IMAC Holdings raises $250K via convertible preferred; cuts conversion price to $1.84

IMAC Holdings, Inc.

Entered letter agreement with institutional investors for additional $250,000 of convertible preferred stock.
Exchanged Series A-1/A-2 preferred for new Series B-1/B-2 preferred, convertible at $1.84/share (above recent close).
Warrant exercise price reduced to $1.84; proceeds for working capital and general corporate purposes.
Securities sold in private placement under Section 4(a)(2)/Regulation D; Joseph Gunnar acted as placement agent.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IMAC Holdings, Inc. amended the letter agreement with the Investors valued at $250,000 (effective 2023-12-20).

Action: amendment
Agreement: equity purchase
Counterparty: the Investors
Value: $250,000
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, the Company entered into a letter agreement with the Investors providing for the sale of an additional aggregate $250,000 of convertible preferred stock (the "Private Placement").

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IMAC Holdings, Inc. entered into the "Private Placement" with several institutional and accredited investors valued at $250,000 (effective 2023-12-20).

Action: entry
Agreement: equity purchase
Counterparty: several institutional and accredited investors
Value: $250,000
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, the Company entered into a letter agreement with the Investors providing for the sale of an additional aggregate $250,000 of convertible preferred stock (the "Private Placement").

View on SEC.gov

269 material agreements filed in the last 30 days. Browse all material agreements →

IMAC Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-046280

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