Ontrak, Inc. Announces Closing of $6.3 Million Public Offering, $11 Million Concurrent Private Placement and $16.3 Million Conversion of Secured Notes - Seite 2

The gross proceeds to the Company from the public offering were approximately $6.3 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds of the offering for working capital and other general corporate purposes. In addition, the private placement resulted in the cancellation of $5.0 million of debt owed by the Company to Acuitas under outstanding senior secured convertible notes and the reclassification of $6.0 million of restricted cash held under the terms of the Master Note Purchase Agreement previously entered into with Acuitas to unrestricted cash.

Roth Capital Partners acted as the exclusive placement agent for the offering.

The registration statement on Form S-1 (File No. 333-273029) relating to the securities being sold in the public offering was originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 29, 2023 and was declared effective on November 9, 2023. The offering was made only by means of a prospectus that forms a part of the registration statement. The final prospectus related to the offering is available on the SEC’s website at https://www.sec.gov/ and may be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660, or by phone at [phone] or e-mail at [e-mail].

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.

About Ontrak, Inc.

Ontrak, Inc. is a leading AI and telehealth-enabled healthcare company, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak identifies, engages, activates, and provides care pathways to treatment for the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. We engage individuals with anxiety, depression, substance use disorder and chronic disease through personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company’s integrated intervention platform uses AI, predictive analytics and digital interfaces combined with dozens of care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors.