Medical‑services and technology company IMAC Holdings, Inc. today reported that it entered into a secured financing agreement on November 14, 2025. Under the terms, the company issued a promissory note (the “Note”) for an aggregate principal amount of $210,000 in exchange for an aggregate purchase price of $150,000 from the lender.
The Note is secured, meaning it is backed by the company’s assets under a separate Guaranty, Security and Pledge Agreement and an Intellectual Property Security Agreement. It matures on February 13, 2026, and the company may prepay any portion of the outstanding principal at any time without penalty.
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Although the Note accrues no interest under ordinary conditions, if an Event of Default occurs it bears an interest rate of 14.0% per annum, calculated on a 365‑day year and actual days elapsed. Events of Default include the company failing to pay principal when due, insolvency or bankruptcy proceedings, breach of covenants or representations, or other material adverse events.
Among several negative covenants, the company agreed not to incur additional indebtedness or liens, not to make dividends or distributions outside the ordinary course, and not to effect certain corporate reorganizations or asset transfers without the lender’s consent until the Note is paid in full.
This arrangement creates a new direct financial obligation for IMAC Holdings. In broad terms, when a company issues debt – especially one secured by its assets – it can impact its flexibility, because it must abide by the covenants and repayment terms. For investors and other stakeholders, it may indicate the company is seeking immediate financing rather than raising equity, and it may reflect underlying liquidity needs or operational plans.
From an educational viewpoint, this financing highlights how companies can bridge short‑term funding gaps by issuing a promissory note and using their assets as collateral. The structure means the lender has rights to certain company assets if repayment obligations are not met. It also illustrates the trade‑off: obtaining funds quickly but accepting stricter restrictions and possible higher cost in default scenarios.
Company Profile
IMAC Holdings, Inc. operates in the specialty outpatient services industry (SIC 8093). Incorporated in Delaware, it previously operated under the name IMAC Holdings LLC before converting to a corporation in 2018. The company provides aesthetic and medical spa solutions and technology‑enabled services, generating revenue from offering non‑surgical treatments, device supplies, and service contracts.
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