E.F. Hutton & Co. Serves as Exclusive Placement Agent on iSpecimen Inc. $2.5 Million Private Placement
NEW YORK, May 12, 2026 (GLOBE NEWSWIRE) -- E.F. Hutton & Co. (“E.F. Hutton”), an investment banking and financial advisory firm headquartered in New York City, today announced that it acted as the exclusive placement agent in connection with a $2.5 million private placement for iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists requiring biospecimens for medical research with a network of healthcare specimen providers.
This transaction represents E.F. Hutton’s latest financing completed with iSpecimen. In December 2025, E.F. Hutton also acted as the exclusive placement agent in connection with a separate private placement for the Company, which raised approximately $5.5 million in gross proceeds. A demonstration of E.F. Hutton’s continued ability to execute strategic capital markets transactions and support growth-oriented companies across the healthcare and life sciences sectors.
Joseph T. Rallo, Chief Executive Officer of E.F. Hutton & Co., commented, “We are pleased to have advised iSpecimen on this successful financing. iSpecimen has established a differentiated and scalable platform that plays an important role in advancing medical research by improving access to high-quality human biospecimens for the scientific community. The Company’s innovative marketplace model and growing network of healthcare partners position it well to support the evolving needs of researchers and commercial organizations worldwide. We are proud to support iSpecimen as it continues to execute on its strategic growth initiatives and expand its impact across the medical discovery ecosystem.”
The offering closed on May 11, 2026. iSpecimen intends to use the net proceeds from the offering for working capital and general corporate purposes.
About E.F. Hutton & Co.
E.F. Hutton & Co. is an investment bank and broker-dealer headquartered in Manhattan, providing comprehensive advisory and financing solutions to a diverse range of clients including corporates, sponsors, and public-private partnerships. With a global footprint, we offer end-to-end investment banking services encompassing capital markets, PIPEs, private placements, M&A advisory, and strategic financing. The Executive Team at E.F. Hutton & Co. has a proven track record of delivering unwavering strategic advice to clients across the U.S., Asia, Europe, the UAE, and Latin America.
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