Ontrak announces 1-for-15 reverse split effective September 23

Ontrak y announced that it will implement a 1-for-15 reverse split of the issued shares of its common stock, effective at 12:01 a.m. Eastern Time on September 23, 2024. The Company’s common stock is expected to begin trading on a split-adjusted basis when the market opens on September 23 and will continue to trade on The Nasdaq Capital Market under the symbol “OTRK.” The new CUSIP number for the common stock will be 683373 401. The reverse stock split is intended to increase the bid price of the common stock to enable the Company to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market. The Company’s stockholders authorized the reverse stock split at the Company’s annual meeting of stockholders held on September 10.