(RTTNews) - iSpecimen Inc. (ISPC), an online marketplace for biospecimens, announced on Friday a private placement of 488,281 shares at $5.12 per share.
The company is offering up to 488,281 shares of common stock at $5.12 per share. The offering is expected to close on May 11, 2026.
In lieu of shares, iSpecimen is offering certain purchasers pre-funded warrants at $5.1199 per pre-funded warrant. The pre-funded warrants are exercisable immediately at a rate of 0.0001 per share.
Gross proceeds from the offering are expected to be $2.50 million. Proceeds are expected to be utilized as working capital, including $900,000 for marketing expenses.
ISPC closed Friday at $5.12, down 3.21%. In the pre-market, the stock is trading at $5.36, up 4.63%.
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