Ontrak fails to regain compliance for 9.5% preferreds; stock to be delisted

By Mary-Katherine Stinson

Lexington, Ky., Oct. 16 – Ontrak, Inc. failed to regain compliance with the minimum bid price requirement for its 9.5% series A cumulative perpetual preferred stock during the 180-calendar-day compliance period, which expired on Oct. 10, according to a press release.

On Oct. 11, the company was notified that it is ineligible for a second 180-day compliance period.

The minimum closing bid price needed to be at least $1.00 per share for a minimum of 10 consecutive business days to regain compliance.

The stock is scheduled for delisting from the Nasdaq capital market and will be suspended at the opening of business on Oct. 20.

As previously reported, the company received similar letters in April and December 2022.

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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