IMAC Holdings, Inc. Regains Compliance with Nasdaq Listing Rules

IMAC Holdings, Inc. (NASDAQ: IMAC) recently announced that it has successfully regained compliance with the Nasdaq Listing Rules. The company received written notice from The Nasdaq Stock Market on November 21, 2024, indicating a non-compliance issue with Nasdaq Listing Rule 5605 (the “Audit Committee Listing Rule”), which mandates companies with securities listed on the Nasdaq Capital Market to have an audit committee consisting of a minimum of three members.

To rectify this non-compliance, Jeffrey Busch was appointed to the Audit Committee by December 11, 2024. Subsequently, on December 17, 2024, the Company was notified by Nasdaq that it has achieved compliance with the Audit Committee Listing Rule.

Moreover, IMAC Holdings had previously encountered another non-compliance issue on August 21, 2024. The company received a notice from Nasdaq regarding a violation of Nasdaq Listing Rule 5250(c)(1) (the “Periodic Reporting Listing Rule”), demanding companies with securities listed on the Nasdaq Capital Market to timely file all required periodic reports with the U.S. Securities and Exchange Commission (SEC).

This violation arose from the delayed filing of the Quarterly Report on Form 10-Q for the quarter ending on June 30, 2024. IMAC Holdings successfully filed the Form 10-Q on December 18, 2024. The company also intends to promptly file the Quarterly Report on Form 10-Q for the quarter ending on September 30, 2024, with the belief that it will regain compliance with the Periodic Reporting Listing Rule upon completion.

In light of these developments, IMAC Holdings, Inc. has indicated a commitment to meeting its regulatory obligations and maintaining compliance with the necessary Nasdaq Listing Rules.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read IMAC’s 8K filing here.

About IMAC

IMAC Holdings, Inc owns, manages, and subleases a chain of innovative medical advancements and care regeneration centers in the United States. The company's outpatient medical clinics provide regenerative, orthopedic, and minimally invasive procedures and therapies to patients with sports injuries, ligament and tendon damage, and other related soft tissue conditions, as well as back, knee, and joint pains.