OTRK - Ontrak announces 1-for-6 reverse stock split
2023-07-27 11:30:24 ET
- Ontrak ( NASDAQ: OTRK ) said Thursday it will effect a 1-for-6 reverse stock split , effective at 6 pm ET on July 27. Shares -7.4% in morning trade.
- The stock will trade on Nasdaq Capital Market on a post-split basis when trading opens on July 28.
- The reverse split is aimed at bringing Ontrak ( OTRK ) into compliance with Nasdaq's minimum bid price rule.
- However, there can be no assurance that Ontrak ( OTRK ) will regain compliance, or that it will be successful in maintaining compliance with any continued listing rules.
- Earlier, Ontrak ( OTRK ) CEO resigned after insider trading charges .
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Ontrak announces 1-for-6 reverse stock split