IMAC defaults on notes, transfers Ignite assets to satisfy debt; Aditxt acquires Ignite for $36M in preferred stock

IMAC Holdings, Inc.

IMAC acknowledges default under senior secured notes and transfers 100% of Ignite Proteomics equity and related assets to collateral agent.
The turnover fully satisfies all obligations under the notes held by Cavalry Fund I SPV I LP and other noteholders.
Ignite Assets to be sold to Aditxt for minimum stated value of $35M; Aditxt pays with $36M in Series A-2 convertible preferred stock.
Securities Purchase Agreement includes piggyback registration rights and customary representations; closing conditions typical.
Unregistered offering of preferred stock under Section 4(a)(2)/Rule 506(b); shares not registered.

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 Aditxt, Inc. ("ADTX") and several investors party thereto valued at aggregate of $36,000,000 (effective 2026-03-11).

Action: entry
Agreement: equity purchase
Counterparty: Aditxt, Inc. ("ADTX") and several investors party thereto
Value: aggregate of $36,000,000
Effective: 2026-03-11

Exact text from the filing

On March 11, 2026, the Company also entered into a securities purchase agreement (the “Securities Purchase Agreement”) with ADTX and several investors party thereto (the “Investors”) pursuant to which ADTX sold a new series of convertible preferred stock designated as Series A-2 convertible preferred stock, $0.001 par value per share which are convertible to shares of common stock (the “A-2 Preferred Stock”) in an amount of $1,000 per share (for an aggregate of $36,000,000).

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

IMAC Holdings, Inc. entered into Turnover and Release Agreement with Cavalry Fund I SPV I LP (as collateral agent) and the Noteholders valued at stated value of at least $35 million (effective 2026-03-11).

Action: entry
Agreement: settlement
Counterparty: Cavalry Fund I SPV I LP (as collateral agent) and the Noteholders
Value: stated value of at least $35 million
Effective: 2026-03-11

Exact text from the filing

On March 11, 2026, IMAC Holdings, Inc., a Delaware corporation (the “Company”) entered into a voluntary turnover, retention in satisfaction and release agreement (the “Turnover and Release Agreement”) with Cavalry Fund I SPV I LP, a Delaware limited partnership, as collateral agent (the “Collateral Agent”) and the holders (the “Noteholders”) of senior secured notes

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IMAC Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-011609

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