The latest announcement is out from iSpecimen ( (ISPC) ).
iSpecimen Inc. has secured a $1,000,000 loan from a lender, repayable within 12 months at 18% annual interest. Additionally, the lender may provide another $1,000,000 as a revolving credit line if iSpecimen initiates a qualifying public offering. As part of the agreement, three board members resigned and were replaced by lender-approved directors. These changes occurred alongside the company’s receipt of the loan funds, netting $960,000 after paying a $40,000 placement agent fee. The new directors bring diverse expertise from legal, cannabis, technology, and food industries, enhancing iSpecimen’s board with their experience in corporate finance, strategy consulting, and executive leadership.
See more data about ISPC stock on TipRanks’ Stock Analysis page.
