Brief: IMAC Holdings - Theralink Will Merge With Newly-Formed Unit Of IMAC In A Stock-For-Stock Reverse Merger Transaction

Imac Holdings

23/05/2023 13:34

May 23 (Reuters) - IMAC Holdings Inc  BACK.O :
    * IMAC HOLDINGS - THERALINK WILL MERGE WITH NEWLY-FORMED
UNIT OF
IMAC IN A STOCK-FOR-STOCK REVERSE MERGER TRANSACTION
    * IMAC HOLDINGS INC- ALL CURRENT IMAC DIRECTORS BUT ONE WILL
RESIGN EFFECTIVE UPON CLOSING OF MERGER
    * IMAC HOLDINGS INC - THERALINK STAKEHOLDERS ARE EXPECTED TO
OWN
ABOUT 85% OF COMBINED CO
    * IMAC HOLDINGS INC- EXISTING DIRECTORS OF THERALINK SHALL
BE
APPOINTED TO BOARD OF IMAC, WITH JEFFREY BUSCH TO SERVE AS
CHAIRMAN
    * IMAC HOLDINGS INC - PRE-MERGER IMAC EQUITY HOLDERS ARE
EXPECTED
TO OWN ABOUT 15% OF COMBINED CO
    * IMAC HOLDINGS INC - MERGER IS EXPECTED TO CLOSE LATE IN Q3
OR
EARLY IN Q4 OF 2023

Source text for Eikon:  ID:nPn3hW8q4a 
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