{"url_path":"/sec/ispc/8-k/2026-08-11/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-08-11","source_url":"https://www.sec.gov/Archives/edgar/data/1558569/0001213900-26-087877-index.html","accession_number":"0001213900-26-087877","cik":"0001558569","ticker":"ISPC","issuer_name":"iSpecimen Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1558569/0001213900-26-087877-index.html","primary_entity_key":"0001558569","primary_entity_name":"iSpecimen Inc."},"word_count":328,"has_tables":true,"body_markdown":"**Item 1.01 Entry into a Material Definitive\nAgreement.**\n\n \n\nOn August 6, 2026, iSpecimen Inc. (the “Company”)\nentered into a Settlement Agreement and Mutual Release (the “Settlement Agreement”) with WestPark Capital, Inc. (“WestPark”)\nto resolve all disputes between them, including the arbitration captioned *WestPark Capital, Inc. v. iSpecimen, Inc.*, JAMS Ref.\nNo. 5425005724 (the “Arbitration”). The Arbitration arose from engagement agreements dated on or about July 31, 2025 and October\n15, 2025 (together, the “Engagement Agreements”), pursuant to which WestPark provided investment banking services to the Company,\nincluding acting as underwriter for the Company’s underwritten public offering that closed on July 25, 2025. In the Arbitration,\nWestPark asserted claims seeking damages of $269,999.91, together with interest, fees, and costs. The Company denied all liability.\n\n \n\nUnder the Settlement Agreement, the Company paid WestPark $97,500 (the “Settlement Payment”) in full satisfaction of all claims.\nOn August 10, 2026, WestPark filed a notice with JAMS dismissing the Arbitration and all claims asserted therein with prejudice, with\neach party to bear its own fees and costs. The Settlement Agreement also provides for (i) a mutual general release of all claims between\nthe parties arising through the effective date of the Settlement Agreement, (ii) the termination of the Engagement Agreements in their\nentirety, including any tail fee, right of first refusal, or other surviving provisions, (iii) mutual confidentiality obligations, subject\nto exceptions for required regulatory and legal disclosures, and (iv) New York governing law with disputes subject to binding JAMS arbitration.\nThe Settlement Agreement is not an admission of liability or wrongdoing by either party. The Company expects to record the Settlement\nPayment as a charge in the quarter ending September 30, 2026. \n\n \n\nThe foregoing description of the Settlement Agreement\ndoes not purport to be complete and is qualified in its entirety by reference to the full text of the Settlement Agreement, a copy of\nwhich is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference."}