IMAC Holdings Inc. has entered into a new financing agreement, issuing a promissory note to a lender on June 3, 2025. The note involves an aggregate principal amount of $455,000, with the lender purchasing it for $325,000. This unsecured note is set to mature on December 24, 2025, and allows IMAC Holdings to prepay any portion of the outstanding principal without incurring penalties. The agreement includes standard representations, warranties, and covenants, with specific events of default outlined, such as bankruptcy or insolvency issues, which could trigger the principal to become immediately due. This transaction is part of IMAC Holdings' ongoing financial management strategy.
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