iSpecimen Inc. Announces Pricing of Approximately $2.5 Million Private Placement

May 8, 2026

WOBURN, Mass., May 08, 2026 (GLOBE NEWSWIRE) -- iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists requiring biospecimens for medical research with a network of healthcare specimen providers, today announced that it has priced a private placement with accredited investors for aggregate gross proceeds of approximately $2.5 million, before deducting fees to the placement agent and other offering expenses payable by the Company.

In connection with the offering, the Company will issue 488,281 shares of common stock (the “Shares”) at a purchase price of $5.12 per Share. In lieu of Shares that would otherwise result in a purchaser’s beneficial ownership exceeding 4.99% of the outstanding common stock, certain purchasers may elect to receive pre-funded warrants (the “Pre-Funded Warrants”) at a purchase price of $5.1199 per Pre-Funded Warrant (equal to the per Share purchase price less $0.0001). Each Pre-Funded Warrant is exercisable immediately upon issuance for one share of common stock at an exercise price of $0.0001 per share and will remain exercisable until exercised in full.

The Company intends to use the net proceeds from the offering for working capital purposes, including up to $900,000 in marketing expenses.

The offering is expected to close on or about May 11, 2026, subject to the satisfaction of customary closing conditions. Pursuant to the terms of the transaction documents, the aggregate number of shares of common stock issuable to the purchasers in the offering (including upon exercise of the Pre-Funded Warrants and giving effect to any anti-dilution and price adjustment provisions thereunder) is subject to a cap of 19.99% of the Company's outstanding common stock immediately prior to the execution of the securities purchase agreement, until such time as the Company obtains the approval of its stockholders required under applicable Nasdaq Listing Rules. The Company has agreed to file a preliminary proxy statement with the SEC within 30 days following the closing of the offering and to hold a meeting of stockholders to seek such approval within 90 days following the closing.

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