Ontrak secures up to $8.45M convertible notes; Acuitas owns 52% after warrant exercise

Ontrak, Inc.

Acuitas commits to $8.45M in senior secured convertible notes at conversion price floor $0.3242, cap $0.9726; 200% warrant coverage.
Humanitario Capital exercised 500,000 pre-funded warrants, giving Acuitas 52% common stock ownership (98% beneficial).
Public offering warrant holders agreed to reduce exercise price to $0.9726 with further adjustments based on future conversions.
Company to seek stockholder approval for note issuance and conversion; Acuitas may reduce commitment if equity proceeds received.
No demand payments due until September 1, 2026 or 30 days after full $8.45M purchase; May 2025 agreement terminated.

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