[Form 4] GBank Financial Holdings Inc. Insider Trading Activity
Schedule 13G filing for Ontrak, Inc. (OTRK) details the passive ownership of several related investment entities controlled by Michael Bigger.
Positions as of 27 June 2025
- Bigger Capital Fund LP and District 2 Capital Fund LP each owned 325,000 common shares, representing 4.59 % of the 7,084,537 shares outstanding.
- Because he controls both funds鈥� general partners, Michael Bigger may be deemed to own 650,000 shares, or 9.17 % of the class.
Additional securities not included in the percentages
- 716,667 pre-funded warrants per fund, subject to a 9.99 % ownership cap.
- 4,166,668 common warrants per fund; exercise requires shareholder approval and is capped at 4.99 % ownership.
Post-event update (7 July 2025)
- Each fund reduced its common-stock position to roughly 123,000 shares.
- Given the 4.99 %/9.99 % caps and pending shareholder approval on the warrants, no reporting person now owns at least 5 % of Ontrak鈥檚 common stock.
The group filed under Rule 13d-1(c) and certifies the holdings were not acquired to influence control of the issuer.
La dichiarazione Schedule 13G per Ontrak, Inc. (OTRK) descrive la propriet脿 passiva di diverse entit脿 di investimento correlate controllate da Michael Bigger.
Posizioni al 27 giugno 2025
- Bigger Capital Fund LP e District 2 Capital Fund LP possiedono ciascuno 325.000 azioni ordinarie, rappresentando il 4,59% delle 7.084.537 azioni in circolazione.
- Poich茅 controlla i partner generali di entrambi i fondi, Michael Bigger pu貌 essere considerato proprietario di 650.000 azioni, pari al 9,17% della classe.
Altri titoli non inclusi nelle percentuali
- 716.667 warrant prefinanziati per fondo, soggetti a un limite di possesso del 9,99%.
- 4.166.668 warrant ordinari per fondo; l'esercizio richiede l'approvazione degli azionisti ed 猫 limitato al 4,99% di possesso.
Aggiornamento post-evento (7 luglio 2025)
- Ogni fondo ha ridotto la propria posizione in azioni ordinarie a circa 123.000 azioni.
- Considerati i limiti del 4,99%/9,99% e l'approvazione degli azionisti in sospeso sui warrant, nessun soggetto segnalante possiede ora almeno il 5% delle azioni ordinarie di Ontrak.
Il gruppo ha presentato la dichiarazione ai sensi della Regola 13d-1(c) e certifica che le partecipazioni non sono state acquisite per influenzare il controllo dell'emittente.
La presentaci贸n Schedule 13G para Ontrak, Inc. (OTRK) detalla la propiedad pasiva de varias entidades de inversi贸n relacionadas controladas por Michael Bigger.
Posiciones al 27 de junio de 2025
- Bigger Capital Fund LP y District 2 Capital Fund LP poseen cada uno 325,000 acciones ordinarias, representando el 4.59% de las 7,084,537 acciones en circulaci贸n.
- Dado que controla a los socios generales de ambos fondos, Michael Bigger puede considerarse propietario de 650,000 acciones, o el 9.17% de la clase.
Valores adicionales no incluidos en los porcentajes
- 716,667 warrants prefinanciados por fondo, sujetos a un l铆mite de propiedad del 9.99%.
- 4,166,668 warrants ordinarios por fondo; su ejercicio requiere aprobaci贸n de los accionistas y est谩 limitado al 4.99% de propiedad.
Actualizaci贸n posterior al evento (7 de julio de 2025)
- Cada fondo redujo su posici贸n en acciones ordinarias a aproximadamente 123,000 acciones.
- Considerando los l铆mites del 4.99%/9.99% y la aprobaci贸n de los accionistas pendiente para los warrants, ninguna persona informante posee ahora al menos el 5% de las acciones ordinarias de Ontrak.
El grupo present贸 bajo la Regla 13d-1(c) y certifica que las participaciones no fueron adquiridas para influir en el control del emisor.
Ontrak, Inc. (OTRK)鞐� 雽�頃� Schedule 13G 鞝滌稖鞚� Michael Bigger臧� 韱奠牅頃橂姅 鞐煬 甏�霠� 韴瀽 旮瓣磤鞚� 靾橂彊鞝� 靻岇湢甓岇潉 靸侅劯頌� 靹る獏頃╇媹雼�.
2025雲� 6鞗� 27鞚� 旮办 氤挫湢 順勴櫓
- Bigger Capital Fund LP鞕� District 2 Capital Fund LP電� 臧侁皝 325,000 氤错喌欤茧ゼ 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措姅 齑� 7,084,537欤� 欷� 4.59%鞐� 頃措嫻頃╇媹雼�.
- 霊� 韼�霌滌潣 鞚茧皹 韺岉姼雱堧ゼ 氇憪 韱奠牅頃橁赴 霑岆鞐� Michael Bigger電� 齑� 650,000欤�, 歃� 9.17%鞚� 歆�攵勳潉 氤挫湢頃� 瓴冹溂搿� 臧勳＜霅� 靾� 鞛堨姷雼堧嫟.
牍勳湪鞐� 韽暔霅橃 鞎婌潃 於旉皜 歃濌秾
- 臧� 韼�霌滊嫻 716,667臧滌潣 靹犾旮� 鞗岆煱韸戈皜 鞛堨溂氅�, 靻岇湢 頃滊弰電� 9.99%鞛呺媹雼�.
- 臧� 韼�霌滊嫻 4,166,668臧滌潣 氤错喌 鞗岆煱韸戈皜 鞛堨溂氅�, 頄夓偓 鞁� 欤检＜ 鞀轨澑 頃勳殧頃橂┌ 靻岇湢 頃滊弰電� 4.99%鞛呺媹雼�.
靷泟 鞐呺嵃鞚错姼 (2025雲� 7鞗� 7鞚�)
- 臧� 韼�霌滊姅 氤错喌欤� 氤挫湢霟夓潉 鞎� 123,000欤茧 欷勳榾鞀惦媹雼�.
- 4.99%/9.99% 頃滊弰 氚� 鞗岆煱韸胳棎 雽�頃� 欤检＜ 鞀轨澑 雽�旮� 欷戩澑 鞝愳潉 瓿犽牑頃� 霑�, 順勳灛 鞏措枻 氤搓碃鞛愲弰 Ontrak 氤错喌欤� 5% 鞚挫儊鞚� 氤挫湢頃橃 鞎婌姷雼堧嫟.
鞚� 攴鸽９鞚� Rule 13d-1(c)鞐� 霐半澕 鞝滌稖頄堨溂氅�, 氤挫湢 欤检嫕鞚� 氚滍枆鞚胳潣 歆�氚瓣秾鞐� 鞓來枼鞚� 氙胳箻旮� 鞙勴暣 旆摑霅� 瓴冹澊 鞎勲嫎鞚� 鞚胳頃╇媹雼�.
Le d茅p么t Schedule 13G pour Ontrak, Inc. (OTRK) d茅taille la propri茅t茅 passive de plusieurs entit茅s d'investissement li茅es contr么l茅es par Michael Bigger.
Positions au 27 juin 2025
- Bigger Capital Fund LP et District 2 Capital Fund LP poss茅daient chacun 325 000 actions ordinaires, repr茅sentant 4,59 % des 7 084 537 actions en circulation.
- 脡tant donn茅 qu'il contr么le les partenaires g茅n茅raux des deux fonds, Michael Bigger peut 锚tre consid茅r茅 comme propri茅taire de 650 000 actions, soit 9,17 % de la cat茅gorie.
Titres suppl茅mentaires non inclus dans les pourcentages
- 716 667 bons de souscription pr茅financ茅s par fonds, soumis 脿 un plafond de d茅tention de 9,99 %.
- 4 166 668 bons de souscription ordinaires par fonds ; leur exercice n茅cessite l'approbation des actionnaires et est plafonn茅 脿 4,99 % de d茅tention.
Mise 脿 jour post-茅v茅nement (7 juillet 2025)
- Chaque fonds a r茅duit sa position en actions ordinaires 脿 environ 123 000 actions.
- Compte tenu des plafonds de 4,99 %/9,99 % et de l'approbation des actionnaires en attente concernant les bons, aucune personne d茅clarante ne d茅tient d茅sormais au moins 5 % des actions ordinaires d'Ontrak.
Le groupe a d茅pos茅 sous la r猫gle 13d-1(c) et certifie que les participations n'ont pas 茅t茅 acquises pour influencer le contr么le de l'茅metteur.
Schedule 13G-Meldung f眉r Ontrak, Inc. (OTRK) beschreibt den passiven Besitz mehrerer damit verbundener Investmentgesellschaften, die von Michael Bigger kontrolliert werden.
Positionen zum 27. Juni 2025
- Bigger Capital Fund LP und District 2 Capital Fund LP besitzen jeweils 325.000 Stammaktien, was 4,59 % der 7.084.537 ausstehenden Aktien entspricht.
- Da er die Generalpartner beider Fonds kontrolliert, kann Michael Bigger als Eigent眉mer von 650.000 Aktien oder 9,17 % der Klasse angesehen werden.
Zus盲tzliche Wertpapiere, die nicht in den Prozentangaben enthalten sind
- 716.667 vorfinanzierte Optionsscheine pro Fonds, unterliegen einer Besitzobergrenze von 9,99 %.
- 4.166.668 Stammoptionsscheine pro Fonds; Aus眉bung erfordert die Zustimmung der Aktion盲re und ist auf 4,99 % Besitz begrenzt.
Nachereignis-Update (7. Juli 2025)
- Jeder Fonds hat seine Position an Stammaktien auf etwa 123.000 Aktien reduziert.
- Angesichts der 4,99 %/9,99 %-Grenzen und der ausstehenden Zustimmung der Aktion盲re zu den Optionsscheinen besitzt nun keine meldende Person mindestens 5 % der Stammaktien von Ontrak.
Die Gruppe reichte die Meldung gem盲脽 Regel 13d-1(c) ein und best盲tigt, dass die Beteiligungen nicht zum Zweck der Einflussnahme auf die Kontrolle des Emittenten erworben wurden.
- None.
- Potential dilution: The funds collectively hold warrants for up to 8.3 million shares, which could expand the share count once the 4.99 %/9.99 % caps and shareholder approvals are satisfied.
- Reduced support from major holder: Sale of common shares lowered each fund鈥檚 stake below 5 %, potentially signaling diminished long-term commitment.
Insights
TL;DR: Ownership slips below 5 %; large warrant position could dilute share count if exercised.
The filing confirms that Bigger-affiliated funds once held 650 k shares (9.17 %) but have since sold down to ~123 k shares each, falling below the 5 % 13G threshold. While this removes a potential block position, the funds still possess warrants for up to 8.3 m shares in total (subject to caps and approvals). If fully exercised, those warrants would materially expand Ontrak鈥檚 float; however, contractual limits and shareholder approval requirements reduce near-term execution risk. The passive 13G classification suggests no activist intent. Net impact is neutral today but highlights a sizeable latent dilution overhang investors should monitor.
TL;DR: Filing signals passive intent and confirms the holders no longer constitute a 5 % control group.
By filing under Rule 13d-1(c) the reporting persons explicitly certify non-control intentions. The joint filing agreement clarifies that the entities act together only for reporting purposes. Their reduction below the 5 % threshold removes certain disclosure obligations and lessens potential influence over shareholder votes. Governance impact is therefore limited. The sizable warrant position remains outside current voting power because of strict 4.99 % / 9.99 % caps and the need for shareholder approval. Overall, this is a routine compliance document with low immediate governance implications.
La dichiarazione Schedule 13G per Ontrak, Inc. (OTRK) descrive la propriet脿 passiva di diverse entit脿 di investimento correlate controllate da Michael Bigger.
Posizioni al 27 giugno 2025
- Bigger Capital Fund LP e District 2 Capital Fund LP possiedono ciascuno 325.000 azioni ordinarie, rappresentando il 4,59% delle 7.084.537 azioni in circolazione.
- Poich茅 controlla i partner generali di entrambi i fondi, Michael Bigger pu貌 essere considerato proprietario di 650.000 azioni, pari al 9,17% della classe.
Altri titoli non inclusi nelle percentuali
- 716.667 warrant prefinanziati per fondo, soggetti a un limite di possesso del 9,99%.
- 4.166.668 warrant ordinari per fondo; l'esercizio richiede l'approvazione degli azionisti ed 猫 limitato al 4,99% di possesso.
Aggiornamento post-evento (7 luglio 2025)
- Ogni fondo ha ridotto la propria posizione in azioni ordinarie a circa 123.000 azioni.
- Considerati i limiti del 4,99%/9,99% e l'approvazione degli azionisti in sospeso sui warrant, nessun soggetto segnalante possiede ora almeno il 5% delle azioni ordinarie di Ontrak.
Il gruppo ha presentato la dichiarazione ai sensi della Regola 13d-1(c) e certifica che le partecipazioni non sono state acquisite per influenzare il controllo dell'emittente.
La presentaci贸n Schedule 13G para Ontrak, Inc. (OTRK) detalla la propiedad pasiva de varias entidades de inversi贸n relacionadas controladas por Michael Bigger.
Posiciones al 27 de junio de 2025
- Bigger Capital Fund LP y District 2 Capital Fund LP poseen cada uno 325,000 acciones ordinarias, representando el 4.59% de las 7,084,537 acciones en circulaci贸n.
- Dado que controla a los socios generales de ambos fondos, Michael Bigger puede considerarse propietario de 650,000 acciones, o el 9.17% de la clase.
Valores adicionales no incluidos en los porcentajes
- 716,667 warrants prefinanciados por fondo, sujetos a un l铆mite de propiedad del 9.99%.
- 4,166,668 warrants ordinarios por fondo; su ejercicio requiere aprobaci贸n de los accionistas y est谩 limitado al 4.99% de propiedad.
Actualizaci贸n posterior al evento (7 de julio de 2025)
- Cada fondo redujo su posici贸n en acciones ordinarias a aproximadamente 123,000 acciones.
- Considerando los l铆mites del 4.99%/9.99% y la aprobaci贸n de los accionistas pendiente para los warrants, ninguna persona informante posee ahora al menos el 5% de las acciones ordinarias de Ontrak.
El grupo present贸 bajo la Regla 13d-1(c) y certifica que las participaciones no fueron adquiridas para influir en el control del emisor.
Ontrak, Inc. (OTRK)鞐� 雽�頃� Schedule 13G 鞝滌稖鞚� Michael Bigger臧� 韱奠牅頃橂姅 鞐煬 甏�霠� 韴瀽 旮瓣磤鞚� 靾橂彊鞝� 靻岇湢甓岇潉 靸侅劯頌� 靹る獏頃╇媹雼�.
2025雲� 6鞗� 27鞚� 旮办 氤挫湢 順勴櫓
- Bigger Capital Fund LP鞕� District 2 Capital Fund LP電� 臧侁皝 325,000 氤错喌欤茧ゼ 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措姅 齑� 7,084,537欤� 欷� 4.59%鞐� 頃措嫻頃╇媹雼�.
- 霊� 韼�霌滌潣 鞚茧皹 韺岉姼雱堧ゼ 氇憪 韱奠牅頃橁赴 霑岆鞐� Michael Bigger電� 齑� 650,000欤�, 歃� 9.17%鞚� 歆�攵勳潉 氤挫湢頃� 瓴冹溂搿� 臧勳＜霅� 靾� 鞛堨姷雼堧嫟.
牍勳湪鞐� 韽暔霅橃 鞎婌潃 於旉皜 歃濌秾
- 臧� 韼�霌滊嫻 716,667臧滌潣 靹犾旮� 鞗岆煱韸戈皜 鞛堨溂氅�, 靻岇湢 頃滊弰電� 9.99%鞛呺媹雼�.
- 臧� 韼�霌滊嫻 4,166,668臧滌潣 氤错喌 鞗岆煱韸戈皜 鞛堨溂氅�, 頄夓偓 鞁� 欤检＜ 鞀轨澑 頃勳殧頃橂┌ 靻岇湢 頃滊弰電� 4.99%鞛呺媹雼�.
靷泟 鞐呺嵃鞚错姼 (2025雲� 7鞗� 7鞚�)
- 臧� 韼�霌滊姅 氤错喌欤� 氤挫湢霟夓潉 鞎� 123,000欤茧 欷勳榾鞀惦媹雼�.
- 4.99%/9.99% 頃滊弰 氚� 鞗岆煱韸胳棎 雽�頃� 欤检＜ 鞀轨澑 雽�旮� 欷戩澑 鞝愳潉 瓿犽牑頃� 霑�, 順勳灛 鞏措枻 氤搓碃鞛愲弰 Ontrak 氤错喌欤� 5% 鞚挫儊鞚� 氤挫湢頃橃 鞎婌姷雼堧嫟.
鞚� 攴鸽９鞚� Rule 13d-1(c)鞐� 霐半澕 鞝滌稖頄堨溂氅�, 氤挫湢 欤检嫕鞚� 氚滍枆鞚胳潣 歆�氚瓣秾鞐� 鞓來枼鞚� 氙胳箻旮� 鞙勴暣 旆摑霅� 瓴冹澊 鞎勲嫎鞚� 鞚胳頃╇媹雼�.
Le d茅p么t Schedule 13G pour Ontrak, Inc. (OTRK) d茅taille la propri茅t茅 passive de plusieurs entit茅s d'investissement li茅es contr么l茅es par Michael Bigger.
Positions au 27 juin 2025
- Bigger Capital Fund LP et District 2 Capital Fund LP poss茅daient chacun 325 000 actions ordinaires, repr茅sentant 4,59 % des 7 084 537 actions en circulation.
- 脡tant donn茅 qu'il contr么le les partenaires g茅n茅raux des deux fonds, Michael Bigger peut 锚tre consid茅r茅 comme propri茅taire de 650 000 actions, soit 9,17 % de la cat茅gorie.
Titres suppl茅mentaires non inclus dans les pourcentages
- 716 667 bons de souscription pr茅financ茅s par fonds, soumis 脿 un plafond de d茅tention de 9,99 %.
- 4 166 668 bons de souscription ordinaires par fonds ; leur exercice n茅cessite l'approbation des actionnaires et est plafonn茅 脿 4,99 % de d茅tention.
Mise 脿 jour post-茅v茅nement (7 juillet 2025)
- Chaque fonds a r茅duit sa position en actions ordinaires 脿 environ 123 000 actions.
- Compte tenu des plafonds de 4,99 %/9,99 % et de l'approbation des actionnaires en attente concernant les bons, aucune personne d茅clarante ne d茅tient d茅sormais au moins 5 % des actions ordinaires d'Ontrak.
Le groupe a d茅pos茅 sous la r猫gle 13d-1(c) et certifie que les participations n'ont pas 茅t茅 acquises pour influencer le contr么le de l'茅metteur.
Schedule 13G-Meldung f眉r Ontrak, Inc. (OTRK) beschreibt den passiven Besitz mehrerer damit verbundener Investmentgesellschaften, die von Michael Bigger kontrolliert werden.
Positionen zum 27. Juni 2025
- Bigger Capital Fund LP und District 2 Capital Fund LP besitzen jeweils 325.000 Stammaktien, was 4,59 % der 7.084.537 ausstehenden Aktien entspricht.
- Da er die Generalpartner beider Fonds kontrolliert, kann Michael Bigger als Eigent眉mer von 650.000 Aktien oder 9,17 % der Klasse angesehen werden.
Zus盲tzliche Wertpapiere, die nicht in den Prozentangaben enthalten sind
- 716.667 vorfinanzierte Optionsscheine pro Fonds, unterliegen einer Besitzobergrenze von 9,99 %.
- 4.166.668 Stammoptionsscheine pro Fonds; Aus眉bung erfordert die Zustimmung der Aktion盲re und ist auf 4,99 % Besitz begrenzt.
Nachereignis-Update (7. Juli 2025)
- Jeder Fonds hat seine Position an Stammaktien auf etwa 123.000 Aktien reduziert.
- Angesichts der 4,99 %/9,99 %-Grenzen und der ausstehenden Zustimmung der Aktion盲re zu den Optionsscheinen besitzt nun keine meldende Person mindestens 5 % der Stammaktien von Ontrak.
Die Gruppe reichte die Meldung gem盲脽 Regel 13d-1(c) ein und best盲tigt, dass die Beteiligungen nicht zum Zweck der Einflussnahme auf die Kontrolle des Emittenten erworben wurden.
FAQ
How many Ontrak (OTRK) shares does Bigger Capital Fund LP currently own?
What percentage of OTRK does Michael Bigger control?
How many warrants do the funds hold and what are the limits?
Is the reporting group seeking control of Ontrak?
Why did the funds file Schedule 13G instead of 13D?
