IMAC Holdings, Inc. (BACK): Nasdaq/NYSE listing notice — IMAC Holdings raises $4.3M in financing to regain Nasdaq equity compliance; still below bid price

IMAC Holdings, Inc.

Closed $4.3M convertible preferred stock and warrant offering on July 25; gross proceeds before fees.
As-adjusted stockholders' equity of $4.816M as of March 31, 2023, up from $996,955, exceeding Nasdaq's $2.5M minimum.
Company still fails Nasdaq minimum bid price requirement; plans reverse stock split to cure by Sept 18, 2023.
Preferred stock carries 12% dividend, convertible at $0.1092/share (subject to shareholder approval), warrants exercisable at same price.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

IMAC Holdings, Inc. received a nasdaq compliance regained notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: compliance regained
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

August 3, 2023, the Company submitted a plan to Nasdaq to grant the Company an extension of time until November 27, 2023 to provide evidence of compliance with the Minimum Equity Rule, and by filing this Current Report on Form 8-K, which includes (1) disclosure of Nasdaq’s deficiency letter and the specific deficiency or deficiencies cited; (2) a description of the completed transaction or event that enabled the Company to satisfy the stockholders’ equity requirement for continued listing; (3) an affirmative statement that, as of the date of the report, the Company believes it has regained com

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19 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

IMAC Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-026905

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