LEXINGTON, Mass., Nov. 29, 2021 /PRNewswire/ -- iSpecimen
Inc. (Nasdaq: ISPC) ("iSpecimen" or the "Company"), an
online marketplace for human biospecimens, today announced
that it has entered into a definitive securities purchase agreement
for a private placement with three accredited investors for the
sale of 1,749,999 shares of common stock of iSpecimen together
with warrants to purchase 1,312,500 shares of common stock
("Warrants"), which will result in gross proceeds to iSpecimen of
approximately $21.0 million, before
deducting placement offering expenses. Each share of common stock
and accompanying three-quarters of one Warrant are being sold at a
combined offering price of $12.00.
The detachable Warrants have a five and one-half year term and an
exercise price of $13.00 per
share. This private placement is expected to close on
December 1, 2021, subject to
customary closing conditions.
The securities offered and sold by iSpecimen in the private
placement have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), or state securities laws
and may not be offered or sold in the
United States absent registration with the Securities and
Exchange Commission (the "SEC") or an applicable exemption from
such registration requirements. iSpecimen has agreed to file a
registration statement with the SEC covering the resale of the
shares of common stock and the shares of common stock underlying
the Warrants to be issued in the private placement. Any resale of
iSpecimen's shares of common stock under such resale registration
statement will be made only by means of a prospectus.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The securities will not be registered under the
Securities Act or any state securities laws when issued at the
closing of the private placement, and unless so registered, may not
be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state
laws.
About iSpecimen
iSpecimen offers an online marketplace for human biospecimens,
connecting life scientists in commercial and non-profit
organizations with healthcare providers that have access to
patients and specimens needed for medical discovery. Proprietary,
cloud-based technology enables scientists to intuitively search for
specimens and patients across a federated partner network of
hospitals, labs, biobanks, blood centers, and other healthcare
organizations. For more information about iSpecimen, please
visit www.ispecimen.com.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended. Such
forward-looking statements are characterized by future or
conditional verbs such as "may," "will," "expect," "intend,"
"anticipate," believe," "estimate" and "continue" or similar words.
You should read statements that contain these words carefully
because they discuss future expectations and plans, which contain
projections of future results of operations or financial condition
or state other forward-looking information.
Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to the risk factors contained in
the Company's filings with the SEC, which are available for review
at www.sec.gov. Forward-looking statements speak only as of
the date they are made. New risks and uncertainties arise over
time, and it is not possible for the Company to predict those
events or how they may affect the Company. If a change to the
events and circumstances reflected in the Company's forward-looking
statements occurs, the Company's business, financial condition and
operating results may vary materially from those expressed in the
Company's forward-looking statements.
Readers are cautioned not to put undue reliance on
forward-looking statements, and the Company assumes no obligation
and does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
For further information, please contact:
Investor Contact
KCSA Strategic Communications
Allison Soss
iSpecimen@kcsa.com
Media Contact
Kaitlynn
Cooney
For iSpecimen
kcooney@brodeur.com
617.587.2811
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SOURCE iSpecimen Inc.