Inspire Veterinary Partners Files S-1/A Amendment

TL;DR

Inspire Vet Partners filed S-1/A amendment 3, moving closer to IPO. Get ready.

AI Summary

Inspire Veterinary Partners, Inc. filed Amendment No. 3 to its Form S-1 on July 1, 2024, for its initial public offering. The company, incorporated in Nevada, is seeking to register an unspecified number of shares. The filing provides updated information regarding its business, financials, and the terms of the offering, with its principal executive offices located at 780 Lynnhaven Parkway, Virginia Beach, Virginia.

Why It Matters

This S-1/A filing indicates that Inspire Veterinary Partners is moving forward with its IPO process, which could lead to increased capital for expansion and potentially impact the veterinary services market.

Risk Assessment

Risk Level: medium — As an S-1/A filing, it represents a company in the process of going public, which inherently carries risks related to market reception, valuation, and future performance.

Key Numbers

• 333-280194 — SEC File Number (Identifies the specific registration statement)
• 20240701 — Filing Date (Date the amendment was submitted to the SEC)

Key Players & Entities

• INSPIRE VETERINARY PARTNERS, INC. (company) — Registrant
• 0001939365 (company) — Central Index Key
• NV (company) — State of Incorporation
• 780 Lynnhaven Parkway Suite 400 Virginia Beach, Virginia 23452 (company) — Principal Executive Offices Address
• (757) 734-5464 (company) — Principal Executive Offices Telephone
• The Crone Law Group, PC (company) — Legal Counsel
• Mark E. Crone, Esq. (person) — Legal Counsel
• Joe Laxa (person) — Legal Counsel

FAQ

Key Financial Figures

• $0.001 — of the Company's Class A common stock, $0.001 par value per share and one warrant ("W
• $1.315 — g price of our Class A common stock was $1.315 per share. There is no established publ
• $125,000 — -pocket expenses in the amount of up to $125,000. See "Plan of Distribution" for a descr
• $250,000 — and collectively the "Notes") each for $250,000. The Notes have a maturity date of the
• $0.03 — teholder at a fixed conversion price of $0.03 per share (the "Fixed Conversion Price"
• $1,000,000 — s will increase by 20% (to a 50% OID -- $1,000,000 Face Value); (ii) the conversion price
• $0.01 — he existing Series A Preferred Stock to $0.01. In the event a noteholder agrees to r
• $0.10 — s securities had a closing bid price of $0.10 or less for at least ten consecutive tr
• $788,259 — the Company's stockholders' deficit of ($788,259) as reported in the Company's Annual Re
• $0.0001 — ares of Class A common stock, par value $0.0001 per share (the "Common Stock"), at a ra
• $210,000 — Mr. Frank will receive a base salary of $210,000 per annum. The base salary will be revi
• $151,695.60 — , Inspire agreed to issue to Dr. Kesier $151,695.60 worth of restricted shares of Class A c
• $0.0813 — mon stock based on the closing price of $0.0813 per share on the last trading day immed
• $5,000 — ompany agreed to issue to each Releasor $5,000 worth of restricted shares of Class A c
• $30.0 million — rtain conditions and limitations, up to $30.0 million of shares of Class A common stock, at o

Filing Documents

• ea0208737-s1a3_inspire.htm (S-1/A) — 3085KB
• ea020873701ex5-1_inspire.htm (EX-5.1) — 11KB
• image_001.jpg (GRAPHIC) — 5KB
• image_002.jpg (GRAPHIC) — 6KB
• image_003.jpg (GRAPHIC) — 70KB
• image_004.jpg (GRAPHIC) — 30KB
• image_005.jpg (GRAPHIC) — 379KB
• ex5-1_001.jpg (GRAPHIC) — 18KB
• ex5-1_002.jpg (GRAPHIC) — 4KB
• 0001213900-24-057588.txt ( ) — 14756KB
• ivp-20240331.xsd (EX-101.SCH) — 133KB
• ivp-20240331_cal.xml (EX-101.CAL) — 62KB
• ivp-20240331_def.xml (EX-101.DEF) — 722KB
• ivp-20240331_lab.xml (EX-101.LAB) — 937KB
• ivp-20240331_pre.xml (EX-101.PRE) — 715KB
• ea0208737-s1a3_inspire_htm.xml (XML) — 1700KB

Risk Factors

Risk Factors 14 Capitalization 30

Use of Proceeds

Use of Proceeds 32 Market for our Common Stock 33 Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Our Business 6 1 Management and Board of Directors 71 Executive and Director Compensation 77

Security Ownership of Certain Beneficial

Security Ownership of Certain Beneficial 81 Certain Relationships and Related Party Transactions 85

Description of Capital Stock

Description of Capital Stock 86 Plan of Distribution 93 Legal Matters 96 Experts 96 Where You Can Find More Information 96 Index to Financial Statement F-1 We and the Placement Agent have not authorized anyone to provide you with any information or to make any representations other than those contained in this prospectus. We do not take responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities offered hereby and only under circumstances and in jurisdictions where it is lawful to do so. No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus. This prospectus is not an offer to sell securities, and it is not soliciting an offer to buy securities, in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus is accurate only as of the date on the front of this prospectus only, regardless of the time of delivery of this prospectus or any sale of a security. Our business, financial condition, results of operations and prospects may have changed since those dates. i PROSPECTUS SUMMARY This summary highlights information contained in more detail elsewhere in this prospectus. This summary does not contain all of the information you should consider before investing in our Class A common stock. You should carefully read this prospectus in its entirety before investing in our Class A common stock, including the sections titled "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Statement Regarding Forward-Looking Statements," and our consolidated

financial statements and the accompanying notes thereto included elsewhere in this prospectus

financial statements and the accompanying notes thereto included elsewhere in this prospectus. Unless the context requires otherwise, references to "Inspire Veterinary," the "Company," "we," "us," and "our," refer to Inspire Veterinary Partners, Inc. and its consolidated subsidiaries. On April 22, 2024, we amended our Amended and Restated Articles of Incorporation to effect a reverse stock split of our authorized and issued and outstanding shares of Class A common stock by a ratio of 1-for-100 (the "Reverse Stock Split"). The Reverse Stock Split was effected on May 8, 2024. Unless expressly Stock Split. About Inspire Veterinary Partners Inspire Veterinary owns and operates veterinary hospitals throughout the United States. The Company specializes in small animal general practice hospitals which serve all manner of companion pets, emphasizing canine and feline breeds and including equine care. As the Company expands, it expects to acquire additional veterinary hospitals, including general practice, mixed animal facilities, and critical and emergency care. The Company completed its initial public offering on August 31, 2023 and its shares of Class A common stock are quoted on The Nasdaq Capital Market under the symbol "IVP." As of the date of this prospectus, the Company currently has fourteen veterinary hospitals located in ten states. Inspire Veterinary has expanded and plans to further expand through acquisitions of existing hospitals which have the financial track record, marketplace advantages and future growth potential. Because the Company leverages a leadership and support structure which is distributed throughout the United States, acquisitions are not centralized to one geographic area. Services provided at the Company's hospitals include preventive care for companion animals consisting of annual health exams which

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View this S-1/A filing on SEC EDGAR