Item 3.01. Notice of Delisting or Failure To Satisfy a Continued Listing Rule
or Standard; Transfer of Listing.
On October 13, 2020, IMAC Holdings, Inc. ("we", "us" or "our") received written
notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC
("Nasdaq") notifying us that, for a period of 30 consecutive business days, the
bid price of our common stock closed below the minimum of $1.00 per share
required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq
Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A),
we have 180 calendar days, or until April 12, 2021, to regain compliance with
the minimum bid price requirement pursuant to Nasdaq Listing Rule 5550(a)(2).
If, at any time during the 180-day grace period, the closing bid price of our
common stock is at least $1.00 per share for a minimum of 10 consecutive
business days, we will have regained compliance and Nasdaq will provide us with
written confirmation of such.
If we fail to regain compliance before April 12, 2021, but meet the continued
listing requirement for market value of publicly-held shares and all other
initial listing standards for the Nasdaq Capital Market, we may be eligible for
additional time to regain compliance with the minimum bid price requirement.
Our common stock will continue to be listed and traded on the Nasdaq Capital
Market during the 180-day grace period, subject to our compliance with the other
continued listing requirements of the Nasdaq Capital Market.
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