IMAC Holdings Inc.
04/16/2025 | Press release | Distributed by Public on 04/16/2025 04:01
Financial Obligation (Form 8-K)
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
On April 14, 2025, IMAC Holdings, Inc. (the "Company") issued promissory notes (the "Notes") to certain lenders (the "Lenders") in the aggregate principal amount of $37,088.88, for an aggregate purchase price from the Lenders of $26,492.
The Notes are unsecured and mature on December 24, 2025. The Company may prepay any portion of the outstanding principal at any time without penalty.
The Notes includes customary representations, warranties and covenants and sets forth certain events of default after which the outstanding principal may be declared immediately due and payable, including certain types of bankruptcy or insolvency events of default involving the Company.
The foregoing description of the Notes is not complete and is qualified in its entirety by reference to the full text of the Notes, a copy of the form of which was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on April 3, 2025 and is incorporated herein by reference.