secwatch.observer — SEC 8-K summary
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Issuer:     Ontrak, Inc. (—)
CIK:        0001136174
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0001628280-23-004548
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 3.02, 5.07, 5.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ontrak stockholders approve reverse split and Keep Well deal; Acuitas Capital gains ~83% control
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- Stockholders approved reverse stock split (4:1 to 6:1) and Keep Well Proposal for $10M additional funding from Acuitas Capital.
- Acuitas Capital's beneficial ownership rises to ~83% after issuance of 2,038,133 shares, exchange warrants, and convertible notes.
- New Keep Well Notes convertible at $0.40/share; warrants exercisable at $0.45; potential issuance of up to 200M+ shares if fully converted/exercised.
- Company entered into Stockholders Agreement requiring at least three independent directors and approval of related-party transactions by independent directors.
- Charter amendment filed to remove Article EIGHTH (tax loss carryover restrictions) effective Feb 21, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1136174/000162828023004548/0001628280-23-004548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1136174/000162828023004548/cats-20230220.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-004548

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