FRANKLIN, TN, Nov. 22, 2024 (GLOBE NEWSWIRE) — IMAC Holdings, Inc. (IMAC or the Firm) (NASDAQ: BACK) at the moment introduced that it obtained an anticipated deficiency notification letter from the Itemizing {Qualifications} Workers of The Nasdaq Inventory Market LLC (Nasdaq) on November 22, 2024 (the Discover). The Discover indicated that the Firm was not in compliance with Nasdaq Itemizing Rule 5250(c)(1) (the Itemizing Rule) on account of its failure to well timed file its Quarterly Report on Kind 10-Q for the interval ended September 30, 2024 (the Kind 10-Q), as described extra totally within the Firm’s Kind 12b-25 Notification of Late Submitting (the Kind 12b-25) filed with the Securities and Change Fee (the SEC) on November 15, 2024. The Itemizing Rule requires Nasdaq-listed firms to well timed file all required periodic stories with the SEC.
The Firm continues to work diligently to file the Kind 10-Q as quickly as practicable.
The Discover has no instant impact on the itemizing or buying and selling of the Firm’s frequent inventory on the Nasdaq Capital Market.
The Firm has till January 21, 2024, to submit a plan to regain compliance with the Itemizing Rule (the Plan). Pursuant to the Discover, if Nasdaq accepts the Plan, Nasdaq has the discretion to grant the Firm an exception of as much as 180 calendar days from the due date of the Kind 10-Q, or till Might 19, 2025, to regain compliance with the Itemizing Rule. The Firm intends to take the required steps to regain compliance with Nasdaq’s itemizing guidelines as quickly as practicable.
Whereas the Firm can present no assurances as to timing, the Firm intends to take motion to submit a plan to regain compliance inside the 60 calendar day submission interval, and, if Nasdaq accepts the plan to regain compliance, to subsequently regain compliance inside the prolonged time granted by Nasdaq. Whereas the Firm is exercising diligent efforts to take care of the itemizing of its securities on the Nasdaq Capital Market, there will be no assurance that the Firm will have the ability to regain compliance inside the relevant time interval. As well as, if the Firm doesn’t regain compliance inside the relevant time interval, Nasdaq may present discover that the Firm’s securities will change into topic to delisting. If the Firm receives discover that its securities are being delisted, Nasdaq guidelines allow the Firm to attraction any delisting dedication by Nasdaq workers to a hearings panel.
About IMAC Holdings, Inc.
IMAC Holdings, Inc. is headquartered in Franklin, Tennessee. We function our proteomic enterprise via our nationally CLIA-certified, CAP-accredited and NY CLEP licensed laboratory in Golden, Colorado.
Protected Harbor Assertion
This doc and the reveals include forward-looking statements inside the which means of Part 21E of the Change Act of 1934, as amended, that are made pursuant to the protected harbor provisions of the Securities Litigation Reform Act of 1995, together with, however not restricted to, statements relating to the timing and expectations relating to the Firm’s submitting of the Kind 10-Q, statements regarding the Firm’s plan to regain compliance with Nasdaq’s itemizing guidelines, in addition to all statements that aren’t historic information. These forward-looking statements are topic to alter, and precise outcomes could materially differ from these set forth on this Present Report as a result of sure dangers and uncertainties. Components that would trigger or contribute to modifications in such forward-looking statements embrace, however aren’t restricted to, the danger that the completion and submitting of the Kind 10-Q will take longer than anticipated; uncertainties concerning the timing of the Firm’s submission of a compliance plan; Nasdaq’s acceptance of any such plan; the period of any extension which may be granted by Nasdaq; and the danger that the Firm shall be unable to satisfy Nasdaq’s continued itemizing necessities. The foregoing evaluate of essential components shouldn’t be construed as exhaustive and must be learn along side the opposite cautionary statements set forth in stories filed with the SEC, together with the Firm’s present stories on Kind 8-Ok, quarterly stories on Kind 10-Q and its annual report on Kind 10-Ok/A, similar to statements relating to modifications in financial situations and the impression of competitors. Undue reliance shouldn’t be positioned on any forward-looking assertion contained herein. These statements mirror the Firm’s place as of the date of this Present Report. The Firm expressly disclaims any endeavor to launch publicly any updates or revisions to any statements to mirror any change within the Firm’s expectations or any change of occasions, situations, or circumstances on which any such assertion relies.
For extra info, please contact:
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