agent for this offering [2]. - The offering is conducted under the Company's registration statement on Form S-1, which was filed with the SEC on October 18, 2024, and declared effective on October 29, 2024 [3]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated for the repayment of outstanding debt, potential acquisitions of assets, investments in businesses, products, technologies, and marketing services [1]. - The remaining funds will be directed towards working capital purposes [1]. Group 3: Company Overview - iSpecimen operates an online marketplace that connects scientists with healthcare specimen providers for medical research [5]. - The company utilizes proprietary, cloud-based technology to facilitate the search for biospecimens across a network of healthcare organizations [5].