UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On August 6, 2026, iSpecimen Inc. (the “Company”) entered into a Settlement Agreement and Mutual Release (the “Settlement Agreement”) with WestPark Capital, Inc. (“WestPark”) to resolve all disputes between them, including the arbitration captioned WestPark Capital, Inc. v. iSpecimen, Inc., JAMS Ref. No. 5425005724 (the “Arbitration”). The Arbitration arose from engagement agreements dated on or about July 31, 2025 and October 15, 2025 (together, the “Engagement Agreements”), pursuant to which WestPark provided investment banking services to the Company, including acting as underwriter for the Company’s underwritten public offering that closed on July 25, 2025. In the Arbitration, WestPark asserted claims seeking damages of $269,999.91, together with interest, fees, and costs. The Company denied all liability.
Under the Settlement Agreement, the Company paid WestPark $97,500 (the “Settlement Payment”) in full satisfaction of all claims. On August 10, 2026, WestPark filed a notice with JAMS dismissing the Arbitration and all claims asserted therein with prejudice, with each party to bear its own fees and costs. The Settlement Agreement also provides for (i) a mutual general release of all claims between the parties arising through the effective date of the Settlement Agreement, (ii) the termination of the Engagement Agreements in their entirety, including any tail fee, right of first refusal, or other surviving provisions, (iii) mutual confidentiality obligations, subject to exceptions for required regulatory and legal disclosures, and (iv) New York governing law with disputes subject to binding JAMS arbitration. The Settlement Agreement is not an admission of liability or wrongdoing by either party. The Company expects to record the Settlement Payment as a charge in the quarter ending September 30, 2026.
The foregoing description of the Settlement Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Settlement Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 1.02 Termination of a Material Definitive Agreement.
As described in Item 1.01 above, the Engagement Agreements between the Company and WestPark were terminated in their entirety effective on or about August 6, 2026, pursuant to the Settlement Agreement. The Engagement Agreements governed WestPark’s role as underwriter for the Company’s underwritten public offering that closed on July 25, 2025, which raised gross proceeds of approximately $4.0 million. No early termination penalties were incurred. The information set forth in Item 1.01 above is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1 | Settlement Agreement and Mutual Release, dated as of August 6, 2026, by and between iSpecimen Inc. and WestPark Capital, Inc. | |
| 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: August 11, 2026
| iSPECIMEN INC. | |||
| By: | /s/ Katharyn Field | ||
| Name: | Katharyn Field | ||
| Title: | Chief Executive Officer | ||
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