iSpecimen (ISPC) stock drops in premarket after $5.5 million convertible preferred financing
iSpecimen Inc shares fell about 15% to $0.30 premarket after announcing a $5.5 million private placement of Series C convertible preferred stock. The preferred converts to common shares at a 15% discount to the prior day’s close, raising dilution concerns. The company remains below Nasdaq’s $1 minimum bid, with a compliance deadline of May 2026. Financing is expected to close Wednesday.
