Ontrak (OTRK) Prices 5M Share Offering at $0.80/sh

Ontrak, Inc. (NASDAQ: OTRK) announced today that it has entered into a securities purchase agreement with institutional investors for the purchase and sale of shares of its common stock at a purchase price of $0.80 per share in a registered direct offering. The per share purchase price is at-the-market in accordance with Nasdaq rules.

Roth Capital Partners is acting as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company is expected to be approximately $4.0 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital or to pay down outstanding debt.

The offering is expected to close on or about August 4, 2022, subject to the satisfaction of customary closing conditions.

The shares of common stock are being offered by Ontrak pursuant to a “shelf” registration statement on Form S-3 (File No. 333-259329) previously filed with the U.S. Securities and Exchange Commission (“SEC”) on September 3, 2021, and declared effective by the SEC on September 16, 2021. Such securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from Roth Capital Partners, LLC, 57 W. 57th St., 18th Floor, New York, NY 10019, by email at [email protected] or by phone at 949-720-5700.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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