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.