DTRT Health Acquisition yesteray convened and adjourned a meeting at which shareholders were supposed to vote on a three-month deadline extension. The meeting has been pushed back to the SPAC’s termination deadline, Dec. 6.
DTRT today in a press release said if the extension is approved next week its sponsor would deposit $300,000 into trust for each month the extension is required, up to three months.
The SPAC in September inked a deal with Consumer Direct Holdings. The transaction is expected to deliver $234 million of cash held in the SPAC’s trust account (assuming no redemptions) and up to $150 million in debt financing, in addition to $99 million of cash on CDH’s balance sheet.
Based in Missoula, Montana, Consumer Direct is a national in-home personal care provider offering in-home care assistance and customer service to older adults and people with disabilities who require long-term care and support with activities of daily living. Read more.
