ISPC - iSpecimen secures $21M capital raise in private placement

iSpecimen (NASDAQ:ISPC) has entered into a securities purchase agreement with three investors for the sale of ~1.75M shares of common stock together with warrants to purchase ~1.3M shares in a private placement, for gross proceeds ~$21M. Each share of common stock and accompanying three-quarters of one warrant being sold at a combined price of $12.00. The detachable Warrants have a five and one-half year term and an exercise price of $13.00/share. Closing date is December 1, 2021. Over the past week, ISPC stock has gained around 256% amid new variant fears and winning contract for COVID-19 research.

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iSpecimen secures $21M capital raise in private placement