DTRT Health Acquisition Corp. Closes US$230M IPO

Winston & Strawn LLP represented DTRT Health Acquisition Corp. (the “Company”), a special purpose acquisition company formed for the purpose of entering into a business combination with one or more businesses, in its IPO of 23,000,000 units at a price of US$10.00 per unit, including 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The units are listed on The NASDAQ Capital Market (“NASDAQ”) and began trading under the ticker symbol “DTRTU” on September 2, 2021. Each unit consists of one share of Class A common stock of the Company and one-half of one redeemable warrant with each whole warrant exercisable to purchase one share of Class A common stock at a price of US$11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on NASDAQ under the symbols “DTRT” and “DTRTW,” respectively. While the Company may pursue an initial business combination with a company in any sector or geography, it intends to focus its search on the healthcare industry, specifically home- and community-based healthcare services, which may include home health, personal and private duty care, home-based therapy, adult day care, medical transportation, pediatric health, facility-based community services, healthcare information technology and software services, care management, behavioral health, staffing, medical devices, and health and wellness programs, among others. Cantor Fitzgerald & Co. acted as the sole bookrunner and Odeon Capital Group, LLC acted as the lead manager for the offering.