IMAC Holdings, Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

IMAC Holdings has successfully regained compliance with Nasdaq’s minimum bid price requirement, as announced on November 30, 2020. Previously, the company faced non-compliance due to its stock closing below $1.00 for over 30 consecutive business days before October 13, 2020. With the matter now resolved, IMAC can continue its listing on the Nasdaq Capital Market. Founded in 2015, IMAC specializes in regenerative orthopedic treatments without surgery or opioids and operates multiple outpatient clinics for sports and orthopedic injuries.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Continued listing on the Nasdaq Capital Market secured.

Negative

• Stock price was below the required minimum for 30 consecutive days prior to October 13, 2020.

BRENTWOOD, Tenn, Nov. 30, 2020 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or “the Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today announces that it has received a letter from The Nasdaq Stock Market LLC ("Nasdaq") that IMAC has regained compliance with Nasdaq's minimum bid price for continued listing on the Nasdaq Capital Market set forth in Nasdaq Listing Rule 5550(a)(2).

As previously reported, the Company was not in compliance with the minimum bid price requirement because the closing bid price for its common stock was less than $1.00 for the 30 consecutive business days preceding October 13, 2020. That matter is now closed.

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. IMAC owns or manages 15 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes, opening six Ozzie Smith IMAC Regeneration Centers, two David Price IMAC Regeneration Centers, as well as Mike Ditka IMAC Regeneration Centers and a Tony Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries and movement-restricting diseases without surgery or opioids. More information about IMAC Holdings, Inc. is available at www.imacregeneration.com.

IMAC Press Contact:
Laura Fristoe
lfristoe@imacrc.com

Investor Relations:
Bret Shapiro
(516) 222-2560
brets@coreir.com

FAQ

What is the significance of IMAC regaining compliance with Nasdaq?

It allows IMAC to maintain its listing on the Nasdaq Capital Market, which is crucial for shareholder confidence and market visibility.

What caused IMAC to be non-compliant with Nasdaq's minimum bid price?

IMAC's stock price had been below $1.00 for 30 consecutive business days leading up to October 13, 2020.

When was IMAC's compliance issue resolved?

The issue was resolved with the announcement made on November 30, 2020.

What type of treatments does IMAC provide?

IMAC specializes in regenerative orthopedic treatments that do not involve surgery or opioids.