Sec Form 3 Filing - OBF Investments, LLC @ iSpecimen Inc. - 2021-06-16

Insider filing report for Changes in Beneficial Ownership
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FORM 3
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
OBF Investments, LLC
2. Issuer Name and Ticker or Trading Symbol
iSpecimen Inc. [ ISPC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O ISPECIMEN INC., 450 BEDFORD STREET
3. Date of Earliest Transaction (MM/DD/YY)
06/16/2021
(Street)
LEXINGTON, MA02420
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series B Preferred Stock ( 1 ) ( 1 ) ( 1 ) Common Stock 250,456 D ( 2 )
Convertible Note $ 5.6 ( 3 ) 06/30/2021 Common Stock 472,183 D
Bridge Note $ 5.6 ( 4 ) 06/30/2021 Common Stock 118,671 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
OBF Investments, LLC
C/O ISPECIMEN INC.
450 BEDFORD STREET
LEXINGTON, MA02420
X
Scholl George H.
C/O ISPECIMEN INC.
450 BEDFORD STREET
LEXINGTON, MA02420
X
Signatures
/s/ George "Bud" Scholl, as the President and Chief Executive of OBF Investments 06/17/2021
Signature of Reporting Person Date
/s/ George "Bud" Scholl 06/17/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Each share of preferred stock will automatically convert into shares of common stock upon the closing of the Issuer's initial public offering (the "IPO") and has no expiration date.
( 2 )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.
( 3 )The Convertible Note has a maturity date of June 30, 2021 and will automatically convert into 472,183 shares common stock at $8.00 upon the closing of the IPO.
( 4 )The Bridge Note has a maturity date of June 30, 2021 and will automatically convert into 118,671 shares common stock at $8.00 upon the closing of the IPO.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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