Form 8-K

8-K — iSpecimen Inc.

Accession: 0001213900-26-087877

Filed: 2026-08-11

Period: 2026-08-06

CIK: 0001558569

SIC: 8731 (SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH)

Item: Entry into a Material Definitive Agreement

Item: Termination of a Material Definitive Agreement

Item: Financial Statements and Exhibits

Documents

8-K — ea0301317-8k_ispecimen.htm (Primary)

EX-10.1 — SETTLEMENT AGREEMENT AND MUTUAL RELEASE, DATED AS OF AUGUST 6, 2026, BY AND BETWEEN ISPECIMEN INC. AND WESTPARK CAPITAL, INC (ea030131701ex10-1.htm)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

August 6, 2026

iSpecimen Inc.

(Exact name of registrant as specified in its

charter)

Delaware

001-40501

27-0480143

(State or other jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

8 Cabot Road, Suite 1800

Woburn, MA 01801

(Address of principal executive offices, including zip code)

Registrant’s telephone number,

including area code: (781) 301-6700

Not Applicable

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities

Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange

Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b)

under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c)

under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

ISPC

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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).

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

EX-10.1 — SETTLEMENT AGREEMENT AND MUTUAL RELEASE, DATED AS OF AUGUST 6, 2026, BY AND BETWEEN ISPECIMEN INC. AND WESTPARK CAPITAL, INC

EX-10.1

Filename: ea030131701ex10-1.htm · Sequence: 2

Exhibit 10.1

SETTLEMENT AGREEMENT AND MUTUAL

RELEASE

This Settlement Agreement and Mutual

Release (the “Agreement”) is entered into by and between WestPark Capital, Inc. (“WestPark”) and iSpecimen, Inc. (“iSpecimen”).

WestPark and iSpecimen are referred to individually as a “Party” and collectively as the “Parties.” This Agreement

is effective as of the date of the last signature below (the “Effective Date”).

RECITALS

WHEREAS, the Parties entered into engagement

agreements dated on or about July 31, 2025 and on or about October 15, 2025 (together, the “Engagement Agreements”);

WHEREAS, WestPark commenced an arbitration

against iSpecimen before JAMS in New York, New York, captioned WestPark Capital, Inc. v. iSpecimen, Inc., JAMS Ref. No. 5425005724 (the

“Arbitration”), by a Statement of Claim asserting claims arising from the Engagement Agreements and seeking damages of $269,999.91,

together with interest, fees, and costs;

WHEREAS, iSpecimen denies any and

all liability with respect to the claims asserted in the Arbitration; and

WHEREAS, the Parties desire to fully

and finally resolve the Arbitration and all disputes between them without further expense or the uncertainty of continued proceedings;

NOW, THEREFORE, in consideration of

the mutual promises set forth below, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged,

the Parties agree as follows:

1. Settlement

Payment. iSpecimen shall pay WestPark the total sum of Ninety Seven Thousand Five Hundred Dollars ($97,500.00) (the “Settlement

Payment”) within three (3) business days of the Effective Date, by wire transfer pursuant to written wire instructions to be provided

by WestPark. The Settlement Payment is inclusive of all amounts claimed in the Arbitration, including all fees, interest, costs, and expenses

of any kind. In the event iSpecimen fails to timely remit the Settlement Payment as set forth above, iSpecimen shall have (5) calendar

days from the original due date to cure such failure without any notice or demand from WestPark (the “Default Period”). If

iSpecimen fails to pay the Settlement Payment in full before expiration of the Default Period, iSpecimen shall be deemed in default of

this Agreement (a “Default”), and WestPark shall thereupon be entitled, without further notice or demand, to the full claim

amount asserted in the Arbitration, in the amount of Two Hundred Sixty-Nine Thousand Nine Hundred Ninety-Nine Dollars and Ninety-One Cents

($269,999.91), less any partial payments actually received by WestPark. Upon a Default, the Parties agree that this Agreement shall be

submitted to the JAMS arbitrator (or, if unavailable, a successor JAMS arbitrator appointed pursuant to the JAMS Rules) for entry of a

consent award in the amount of $269,999.91, less credit for any partial payments received, and the Parties stipulate that such award may

be reduced to judgment and entered in any court of competent jurisdiction pursuant to the Federal Arbitration Act and/or applicable state

law, and thereafter enforced and collected by WestPark through any lawful means, including execution, garnishment, and levy.

2. Dismissal

of the Arbitration. Within five (5) business days of WestPark’s receipt of the Settlement Payment in full, WestPark shall file

with JAMS a notice or stipulation dismissing the Arbitration and all claims asserted therein with prejudice. Each Party shall bear its

own attorneys’ fees, costs, and expenses incurred in connection with the Arbitration

and this Agreement, including any JAMS fees paid or payable by that Party.

3. Mutual

General Release. Upon WestPark’s receipt of the Settlement Payment in full, each Party, on behalf of itself and its respective

past, present, and future parents, subsidiaries, affiliates, predecessors, successors, and assigns, and each of their respective officers,

directors, managers, members, shareholders, employees, agents, attorneys, and representatives, hereby fully and forever releases, acquits,

and discharges the other Party and its respective past, present, and future parents, subsidiaries, affiliates, predecessors, successors,

and assigns, and each of their respective officers, directors, managers, members, shareholders, employees, agents, attorneys, and representatives,

from any and all claims, demands, causes of action, obligations, damages, and liabilities of every kind and nature, whether known or unknown,

suspected or unsuspected, matured or unmatured, at law or in equity, arising from the beginning of time through the Effective Date, including

without limitation all claims that were asserted or could have been asserted in the Arbitration and all claims arising out of or relating

to the Engagement Agreements. Nothing in this Section releases any Party from its obligations under this Agreement.

4. Termination

of the Engagement Agreements. The Engagement Agreements, including any tail fee, right of first refusal, or other provisions that

by their terms survive expiration or termination, are hereby terminated in their entirety, and no further amounts are or shall become

due thereunder.

5. No

Admission of Liability. This Agreement is a compromise of disputed claims. Neither this Agreement, nor the Settlement Payment,

nor any of its terms shall be construed as an admission of liability or wrongdoing by any Party, and each Party expressly denies any such

liability or wrongdoing.

6. Confidentiality.

The Parties shall keep the terms of this Agreement confidential and shall not disclose them to any third party, except: (a) to

their respective attorneys, accountants, auditors, insurers, and tax and financial advisors; (b) as required by law, regulation, subpoena,

or court or arbitral order; (c) as required by the rules or requests of any governmental or self regulatory authority, including the Securities

and Exchange Commission and FINRA, or as reasonably determined to be required under applicable securities laws and disclosure obligations;

and (d) as necessary to enforce this Agreement. This Agreement and the negotiations leading to it are subject to Rule 408 of the Federal

Rules of Evidence and all analogous state provisions.

7. Representations

and Warranties. Each Party represents and warrants that: (a) it has full power and authority to enter into this Agreement, and

the person signing on its behalf is duly authorized to do so; (b) it has not sold, assigned, transferred, or encumbered any claim released

by this Agreement; and (c) it has had the opportunity to consult with counsel of its choosing and enters into this Agreement knowingly

and voluntarily.

8. Governing

Law and Dispute Resolution. This Agreement shall be governed by and construed in accordance with the laws of the State of New

York, without regard to its conflict of laws principles. Any dispute arising out of or relating to this Agreement shall be resolved by

binding arbitration before a sole arbitrator administered by JAMS in New York, New York, pursuant to its Comprehensive Arbitration Rules

and Procedures. The prevailing party in any proceeding to enforce this Agreement shall be entitled to recover its reasonable attorneys’

fees and costs.

9. Miscellaneous.

This Agreement constitutes the entire agreement between the Parties concerning its subject matter and supersedes all prior or

contemporaneous agreements, representations, and understandings, whether written or oral. This Agreement may not be amended except in

a writing signed by both Parties. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall

remain in full force and effect. This Agreement was jointly drafted and shall not be construed against either Party as drafter. This Agreement

is binding upon and inures to the benefit of the Parties and their respective successors and assigns. This Agreement may be executed in

counterparts, and signatures delivered by PDF, email, or electronic signature shall be deemed originals.

IN WITNESS WHEREOF, the Parties have executed this

Agreement as of the dates set forth below.

WESTPARK CAPITAL, INC.

By:

/s/ Frank Salvatore

Name:

Frank Salvatore

Title:

CRO

Date:

8/6/26

ISPECIMEN, INC.

By:

/s/ Katharyn Field

Name:

Katharyn Field

Title:

CEO

Date:

8/6/26

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