OBF Investments, LLC - Jun 21, 2021 Form 4 Insider Report for iSpecimen Inc. (ISPC)

Role
10%+ Owner
Signature
/s/ George "Bud" Scholl, as the President and Chief Executive Officer of OBF Investments
Stock symbol
ISPC
Transactions as of
Jun 21, 2021
Transactions value $
$0
Form type
4
Date filed
6/23/2021, 07:58 PM
Previous filing
Jun 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ISPC Common Stock Conversion of derivative security +250K 250K Jun 21, 2021 Direct F1, F4
transaction ISPC Common Stock Conversion of derivative security +472K +188.65% 723K Jun 21, 2021 Direct F2, F4
transaction ISPC Common Stock Conversion of derivative security +119K +16.47% 842K Jun 21, 2021 Direct F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ISPC Series B Preferred Stock Conversion of derivative security -250K -100% 0 Jun 21, 2021 Common Stock 250K Direct F5
transaction ISPC Convertible Note Other +307 +0.07% 472K Jun 21, 2021 Common Stock 307 Direct F6, F8
transaction ISPC Convertible Note Conversion of derivative security -472K -100% 0 Jun 21, 2021 Common Stock 472K $5.60 Direct F6
transaction ISPC Bridge Note Other +364 +0.31% 119K Jun 21, 2021 Common Stock 364 Direct F7, F9
transaction ISPC Bridge Note Conversion of derivative security -119K -100% 0 Jun 21, 2021 Common Stock 119K $5.60 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares were issued to the reporting person upon conversion of the Issuer's Series B Preferred Stock owned through the date of conversion.
F2 Shares were issued to the reporting person upon conversion of an aggregate of $2,645,945 in principal and accrued interest through June 21, 2021 under a convertible note owed to the reporting person.
F3 Shares were issued to the reporting person upon conversion of an aggregate of $666,603 in principal and accrued interest through June 21, 2021 under a bridge note owed to the reporting person.
F4 Mr. George "Bud" Scholl is the President and Chief Executive Officer of OBF Investments, and therefore, may be deemed to hold voting and dispositive power of the securities held by OBF Investments.
F5 Shares of Series B Preferred Stock automatically converted into shares of common stock upon the closing of the Issuer's initial public offering (the "IPO) and has no expiration date.
F6 The convertible note has a maturity date of June 30, 2021 and automatically converted into 472,490 shares of common stock at $5.60 upon the closing of the IPO.
F7 The bridge note has a maturity date of June 30, 2021 and automatically converted into 119,035 shares of common stock at $5.60 upon the closing of the IPO.
F8 Represents accrued interest from June 17, 2021 to June 21, 2021 under the convertible note.
F9 Represents accrued interest from June 17, 2021 to June 21, 2021 under the bridge note