Ontrak ( (OTRK) ) has issued an update.
Ontrak, Inc. has announced a 1-for-15 reverse stock split, slated to be effective at the start of trading on September 23, 2024, in a bid to comply with Nasdaq’s minimum bid price requirement. This corporate maneuver will consolidate every 15 shares of its common stock into one share, potentially boosting stock value and affecting all shareholders equally without altering their percentage of ownership—except for minor changes due to fractional share adjustments. The total issued and outstanding shares of common stock will decrease from around 48 million to approximately 3.2 million. The reverse split will also entail adjustments to Ontrak’s outstanding stock options and warrants, aligning them with the new share structure.
For a thorough assessment of OTRK stock, go to TipRanks’ Stock Analysis page.
