IMAC Holdings Announces Full Exercise of Over-Allotment Option of its Public Offering

BRENTWOOD, Tenn. (April 8, 2021)—IMAC Holdings, Inc., a provider of innovative medical advancements and care specializing in regenerative and rehabilitation orthopedic treatments without the use of surgery or opioids, announced that it closed the sale of an additional 1,593,750 shares of common stock at the recent public offering price of $1.60 per share, pursuant to the 15% over-allotment option exercised in full by the underwriters in connection with its public offering that closed on March 26, 2021.

The full exercise of the over-allotment option brings the total number of shares sold by IMAC in its underwritten public offering to 11,818,750 shares and the aggregate gross proceeds received by IMAC to $18,910,000 prior to deducting the underwriting discount and other offering expenses and after deducting the proceeds from the sale of 400,000 shares by IMAC’s co-founder and chief operating officer in the over-allotment closing.

IMAC intends to use the net proceeds from the offering to finance acquisitions of medical clinics, repay outstanding promissory notes, fund the launch of retail health care clinics and further develop potential new treatments, and for working capital and general corporate purposes.

Kingswood Capital Markets, division of Benchmark Investments, Inc. acted as sole bookrunning manager for the offering.

A final prospectus relating to the offering was filed with the Securities and Exchange Commission on March 24, 2021, and is available on the SEC’s website at sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., Attention: Syndicate Department, 17 Battery Place, Suite 625, New York, New York 10004, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at [email protected].

This press release does not constitute an offer to sell or solicitation of an offer to buy any securities in the offering. Nor shall there be any sale of these securities in any state or jurisdiction in which such offering, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Visit imacregeneration.com for more information.