iSpecimen Closes $4 Million Underwritten Offering; Lucosky Brookman LLP Serves as Counsel to WestPark Capital
iSpecimen Inc. (Nasdaq: ISPC), an online marketplace connecting medical researchers with human biospecimens, has closed its previously announced underwritten public offering, raising gross proceeds of approximately $4 million through the sale of 5,714,283 shares of common stock (or pre-funded warrants in lieu thereof), at a public offering price of $0.70 per share.
Lucosky Brookman LLP served as legal counsel to WestPark Capital, Inc., which acted as the sole book-running manager for the offering.
The Company intends to use the net proceeds for several key initiatives:
- $1.5 million for marketing and advertising services with IR Agency LLC
- $1 million for an initial milestone payment under a definitive agreement with Sales Stack Solutions Corp.
- The remainder for general corporate purposes and working capital
The offering was conducted on a firm commitment basis under a registration statement on Form S-1 (File No. 333-286958), which was declared effective by the SEC on July 23, 2025.
This transaction reinforces continued interest in the digital health and life sciences space, with iSpecimen further strengthening its position as a technology platform for accelerating medical research.