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Dawson James Securities Announces the Closing of IMAC Holdings, Inc. NASDAQ Initial Public Offering at $5.125 per Unit

1235 Days ago

BOCA RATON, Fla., Feb. 15, 2019 (GLOBE NEWSWIRE) -- Dawson James Securities, Inc. in conjunction with IMAC Holdings, Inc. (Nasdaq: IMAC) announced today the closing of its firm commitment underwritten Initial Public Offering of 850,000 Units, with each unit consisting of one share of common stock and two warrants to purchase one share of common stock, at a combined price of $5.125 per unit.  The exercise price of the warrants is $5.00 per warrant and expire in February 2024.  The units separated immediately and trade under the respective NASDAQ ticker symbols of IMAC and IMACW.

In addition, the Company 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.   

The Company received gross proceeds of approximately $4.4 million from this offering and 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.    

A registration statement on Form S-1 relating to this offering was filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on February 12, 2019. The offering and sale of these securities may be made only by means of a prospectus. The registration statement on Form S-1 and the final prospectus relating to this offering are available on the SEC’s website at www.sec.gov. Copies of the final prospectus relating to this offering may be obtained from Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th Floor, Boca Raton, FL 33432, or from mmaclaren@dawsonjames.com, or by calling toll free at 866-928-0928.

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.  It owns or manages outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes, opening two Ozzie Smith IMAC Regeneration Centers, two David Price IMAC Regeneration Centers, and a Tony Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries without surgery or opioids.

About Dawson James Securities

Dawson James Securities specializes in capital raising for small and microcap public and private growth companies primarily in the Life Science/Health Care, Technology and Consumer sectors and is a full-service investment banking firm with research, institutional and retail sales, and execution trading and corporate services.  Headquartered in Boca Raton, FL, Dawson James is privately held with offices in New York, Maryland and New Jersey.  www.dawsonjames.com

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:  This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes”, “expects”, “anticipates” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.  

Member FINRA/SIPC.   For more information, please contact:

Elise Stern, Sr. Managing Director

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