iSpecimen Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 4, 2025, iSpecimen Inc. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it no longer complies with Nasdaq Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders’ equity for continued listing on the Nasdaq Capital Market.
As reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025, the Company had stockholders’ equity of $1,668,513. Nasdaq further noted that the Company does not currently meet the alternative continued listing criteria related to market value of listed securities or net income from continuing operations.
The Nasdaq notification has no immediate effect on the listing or trading of the Company’s common stock, which will continue to trade on the Nasdaq Capital Market under the symbol “ISPC”. Under Nasdaq rules, the Company has 45 calendar days from the date of the notice to submit a plan to regain compliance. If Nasdaq accepts the plan, the Company may be granted an extension of up to 180 calendar days from the date of the notice to evidence compliance.
The Company intends to submit a compliance plan within the required timeframe. There can be no assurance that Nasdaq will accept the plan or that the Company will ultimately regain compliance within the applicable period. If the plan is not accepted, the Company will have the opportunity to appeal the determination to a Nasdaq Hearings Panel.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: June 5, 2025
| iSPECIMEN INC. | |||
| By: | /s/ ROBERT BRADLEY LIM | ||
| Name: | Robert Bradley Lim | ||
| Title: | Chief Executive Officer | ||
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