ISPC · iSpecimen Inc.

iSpecimen Inc. implemented a 1-for-40 reverse stock split effective April 27, 2026, as approved by the Board of Directors on April 9, 2026. This action followed stockholder authorization obtained at a special meeting on October 30, 2025, which granted the Board discretion to select a ratio between 1-for-10 and 1-for-100. The split reduced the company's outstanding common stock from 52,639,796 shares to approximately 1,316,032 shares. The primary objective is to increase the per share trading price to regain compliance with the Nasdaq Capital Market's minimum bid price requirement for continued listing. Concurrently, the company filed a Fifth Amended and Restated Certificate of Incorporation and a Certificate of Validation to ratify a prior defective corporate act—a 1-for-20 reverse stock split from September 13, 2024, for which the necessary certificate of amendment was never filed. This ratification, conducted under Section 204 of the Delaware General Corporation Law, cures the prior procedural failure. Proportionate adjustments were made to outstanding stock options, warrants, and restricted stock units. The company's common stock continues to trade under the symbol 'ISPC' with a new CUSIP number 45032V306.