8-K
filed September 25, 2024, 7:59 PM ET
ticker ISPC
CIK 0001558569
debt
confidence high
sentiment negative
materiality 0.75
iSpecimen closes $1M note at 18% interest; lender secures three board seats
iSpecimen Inc.
- Issued $1M senior note with 18% annual interest, maturing in 12 months; net proceeds $960,000 after $40,000 placement fee.
- Three directors (Gullans, Mock, Graham) resigned; lender-designated directors Paolone, Dhaliwal, Field appointed effective Sept 25, 2024.
- Additional $1M revolving credit line available upon filing of a registration statement for a $5M+ public offering.
- New chairperson Katie Field; Paolone and Dhaliwal also join board committees.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steven Gullans resigned as Director at iSpecimen Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
The Company received letters of resignation from each of Steven Gullans and Theresa Mock, each as a member of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Katherine (Katie) Field was appointed as Chairperson at iSpecimen Inc..
- Action
- appointed
- Role
- Chairperson
Exact text from the filing
effective upon Closing on September 25, 2024, Richard Paolone, Avtar Dhaliwal and Katherine (Katie) Field were each appointed to serve on the Board as a Class I director, a Class II director and a Class III director of the Company, respectively, with Ms. Field appointed as the chairperson of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Elizabeth A. Graham resigned as Director at iSpecimen Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Elizabeth A. Graham, as a member and the chairperson of the Board, effective upon Closing
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Theresa Mock resigned as Director at iSpecimen Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
The Company received letters of resignation from each of Steven Gullans and Theresa Mock, each as a member of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Avtar Dhaliwal was appointed as Director at iSpecimen Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
effective upon Closing on September 25, 2024, Richard Paolone, Avtar Dhaliwal and Katherine (Katie) Field were each appointed to serve on the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard Paolone was appointed as Director at iSpecimen Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
effective upon Closing on September 25, 2024, Richard Paolone, Avtar Dhaliwal and Katherine (Katie) Field were each appointed to serve on the Board
View on SEC.gov
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