tw0122
4 months ago
OTRK 2.56 +β40% still holding low floater 2m
10:51 AM EDT, 09/19/2024 (MT Newswires) -- Ontrak (OTRK) said Thursday it will effect a 1-for-15 reverse split of its common shares, with a view to increasing the stock's value to regain compliance with the Nasdaq Capital Market's $1 minimum bid price requirement for continued listing.
The company expects the shares to start trading on a split-adjusted basis Monday.
Ontrak said the split will reduce the number of its common shares to about 3.2 million from 48 million.
The company's shares were down 4.2% in recent trading.
Price: 0.21, Change: -0.01, Percent Change: -4.24