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Catasys Announces Closing of $15 Million Public OfferingLOS ANGELES, April 28, 2017 /PRNewswire/ -- Catasys, Inc. (NASDAQ: CATS), a provider of proprietary predictive analytics and integrated treatment solutions to health plans, today announced the closing of its previously announced underwritten public offering of 3,125,000 shares of common stock. The shares were listed on the Nasdaq Capital Market under the symbol CATS on April 26, 2017. The aggregate gross proceeds to Catasys from the public offering were $15 million prior to deducting underwriting discounts, commissions and other estimated offering expenses. Catasys has granted the underwriters a 45-day option to purchase up to an additional 468,750 shares of common stock to cover over-allotments, if any. Catasys intends to use the net proceeds from the public offering to repay certain of its outstanding convertible debentures and for working capital and general corporate purposes. Joseph Gunnar & Co., LLC acted as sole book-running manager for the offering. The Securities and Exchange Commission declared effective a registration statement on Form S-1 relating to these securities on April 25, 2017. A final prospectus relating to this offering was filed with the Securities and Exchange Commission. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained by contacting Joseph Gunnar & Co., LLC, Prospectus Department, 30 Broad Street, 11th Floor, New York, NY 10004, telephone 212-440-9600, email: [email protected]. Investors may also obtain these documents at no cost by visiting the Securities and Exchange Commission's website at http://www.sec.gov. Before you invest, you should read the prospectus and other documents Catasys has filed or will file with the Securities and Exchange Commission for more complete information about Catasys and the offering. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities inany state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Catasys, Inc. OnTrak is currently improving member health and, at the same time, is demonstrating reduced inpatient and emergency room utilization, driving a more than 50 percent reduction in total health insurers' costs for enrolled members. OnTrak is currently available to members of several leading health plans in Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Missouri, New Jersey, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Wisconsin. For further information, please visit catasys.com. Forward-Looking Statements
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/catasys-announces-closing-of-15-million-public-offering-300448216.html SOURCE Catasys, Inc. |