Ontrak again non-compliant with minimum bid price of 9.5% preferreds

Chicago, April 14 – Ontrak, Inc. again received a letter from the Nasdaq Stock Market LLC indicating that the company no longer meets the minimum bid price requirement for its 9.5% series A cumulative perpetual preferred stock, according to a press release.

A similar letter was issued in December.

The closing price has been less than $1.00 for the previous 30 consecutive business days.

The company has a 180-calendar day grace period to regain compliance. The minimum closing bid price needs to be at least $1.00 per share for a minimum of 10 consecutive business days to regain compliance.

A possible 180-calendar day extension may be extended to Ontrak, should the company be eligible if it satisfies certain terms and conditions.

The series A preferred stock trades on Nasdaq Global Market under the symbol “OTRKP.”

The closing price on Friday was $0.58 per share.

After the letter in December, the price went above $1.00 per share in mid-January, peaking above $2.00 per share in late January. The share price has been in steady decline since early February.

Ontrak is a Henderson, Nev.-based medical technology company.

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