Jorge Ruiz, a significant shareholder of IMAC Holdings, Inc. (NASDAQ:BACK), recently acquired additional shares in the company. According to a recent SEC filing, Ruiz purchased one share of common stock at a price of $2.69, totaling a transaction value of $2. This acquisition brings Ruiz’s total holdings to 141,230 shares. The transaction was reported on April 5, 2024, and filed with the SEC on March 18, 2025. The stock currently trades at $0.43, near its 52-week low of $0.39, having declined nearly 70% over the past year. InvestingPro analysis indicates the stock is currently undervalued, though the company’s overall financial health score remains weak. InvestingPro subscribers have access to 15 additional key insights about BACK’s valuation and performance metrics.
In other recent news, IMAC Holdings, Inc. has filed a definitive proxy statement with the SEC, seeking stockholder approval for several proposals, including the potential issuance of common stock exceeding 19.99% of the current outstanding shares. This move is connected to its Series G Preferred Stock and related warrants. Additionally, the company has addressed compliance issues with Nasdaq, having recently regained compliance with audit committee requirements after appointing Jeffrey Busch to its committee. However, IMAC Holdings is facing a potential delisting from the Nasdaq Capital Market due to not meeting the minimum stockholders’ equity requirement of $2.5 million. The company has appealed this delisting notice, with a hearing scheduled, allowing its stock to continue trading during the appeal process. Previously, IMAC Holdings resolved a compliance issue related to periodic reporting by filing its delayed quarterly report for the period ending September 30, 2024. These developments highlight IMAC Holdings’ ongoing efforts to align with Nasdaq’s regulatory standards while seeking shareholder support for strategic initiatives.
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