secwatch.observer — SEC 8-K summary
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Issuer:     IMAC Holdings, Inc. (BACK)
CIK:        0001729944
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0001493152-24-020323
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1729944/000149315224020323/0001493152-24-020323-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1729944/000149315224020323/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-020323

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