iSpecimen Announces 1-for-20 Reverse Stock Split

Core Points - iSpecimen Inc. will implement a reverse stock split at a ratio of 1-for-20, effective September 13, 2024, with trading on a split-adjusted basis starting September 16, 2024 [1][4] - The reverse stock split was approved by stockholders on July 19, 2024, and the final ratio was determined by the Board of Directors on August 19, 2024 [2] - The reverse stock split aims to increase the per share trading price to attract institutional investors and comply with Nasdaq's minimum bid price requirement [4] Company Operations - iSpecimen operates an online marketplace connecting scientists with healthcare specimen providers for medical research [6] - The company utilizes proprietary cloud-based technology to facilitate the search for biospecimens across a network of hospitals, labs, and other healthcare organizations [6] Stockholder Information - Registered stockholders will receive information from Broadridge Corporate Issuer Solutions, LLC regarding the exchange of pre-split shares for post-split shares [5]