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CST: 11/12/2019 23:17:30   

IMAC Holdings Prices 850,000 Unit Firm Commitment Initial Public Offering

301 Days ago

Brentwood, Tenn., Feb. 13, 2019 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC), a provider of regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, announced today the pricing of its firm commitment underwritten initial public offering of 850,000 units, with each unit consisting one share of common stock and two warrants each to purchase one share of common stock, at a combined initial public offering price of $5.125 per unit. The exercise price of the warrants is $5.00 per warrant.  The units will immediately and automatically separate upon issuance, and the common stock and warrants will begin trading today on The NASDAQ Capital Market under the ticker symbols “IMAC” and “IMACW,” respectively. The offering is expected to close on February 15, 2019, subject to customary closing conditions.

The Company expects to receive aggregate gross proceeds of $4,356,250 from this offering, before deducting underwriting discounts, commissions and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 127,500 shares of common stock and 255,000 warrants at the public offering price, less underwriting discounts and commissions.

Proceeds from the offering will be used for financing the costs of leasing, developing and acquiring new clinic locations, funding research and new product development activities, and for working capital and general corporate purposes.

Dawson James Securities, Inc. acted as the book running manager and Axiom Capital Management, Inc. acted as a co-manager for the offering.

A registration statement on Form S-1 relating to this offering was filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on February 12, 2019. The offering and sale of these securities may be made only by means of a prospectus. The registration statement on Form S-1 and the final prospectus relating to this offering are available on the SEC’s website at www.sec.gov. Copies of the final prospectus relating to this offering may be obtained from Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th Floor, Boca Raton, FL 33432, or from mmaclaren@dawsonjames.com, or by calling toll free at 866.928.0928.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About IMAC Holdings, Inc.

IMAC Holdings was created in March 2015 to expand on the footprint of the original IMAC Regeneration Center, which opened in Kentucky in August 2000. IMAC Regeneration Centers combine life science advancements with traditional medical care for movement restricting diseases and conditions.  It owns or manages outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes, opening two Ozzie Smith IMAC Regeneration Centers, two David Price IMAC Regeneration Centers, and a Tony Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries without surgery or opioids.

Safe Harbor Statement
This press release contains forward-looking statements. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC's expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements, and its ability to protect its intellectual property. IMAC encourages you to review other factors that may affect its future results in its registration statement and in its other filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur.

More information about IMAC Holdings, Inc. is available at www.imacregeneration.com

IMAC Press Contact:
Laura Fristoe, lfristoe@imacrc.com

LHA Investor Relations
Kim Sutton Golodetz
(212) 838-3777

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