IMAC Holdings Receives Deficiency Notification Letter from Nasdaq
Franklin, TN, Nov. 22, 2024 (GLOBE NEWSWIRE) —
IMAC Holdings, Inc. (“IMAC” or the “Company”) (NASDAQ: BACK) today announced that it received an expected deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) on November 22, 2024 (the “Notice”). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of its failure to timely file its Quarterly Report on Form 10-Q for the period ended September 30, 2024 (the “Form 10-Q”), as described more fully in the Company’s Form 12b-25 Notification of Late Filing (the “Form 12b-25”) filed with the Securities and Exchange Commission (the “SEC”) on November 15, 2024. The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC.
Impact on the Company
Receiving a deficiency notification letter from Nasdaq can have serious implications for IMAC Holdings. This could potentially lead to the Company being delisted from the stock exchange, which would greatly affect its ability to raise capital and attract investors. In addition, a delisting could damage the Company’s reputation and credibility in the financial markets, making it more difficult to conduct business effectively.
Impact on Investors
For investors in IMAC Holdings, the receipt of a deficiency notification letter may cause concern and uncertainty about the future prospects of the Company. Stock prices could be negatively impacted, leading to potential losses for shareholders. It is important for investors to closely monitor the situation and consider their options moving forward.
Conclusion
Overall, the deficiency notification letter from Nasdaq is a significant development for IMAC Holdings. The Company will need to take prompt action to address the issues raised and ensure compliance with listing requirements. Investors should stay informed and cautious in their decision-making process during this time of uncertainty.
How will this affect me?
As an individual investor, the news of IMAC Holdings receiving a deficiency notification letter from Nasdaq may impact your investment decision. It is important to assess the situation carefully and consider the potential risks involved in holding or selling your shares in the Company. Seeking advice from a financial advisor may be beneficial in navigating through this challenging time.
How will this affect the world?
While the impact of IMAC Holdings’ deficiency notification may seem localized to the Company and its stakeholders, the broader implications could be felt in the financial markets. This event serves as a reminder of the importance of regulatory compliance and transparency in corporate governance. It highlights the risks associated with investing in publicly traded companies and the potential consequences of non-compliance with listing requirements.
