IMAC Holdings Faces Delisting Concerns

Ticker: BACK · Form: 8-K · Filed: Jan 23, 2025 · CIK: 1729944

Sentiment: bearish

Topics: delisting, listing-standards, regulatory-filing

TL;DR

IMAC Holdings might get delisted, filing says.

AI Summary

IMAC Holdings, Inc. filed an 8-K on January 23, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, and other events. The earliest event reported was on January 21, 2025. The company is incorporated in Delaware and its principal executive offices are located in Franklin, Tennessee.

Why It Matters

This filing indicates potential issues with IMAC Holdings' compliance with stock exchange listing requirements, which could lead to the company's stock being delisted.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can severely impact a company's stock value and liquidity.

Key Players & Entities

FAQ

What specific listing rule or standard has IMAC Holdings, Inc. failed to satisfy?

The filing does not specify the exact listing rule or standard that IMAC Holdings, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy such a rule or standard has been issued.

What is the earliest date of the event reported in this 8-K filing?

The earliest date of the event reported in this 8-K filing is January 21, 2025.

When was this 8-K form filed with the SEC?

This 8-K form was filed with the SEC on January 23, 2025.

In which state was IMAC Holdings, Inc. incorporated?

IMAC Holdings, Inc. was incorporated in Delaware.

What is the business address of IMAC Holdings, Inc.?

The business address of IMAC Holdings, Inc. is 3401 Mallory Lane, Suite 100, Franklin, Tennessee 37067.

Filing Stats: 1,046 words · 4 min read · ~3 pages · Grade level 14.5 · Accepted 2025-01-22 18:10:42

Key Financial Figures

Filing Documents

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 21, 2025 IMAC Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 001-38797 83-0784691 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 3401 Mallory Lane , Suite 100 Franklin , Tennessee 37067 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (844) 266-4622 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share BACK Nasdaq Capital Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, on May 31, 2023, IMAC Holdings, Inc. (the "Company") received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was not in compliance with the minimum stockholders' equity requirement of $2.5 million for continued listing on the Nasdaq Capital Market under Listing Rule 5550(b)(1) (the "Equity Rule"), and on July 17, 2024, the Company was notified by Nasdaq that it regained compliance with the minimum stockholders' equity requirement and was subjected to a one-year "Panel Monitor" as defined by Nasdaq Listing Rule 5815(d)(4)(B). On January 21, 2025, the Company received notice (the "Notice") from the staff (the "Staff") of Nasdaq advising the Company that it no longer complies with the Equity Rule. Due to the Panel Monitor, the Company is not eligible to submit a plan to the Staff to request an extension of up to 180 calendar days in which to regain compliance with the Equity Rule, and as a result, the Staff has determined to delist the Company's securities from Nasdaq. Accordingly, unless the Company requests an appeal of this determination by January 28, 2025, the Company's securities will be scheduled for delisting from Nasdaq and will be suspended at the opening of business on January 30, 2025. Under Nasdaq rules, the Company may request an appeal of this determination to a Hearings Panel (the "Panel") by January 28, 2025, to prevent its securities from being delisted and suspended at the opening of business on January 30, 2025. The Company intends, within the allotted time, to appeal the Staff's determination to the Panel. The Company's common stock will continue to trade on Nasdaq during the appeal process. Forward-Looking This document and the exhibits contain forward-looking statements within the meaning of Section 21E of the Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, including, but not limited to, with Nasdaq's listing rules, as well as all statements that are not historical facts. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this Current Report due to certain risks and uncertainties. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to, the risk that the completion and submission of an appeal will take longer than expected; the duration of any extension that may be granted by Nasdaq; and the risk that the Company will be unable to meet Nasdaq's continued listing requirements. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements set forth in reports filed with the SEC, including the Company's cu

View Full Filing

View this 8-K filing on SEC EDGAR

View on Read The Filing