Attached files
file | filename |
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EX-99.2 - EX-99.2 - DTRT Health Acquisition Corp. | d98319dex992.htm |
EX-99.1 - EX-99.1 - DTRT Health Acquisition Corp. | d98319dex991.htm |
EX-10.5 - EX-10.5 - DTRT Health Acquisition Corp. | d98319dex105.htm |
EX-10.4 - EX-10.4 - DTRT Health Acquisition Corp. | d98319dex104.htm |
EX-10.3 - EX-10.3 - DTRT Health Acquisition Corp. | d98319dex103.htm |
EX-10.2 - EX-10.2 - DTRT Health Acquisition Corp. | d98319dex102.htm |
EX-10.1 - EX-10.1 - DTRT Health Acquisition Corp. | d98319dex101.htm |
EX-4.1 - EX-4.1 - DTRT Health Acquisition Corp. | d98319dex41.htm |
EX-3.1 - EX-3.1 - DTRT Health Acquisition Corp. | d98319dex31.htm |
EX-1.1 - EX-1.1 - DTRT Health Acquisition Corp. | d98319dex11.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 8, 2021 (September 1, 2021)
DTRT HEALTH ACQUISITION CORP.
(Exact name of registrant as specified in its charter)
Delaware | 001-40774 | 86-3336748 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1415 West 22nd Street, Tower Floor
Oak Brook, IL 60523
(Address of principal executive offices, including zip code)
Registrants telephone number, including area code: (312) 316-5473
Not Applicable
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant | DTRTU | The Nasdaq Stock Market LLC | ||
Class A common stock, par value $0.0001 per share | DTRT | The Nasdaq Stock Market LLC | ||
Redeemable warrants, each warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share | DTRTW | The Nasdaq Stock Market LLC |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01. Entry into a Material Definitive Agreement.
On September 7, 2021, DTRT Health Acquisition Corp. (the Company) consummated its initial public offering (IPO) of 23,000,000 units (the Units), including the issuance of 3,000,000 Units as a result of the underwriters exercise of their over-allotment option in full. Each Unit consists of one share of Class A common stock of the Company, par value $0.0001 per share (the Class A Common Stock), and one-half of one redeemable warrant of the Company (each whole warrant, a Warrant), with each Warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $230,000,000.
In connection with the IPO, the Company entered into the following agreements, forms of which were previously filed as exhibits to the Companys Registration Statement on Form S-1 (File No. 333-258742) for the IPO, initially filed with the U.S. Securities and Exchange Commission (the Commission) on August 12, 2021, as amended (the Registration Statement):
| An Underwriting Agreement, dated September 1, 2021, by and between the Company and Cantor Fitzgerald & Co., as representative of the underwriters, a copy of which is attached as Exhibit 1.1 hereto and incorporated herein by reference. |
| A Warrant Agreement, dated September 1, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent, a copy of which is attached as Exhibit 4.1 hereto and incorporated herein by reference. |
| A Letter Agreement, dated September 1, 2021 (the Letter Agreement), by and among the Company, its executive officers, its directors and DTRT Health Sponsor LLC (the Sponsor), a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference. |
| An Investment Management Trust Agreement, dated September 1, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as trustee, a copy of which is attached as Exhibit 10.2 hereto and incorporated herein by reference. |
| A Registration Rights Agreement, dated September 1, 2021, by and between the Company and the Sponsor, a copy of which is attached as Exhibit 10.3 hereto and incorporated herein by reference. |
| A Private Placement Warrants Purchase Agreement, dated September 1, 2021, by and between the Company and the Sponsor (the Private Placement Warrants Purchase Agreement), a copy of which is attached as Exhibit 10.4 hereto and incorporated herein by reference. |
| An Administrative Services Agreement, dated September 1, 2021, by and among the Company and the Sponsor, a copy of which is attached as Exhibit 10.5 hereto and incorporated herein by reference. |
Item 3.02. Unregistered Sales of Equity Securities.
Simultaneously with the closing of the IPO, pursuant to the Private Placement Warrants Purchase Agreement, the Company completed the private sale of 11,200,000 warrants (the Private Placement Warrants) to the Sponsor at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $11,200,000. The Private Placement Warrants are identical to the Warrants included as part of the Units sold in the IPO, except that the Private Placement Warrants, so long as they are held by the Sponsor or its permitted transferees, (i) are not redeemable by the Company, (ii) may not (including the shares of Class A Common Stock issuable upon exercise of the warrants), subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of the Companys initial business combination, (iii) may be exercised on a cashless basis and (iv) are entitled to registration rights. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Warrants was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the IPO, on September 1, 2021, Don Klink, Jeannee Parker Martin, Dipa Mehta and Mary Ann Christopher (collectively, the Directors) were appointed to the board of directors of the Company (the Board).
The Board has determined that Jeannee Parker Martin, Dipa Mehta and Mary Ann Christopher are independent directors within the meaning of applicable SEC and Nasdaq rules. Effective September 1, 2021, Ms. Martin, Ms. Mehta and Ms. Christopher were appointed to the Boards Audit Committee, with Ms. Christopher serving as chair of the Audit Committee. Effective September 1, 2021, Ms. Martin, Ms. Mehta and Ms. Christopher were appointed to the Boards Compensation Committee, with Ms. Martin serving as chair of the Compensation Committee.
Following the appointment of the Directors, the Board is comprised of the following three classes: the term of office of the first class of directors, Class I, consists of Ms. Christopher and will expire at the Companys first annual meeting of stockholders; the term of office of the second class of directors, Class II, consists of Ms. Mehta and Ms. Parker and will expire at the Companys second annual meeting of stockholders; and the term of office of the third class of directors, Class III, consists of Mr. Klink and Mr. Heaney and will expire at the Companys third annual meeting of stockholders.
On September 1, 2021, in connection with his or her appointment to the Board, each Director entered into the Letter Agreement as well as an indemnity agreement with the Company in the form previously filed as Exhibit 10.5 to the Registration Statement.
Other than the foregoing, none of the Directors are party to any arrangement or understanding with any person pursuant to which they were appointed as directors nor are they party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company.
The foregoing descriptions of the Letter Agreement and the form of indemnity agreement do not purport to be complete and are qualified in their entireties by reference to the Letter Agreement and form of indemnity agreement, copies of which are attached as Exhibit 10.1 hereto and Exhibit 10.5 to the Registration Statement, respectively, and are incorporated herein by reference.
Item 5.03. Amendments to Certificate of Incorporation or Bylaws; Change in Fiscal Year.
On September 1, 2021, in connection with the IPO, the Company adopted its Amended and Restated Certificate of Incorporation (the Amended Charter), effective the same day. The terms of the Amended Charter are set forth in the Registration Statement and are incorporated herein by reference. A copy of the Amended Charter is attached as Exhibit 3.1 hereto and incorporated herein by reference.
Item 8.01. Other Events.
A total of $234,600,000, comprised of $223,400,000 of the proceeds from the IPO (which amount includes $8,050,000 of the deferred underwriting discount) and $11,200,000 of the proceeds of the sale of the Private Placement Warrants, was placed in a trust account at J.P. Morgan Chase Bank, N.A. maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds held in the trust account that may be released to the Company to pay its taxes and up to $100,000 of interest to pay dissolution expenses, the funds held in the trust account will not be released from the trust account until the earliest of (i) the completion of the Companys initial business combination, (ii) the redemption of any of the shares of Class A Common Stock included in the Units sold in the IPO (the public shares) properly submitted in connection with a stockholder vote to amend the Companys Amended Charter (A) to modify the substance or timing of the Companys obligation to redeem 100% of the public shares if it does not complete its initial business combination within 15 months from the closing of the IPO or (B) with respect to any other material provisions relating to stockholders rights or pre-initial business combination activity or (iii) the redemption of the Companys public shares if it is unable to complete its initial business combination within 15 months from the closing of the IPO, subject to applicable law.
On September 1, 2021, the Company issued a press release announcing the pricing of the IPO, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.
On September 7, 2021, the Company issued a press release announcing the closing of the IPO, a copy of which is attached as Exhibit 99.2 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
EXHIBIT INDEX
* | Filed herewith. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DTRT HEALTH ACQUISITION CORP. | ||
By: |
/s/ Mark Heaney | |
Name: Mark Heaney | ||
Title: Chief Executive Officer |
Dated: September 8, 2021