Current Report Filing (8-k)
September 26 2022 - 05:01PM
Edgar (US Regulatory)
0001729944 false 0001729944 2022-09-21
2022-09-21 0001729944 IMAC:CommonStockParValue0.001PerShareMember
2022-09-21 2022-09-21 0001729944
IMAC:WarrantsToPurchaseCommonStockMember 2022-09-21 2022-09-21
iso4217:USD xbrli:shares iso4217:USD xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of Report (Date of earliest event reported):
September 21, 2022
IMAC Holdings, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-38797 |
|
83-0784691 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
incorporation) |
|
File
Number) |
|
Identification
No.) |
1605 Westgate Circle,
Brentwood,
Tennessee |
|
37027 |
(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 (see General Instruction A.2.
below):
|
☐ |
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 |
|
Name
of Each Exchange on Which Registered |
Common Stock, par value $0.001 per share |
|
BACK |
|
NASDAQ Capital Market |
Warrants to Purchase Common Stock |
|
IMACW |
|
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 (§230.405 of
this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
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.
CURRENT
REPORT ON FORM 8-K
IMAC
Holdings, Inc. (the “Company”)
September
21, 2022
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing
Rule or Standard; Transfer of Listing.
On
September 21, 2022, the Company received a letter (the “Notice”)
from The Nasdaq Stock Market notifying the Company that, because
the closing bid price for its common stock has been below $1.00 per
share for 30 consecutive business days, it no longer complies with
the minimum bid price requirement for continued listing on The
Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires
listed securities to maintain a minimum bid price of $1.00 per
share (the “Minimum Bid Price Requirement”), and Nasdaq Listing
Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid
Price Requirement exists if the deficiency continues for a period
of 30 consecutive business days.
The
Notice has no immediate effect on the listing of the Company’s
common stock on The Nasdaq Capital Market. Pursuant to Nasdaq
Listing Rule 5810(c)(3)(A), the Company has been provided an
initial compliance period of 180 calendar days, or until March 20,
2023 to regain compliance with the Minimum Bid Price Requirement.
During the compliance period, the Company’s shares of common stock
will continue to be listed and traded on The Nasdaq Capital Market.
To regain compliance, the closing bid price of the Company’s common
stock must meet or exceed $1.00 per share for a minimum of ten
consecutive business days during the 180 calendar day grace
period.
In
the event the Company is not in compliance with the Minimum Bid
Price Requirement by March 20, 2023, the Company may be afforded a
second 180 calendar day grace period. To qualify, the Company would
be required to meet the continued listing requirements for market
value of publicly held shares and all other initial listing
standards for The Nasdaq Capital Market, with the exception of the
Minimum Bid Price Requirement. In addition, the Company would be
required to provide written notice of its intention to cure the
minimum bid price deficiency during this second 180-day compliance
period by effecting a reverse stock split, if necessary.
The
Company intends to actively monitor the bid price for its common
stock between now and March 20, 2023 and will consider available
options to regain compliance with the Minimum Bid Price
Requirement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
September
26, 2022 |
IMAC
HOLDINGS, INC. |
|
|
|
By: |
/s/
Jeffrey Ervin
|
|
Name: |
Jeffrey
Ervin |
|
Title: |
Chief
Executive Officer |
IMAC (NASDAQ:IMAC)
Historical Stock Chart
From Dec 2022 to Jan 2023
IMAC (NASDAQ:IMAC)
Historical Stock Chart
From Jan 2022 to Jan 2023