E.F. Hutton & Co. Facilitates $5.5 Million Private Placement for iSpecimen Inc. (ISPC)
On January 6, 2026, E.F. Hutton & Co., a respected investment bank and broker-dealer based in Manhattan, announced its role as the exclusive placement agent for iSpecimen Inc. (Nasdaq: ISPC). This private placement successfully raised approximately $5.5 million in gross proceeds, prior to fees and expenses. The deal underscores the growing interest within capital markets for innovative healthcare technology platforms that facilitate essential medical research and discovery.
Details of the Private Placement
Under the terms of the securities purchase agreement, iSpecimen will issue 6,875 shares of newly designated Series C Convertible Preferred Stock at a purchase price of $800 per share. Each share has a designated value of $1,000 and can be converted into shares of common stock at a conversion price equivalent to 85% of the closing price of iSpecimen's common stock on the trading day before each conversion date. The offering is anticipated to close on or about December 31, 2025, pending customary closing conditions.
Strategic Growth Capital for iSpecimen
This transaction provides iSpecimen with strategic growth capital needed for its commercialization and expansion initiatives while maintaining flexibility. The net proceeds will primarily support:
- Marketing efforts
- Working capital needs
- General corporate purposes
Joseph T. Rallo, Chief Executive Officer of E.F. Hutton & Co., stated, “Our team worked closely with iSpecimen to structure a transaction that meets its capital needs today while preserving future flexibility. We value the trust placed in E.F. Hutton & Co. as exclusive placement agent.”
Regulatory Compliance and Securities Information
The securities were offered in a private placement in accordance with Section 4(a)(2) of the Securities Act of 1933 and Regulation D, and were sold exclusively to accredited investors. Importantly, these securities have not been registered under the Securities Act or applicable state laws. iSpecimen has additionally committed to filing one or more registration statements that will cover the resale of common stock that is potentially issuable upon conversion of the preferred shares.
About E.F. Hutton & Co.
E.F. Hutton & Co. is an investment bank and broker-dealer located in Manhattan, offering a diverse range of advisory and financing solutions to corporations, sponsorships, and public-private partnerships. The firm has a notable global footprint, delivering expertise across various areas, including:
- Capital markets
- Private placements
- PIPEs
- Mergers and acquisitions
- Strategic financing
Contact Information
For further inquiries, please contact:
- Email: info@efhutton.com
- Website: E.F. Hutton & Co.
- Phone: (212) 970-3700