secwatch.observer — SEC 8-K summary
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Issuer:     IMAC Holdings, Inc. (BACK)
CIK:        0001729944
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0001493152-23-025920
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IMAC Holdings raises $4.3M via convertible preferred and warrants for Theralink merger
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- Gross proceeds of $4.3M from sale of 2,500 Series A-1 and 1,800 Series A-2 convertible preferred shares, plus warrants for 62.3M common shares.
- Conversion/exercise price set at $0.1092 per share; Series A-1 carries 12% dividend; conversion and exercise require shareholder approval.
- Approximately $3.0M of proceeds will be loaned to Theralink for sales, marketing, and working capital to advance the planned merger.
- Private placement includes existing Theralink significant investors and Theralink's Chairman; Joseph Gunnar & Co. acted as placement agent.
- Company agreed to file a resale registration statement with SEC within 45 days after merger closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1729944/000149315223025920/0001493152-23-025920-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1729944/000149315223025920/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-025920

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