---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-011609"
form_type: "8-K"
ticker: "BACK"
cik: "0001729944"
company_name: "IMAC Holdings, Inc."
filed_at: "2026-03-19T23:59:59+00:00"
generated_at: "2026-05-15T09:39:04.778735+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-011609
- form_type: 8-K
- ticker: BACK
- cik: 0001729944
- company_name: IMAC Holdings, Inc.
- filed_at: 2026-03-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1729944/000149315226011609/0001493152-26-011609-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1729944/000149315226011609/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-011609
- JSON: https://secwatch.observer/filing/0001493152-26-011609.json
- Plain text: https://secwatch.observer/filing/0001493152-26-011609.txt

## Key facts
- Material Agreements
  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
  source text: 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).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1729944/000149315226011609/0001493152-26-011609-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1729944/000149315226011609/0001493152-26-011609-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.