IMAC Holdings Announces Pricing of its Public Offering of Common Stock

Brentwood, Tenn, March 23, 2021 (GLOBE NEWSWIRE) — IMAC Holdings, Inc. (the “Company” or “IMAC”) (Nasdaq: IMAC, IMACW), a provider of innovative medical advancements and care specializing in regenerative and rehabilitation orthopedic treatments without the use of surgery or opioids, announced today the pricing of its underwritten registered public offering of 10,625,000 shares of its common stock at a public offering price of $1.60 per share, for total gross proceeds of $17.0 million. The net proceeds, after underwriting discounts, but before estimated expenses of the offering payable by IMAC, are expected to be approximately $16.0 million. All shares of common stock to be sold in the offering will be sold by the Company, except that the Company, together with its co-founder and chief operating officer as a selling stockholder, will grant the underwriter for the offering a 45-day option to purchase up to 15% of the shares of common stock in the offering. The offering is expected to close on or about March 26, 2021, subject to the satisfaction of customary closing conditions.

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

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

The offering is being made pursuant to a registration statement on Form S-1 (No. 333-254183) filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 11, 2021, which became effective on March 23, 2021. When available, copies of the final prospectus relating to this offering can be obtained at the SEC’s website at www.sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at syndicate@kingswoodcm.com or telephone at (212) 404-7002.

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.

About IMAC Holdings, Inc.

IMAC 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 more than 15 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes including Ozzie Smith, David Price, Mike Ditka and Tony Delk. IMAC’s outpatient medical clinics emphasize 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.

# # #

Safe Harbor Statement

This press release contains forward-looking statements. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC’s expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to grow its business nationwide, its ability to enhance its brand to consumers, its development and introduction of new healthcare products and services, its successful integration of acquired chiropractic and other companies, technologies and assets, its ongoing marketing and other business development initiatives, competition in the rehabilitation and regenerative industry, new and changing healthcare government regulation, its ability to protect its intellectual property, and its ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements. IMAC encourages you to review other factors that may affect its future results in the public filings that it makes with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur.

IMAC Press Contact:
Laura Fristoe
lfristoe@imacrc.com

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