09:04 AM EDT, 06/27/2025 (MT Newswires) -- Ontrak ( OTRK ) said Friday it priced a $4 million public offering of about 6.7 million shares or pre-funded warrants and 26.7 million warrants at $0.60 each.

The company said each share or pre-funded warrant comes with four warrants to purchase stock at $0.60 per share. The warrants will become exercisable if shareholders approve the terms, and would expire five years after approval, Ontrak ( OTRK ) said.

The offering is expected to close around June 30, the company said.

Acuitas Group and Acuitas Capital, which will control a majority stake before the offering closes, have agreed to vote in favor of making the warrants exercisable, according to Ontrak ( OTRK )

The company said it plans to use the funds for working capital and general purposes.

Shares of the company were down more than 54% in recent Friday premarket activity.