IMAC Holdings enters $450K PIPE financing and acquires Theralink assets in settlement

IMAC Holdings, Inc.

On May 13, 2024, IMAC sold 450 shares of Series F convertible preferred stock and warrants for $450,000 cash.
Series F preferred has 10% annual dividend, converts at $3.401/share, and is redeemable at 110% of stated value.
Company acquired all assets of Theralink Technologies in settlement, forgiving $3M in notes and issuing Series D and E preferred.
IMAC will seek stockholder approval for issuance of shares under Nasdaq rules for the Series F and warrants.
Warrants have $3.401 exercise price, become exercisable after six months, and expire five years later.

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. entered into Securities Purchase Agreement with accredited investors valued at $450,000 (effective 2024-05-13).

Action: entry
Agreement: equity purchase
Counterparty: accredited investors
Value: $450,000
Effective: 2024-05-13

Exact text from the filing

On May 13, 2024, IMAC Holdings, Inc. (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, 450 shares of Series F convertible preferred stock, par value $0.001 per share (“Series F Preferred Stock”) and warrants (the “Warrants”, and, together with the Series F Preferred Stock, the “Securities”), for aggregate cash proceeds of $450,000.

View on SEC.gov

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

IMAC Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-020323

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.