iSpecimen Inc. Announces Closing of Approximately $1.75 Million Private Placement Priced At-the-Market

Core Points - iSpecimen Inc. closed a private placement for approximately $1.75 million in gross proceeds, intended for marketing and working capital [1][2][3] - The company issued 1,559,828 shares of common stock at a price of $1.122 per share [2] - WestPark Capital, Inc. acted as the exclusive placement agent for the offering [3] Financial Details - The net proceeds will be allocated as follows: $500,000 for marketing and advertising services, with the remainder for working capital and general corporate purposes [1] - The offering closed on August 4, 2025 [2] Company Overview - 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 healthcare organizations [6]