Jeffrey Busch - Sep 19, 2024 Form 3 Insider Report for IMAC Holdings, Inc. (BACK)

Role: Director
Signature: /s/ Jeffrey Busch
Stock symbol: BACK
Transactions as of: Sep 19, 2024
Transactions value $: $0
Form type: 3
Date filed: 10/7/2024, 04:39 PM
Previous filing: Feb 23, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BACK	Series C-1 Convertible Preferred Stock							Sep 19, 2024	Common Stock	108K	$2.56	Direct	F1, F2, F3, F4
holding	BACK	Series E Convertible Preferred Stock							Sep 19, 2024	Common Stock	456K	$3.64	Direct	F4, F5, F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares of Series C-1 Preferred Convertible Preferred Stock, par value $0.001 per share (the "Series C-1 Preferred Stock") are immediately convertible into shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock").
F2	The Series C-1 Preferred Stock is perpetual and therefore has no expiration.
F3	The Reporting Person owns 265 shares of Series C-1 Preferred Stock, which shares are currently convertible into 108,420 shares of Common Stock. However, the Series C-1 Preferred Stock is subject to a beneficial ownership cap that prohibits the conversion of the Series C-1 Preferred Stock into shares of Common Stock to the extent that such conversion would cause the reporting person's beneficial ownership, together with its affiliates, to exceed 9.99%.
F4	The conversion price is subject to adjustment from time to time.
F5	The shares of Series E Preferred Convertible Preferred Stock, par value $0.001 per share (the "Series E Preferred Stock") are immediately convertible into shares of the Common Stock.
F6	The Series E Preferred Stock is perpetual and therefore has no expiration.
F7	The Reporting Person owns 1,641 shares of Series E Preferred Stock, which shares are currently convertible into 456,335 shares of Common Stock. However, the Series E Preferred Stock is subject to a beneficial ownership cap that prohibits the conversion of the Series E Preferred Stock into shares of Common Stock to the extent that such conversion would cause the reporting person's beneficial ownership, together with its affiliates, to exceed 9.99%.