Ontrak (OTRK) Announces Follow-On Offering of Non-Convertible Perpetual Preferred Stock

Ontrak, Inc. (NASDAQ: OTRK, OTRKP) (“Ontrak” or the “Company”), a leading AI-powered and telehealth enabled, virtualized healthcare company, today announced that it has commenced an underwritten public offering of shares of its Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”) with a liquidation preference of $25.00 per share. B. Riley Securities, Ladenburg Thalmann and William Blair are acting as book-running managers for the offering. Aegis Capital Corp., The Benchmark Company, Incapital and Kingswood Capital Markets, division of Benchmark Investments, Inc., are acting as co-managers. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series A Preferred Stock initially sold to the public. The Series A Preferred Stock is listed on the Nasdaq Global Market under the symbol “OTRKP.”

The Company intends to use a portion of the net proceeds of the offering to fund a segregated dividend account for the payment of dividends on the Series A Preferred Stock through August 2022 and to use the remaining net proceeds for general corporate purposes, which may include working capital, M&A, and investments in technology.

The offering of the Series A Preferred Stock will be made under the Company’s existing effective shelf registration statement (File No. 333-248770), which was filed with the Securities and Exchange Commission (“SEC”). The offering will be made only by means of a prospectus supplement and prospectus, which will be filed with the SEC. Before you invest, you should read the applicable prospectus supplement and prospectus for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting the SEC website at www.sec.gov. Alternatively, you may obtain copies, when available, by contacting B. Riley Securities, Inc. at 299 Park Avenue, New York, New York 10171, by telephone at (703) 312-9580 or by email at [email protected].

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