IMAC Regeneration Centers Sells Lexington Property for $1.3M in Sale-Leaseback Transaction
IMAC Holdings, Inc. (IMAC)
Last imac holdings, inc. earnings: 11/14 09:00 am
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Source: GlobeNewswire
BRENTWOOD, Tenn., July 27, 2020 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (the “Company” or “IMAC”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today announced it sold real estate in Lexington, Kentucky, on July 24, 2020, in a sale-leaseback transaction for a sale price of $1,300,000. The sale of the property will eliminate $1,232,000 in liability for the Company. Simultaneous with the sale, the Company also entered into a five-year lease of the property with the purchaser of the property. “IMAC is constantly striving to maximize shareholder value and the debt on the property was not optimal for the Company at this time. Any debt IMAC incurs in the near future should go towards productive assets,” stated Jeffrey Ervin, Chief Executive Officer of IMAC. “We are pleased that we are able to maintain our beautiful Lexington location while eliminating ov
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