UPDATE–Ontrak has announced they are selling 1.73 million shares in this follow on offering. They will also have 259,500 shares available for overe allotment. The offering price is $24.75. The pricing term sheet can be found here.
Ontrak (OTRK) has announced a reopening of their 9.50% cumulative preferred stock which originally was issued in August.
Pricing and the number of shares to be sold have not been announced, but I assume it will be in the $25 area.
This is a relatively young company and just taking a quick peek at their financials their revenue growth has really ramped up—of course no income at this stage.
Current outstanding shares are trading at $24.72 right now after being as high as $25.50 in the last few days preannouncement.