iSpecimen, which provides an online marketplace platform for biospecimen procurement, raised $18 million by offering 2.25 million shares at $8, the low end of the range of $8 to $10. At pricing, the company commands a fully diluted market value of about $52 million.
During the 1Q21, iSpecimen's revenue increased 73% to $3 million, while its operating loss widened to -$0.9 million.
iSpecimen plans to list on the Nasdaq under the symbol ISPC. ThinkEquity acted as sole bookrunner on the deal.
