Filing Details

Accession Number:
0001104659-25-054411
Form Type:
13D Filing
Publication Date:
2025-05-28 20:00:00
Filed By:
Acuitas Group Holdings, LLC
Company:
Ontrak Inc. (NASDAQ:OTRK)
Filing Date:
2025-05-29
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Acuitas Group Holdings, LLC 0 37,808,412 0 37,808,412 37,808,412 90.3%
Acuitas Capital LLC 0 14,777,790 0 14,777,790 14,777,790 77.8%
Humanitario Capital LLC 0 18,089,029 0 18,089,029 18,089,029 88.2%
Terren S. Peizer 55,897,441 0 55,897,441 0 55,897,441 96.1%
Filing





If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Checkbox not checked

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D



Comment for Type of Reporting Person:
Based on 41,894,127 Shares deemed outstanding pursuant to Rule 13d-3(d)(1), calculated as the sum of: (i) 4,217,848 Shares issued and outstanding as of May 14, 2025, as disclosed by the Company in the Quarterly Report on Form 10-Q filed with the SEC on May 20, 2025 ("FY25Q1 10-Q"); (ii) an aggregate of 10,934,178 Shares underlying the New Keep Well Warrants previously issued to Acuitas in June 2024; (iii) 1,111,112 Shares issuable to Acuitas Capital (or its designee) upon the conversion of the Surviving Note previously issued to Acuitas Capital in November 2023 (assuming (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash); (iv) an aggregate of 6,277,783 Shares issuable to Acuitas Capital (or its designee) upon the conversion of outstanding Demand Notes purchased by Acuitas Capital (assuming, in each case, (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash); (v) an aggregate of 11,964,311 Shares underlying the Demand Warrants issued to Acuitas in connection with the purchase of Demand Notes pursuant to the Sixth Amendment; and (vi) an aggregate of 7,388,895 Shares underlying the Conversion Warrants issuable to Acuitas Capital (or its designee) (assuming, in each case, (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash), in each case, as described further in Item 5 below.


SCHEDULE 13D



Comment for Type of Reporting Person:
Based on 18,995,638 Shares deemed outstanding pursuant to Rule 13d-3(d)(1), calculated as the sum of: (i) 4,217,848 Shares issued and outstanding as of May 14, 2025, as disclosed by the Company in the FY25Q1 10-Q; (ii) 1,111,112 Shares issuable to Acuitas Capital (or its designee) upon the conversion of the Surviving Note previously issued to Acuitas Capital in November 2023 (assuming (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash); (iii) an aggregate of 6,277,783 Shares issuable to Acuitas Capital (or its designee) upon the conversion of outstanding Demand Notes purchased by Acuitas Capital (assuming, in each case, (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash); and (iv) an aggregate of 7,388,895 Shares underlying the Conversion Warrants issuable to Acuitas Capital (or its designee) (assuming, in each case, (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash), in each case, as described further in Item 5 below.


SCHEDULE 13D



Comment for Type of Reporting Person:
Based on 20,501,397 Shares deemed outstanding pursuant to Rule 13d-3(d)(1), calculated as the sum of: (i) 4,217,848 Shares issued and outstanding as of May 14, 2025, as disclosed by the Company in the FY25Q1 10-Q; and (ii) an aggregate of 16,283,549 Shares underlying the Private Placement Securities previously issued to Humanitario in November 2023, in each case, as described further below in Item 5.


SCHEDULE 13D



Comment for Type of Reporting Person:
Based on 58,177,676 Shares deemed outstanding pursuant to Rule 13d-3(d)(1), calculated as the sum of: (i) 4,217,848 Shares issued and outstanding as of May 14, 2025, as disclosed by the Company in the FY25Q1 10-Q; (ii) an aggregate of 10,934,178 Shares underlying the New Keep Well Warrants previously issued to Acuitas in June 2024; (iii) an aggregate of 16,283,549 Shares underlying the Private Placement Securities previously issued to Humanitario in November 2023; (iv) 1,111,112 Shares issuable to Acuitas Capital (or its designee) upon the conversion of the Surviving Note previously issued to Acuitas Capital in November 2023 (assuming (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash); (v) an aggregate of 6,277,783 Shares issuable to Acuitas Capital (or its designee) upon the conversion of outstanding Demand Notes purchased by Acuitas Capital (assuming, in each case, (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash); (vi) an aggregate of 11,964,311 Shares underlying the Demand Warrants issued to Acuitas in connection with the purchase of Demand Notes pursuant to the Sixth Amendment; and (vii) an aggregate of 7,388,895 Shares underlying the Conversion Warrants issuable to Acuitas Capital (or its designee) (assuming, in each case, (1) a conversion price equal to $1.80 per share and (2) any accrued interest thereon is paid in cash), in each case, as described further in Item 5 below.


SCHEDULE 13D

 
Acuitas Group Holdings, LLC
 
Signature:/s/ Terren S. Peizer
Name/Title:Terren S. Peizer, Chairman
Date:05/29/2025
 
Acuitas Capital LLC
 
Signature:/s/ Terren S. Peizer
Name/Title:Terren S. Peizer, Chairman
Date:05/29/2025
 
Humanitario Capital LLC
 
Signature:/s/ Terren S. Peizer
Name/Title:Terren S. Peizer, Sole Member
Date:05/29/2025
 
Terren S. Peizer
 
Signature:/s/ Terren S. Peizer
Name/Title:Terren S. Peizer
Date:05/29/2025