---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-014882"
form_type: "8-K"
ticker: "BACK"
cik: "0001729944"
company_name: "IMAC Holdings, Inc."
filed_at: "2024-04-16T23:59:59+00:00"
generated_at: "2026-06-03T22:19:57.369102+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# IMAC Holdings exchanges Series B preferred for Series C, raises $900k in PIPE

## Summary
- Exchanged 4,550 Series B shares for 4,750 Series C-1 shares at $2.561 conversion price; old warrants exchanged for new.
- PIPE sale of 1,276 Series C-2 shares and PIPE warrants netted ~$900k cash after settlement payments.
- New warrants (Exchange, PIPE, Placement Agent) exercisable for ~2.62M shares at $2.561, expiring Oct 2029.
- Company loans Theralink up to $1M (initial $350k at 9% cash/11% PIK), due Oct 12, 2024.
- Company must seek shareholder approval by July 31, 2024 to avoid full-ratchet anti-dilution on preferred and warrants.

## SEC filing metadata
- accession: 0001493152-24-014882
- form_type: 8-K
- ticker: BACK
- cik: 0001729944
- company_name: IMAC Holdings, Inc.
- filed_at: 2024-04-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1729944/000149315224014882/0001493152-24-014882-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1729944/000149315224014882/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-014882
- JSON: https://secwatch.observer/filing/0001493152-24-014882.json
- Plain text: https://secwatch.observer/filing/0001493152-24-014882.txt

## Key facts
- Material Agreements
  IMAC Holdings, Inc. entered into Securities Purchase Agreement with accredited investors valued at aggregate cash proceeds ... of $900,000 (effective 2024-04-10).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: accredited investors
  - Value: aggregate cash proceeds ... of $900,000
  - Effective: 2024-04-10
  source text: the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with accredited investors (the “Investors”), pursuant to which the Company agreed to issue and sell, and the Investors agreed to purchase, 1,276 shares of Series C-2 convertible preferred stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1729944/000149315224014882/0001493152-24-014882-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.