IMAC Holdings, Inc.’s $4.3 Million Initial Public Offering

Olshan Frome Wolosky acted as counsel to IMAC Holdings, Inc. on the transaction

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.

Olshan Frome Wolosky acted as counsel to IMAC Holdings, Inc. with a team including Spencer Feldman (Picture) and Jason Cabico.

Involved fees earner: Jason Cabico – Olshan Frome Wolosky LLP; Spencer Feldman – Olshan Frome Wolosky LLP;

Law Firms: Olshan Frome Wolosky LLP;

Clients: IMAC Holdings Inc.;