IMAC Holdings terminates Theralink merger, acquires assets via settlement

IMAC Holdings, Inc.

On May 6, 2024, IMAC terminated the May 2023 merger agreement with Theralink after acquiring Theralink's assets on May 1 via settlement of defaulted debt.
Asset acquisition: IMAC acquired Theralink's assets (excluding certain excluded assets) and will issue preferred shares after a third-party valuation.
IMAC is withdrawing the S-4 registration statement related to the terminated merger.
CEO Jeff Ervin states the settlement provides a more efficient direction; key employees will be transitioned to stabilize operations.

item 1.02 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. terminated Agreement and Plan of Merger with Theralink Technologies, Inc. (effective 2024-05-06).

Action: termination
Agreement: merger
Counterparty: Theralink Technologies, Inc.
Effective: 2024-05-06

Exact text from the filing

on May 6, 2024, the Company, IMAC Merger Sub, Inc. (“ Merger Sub ”) and Theralink entered into a Termination Agreement, which immediately terminated the Agreement and Plan of Merger, dated May 26, 2023, by and between the Company, Merger Sub and Theralink

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IMAC Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-018033

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