iSpecimen shareholders approve reverse stock split at special meeting

iSpecimen Inc., a Delaware-based company listed on the Nasdaq Stock Market, has seen its shareholders approve a reverse stock split during a special meeting held on October 30. The reverse split, which can occur at a ratio between one-for-ten and one-for-one hundred, was ratified by 1,152,016 votes in favor, 142,944 votes against, and 868 abstentions.

The exact ratio will be determined by the board. Prior to the meeting, 2,518,590 shares were eligible to vote, and 1,295,828 shares attended or voted by proxy, representing 51.5% of the outstanding shares and forming a quorum. The company's common stock is currently trading under the symbol ISPC. This reverse stock split decision follows the settlement of a recent arbitration case between iSpecimen Inc. and WestPark Capital, Inc., in which the company agreed to pay $97,500 to resolve disputes related to previous investment banking engagements.