Item 1.02 Termination of a Material Definitive Agreement.
As previously disclosed, on September 28, 2022, DTRT Health Acquisition Corp., a
Delaware corporation ("DTRT" or the "Company"), entered into an agreement and
plan of merger by and among DTRT, Grizzly New Pubco, Inc. ("New Pubco"), a
wholly owned subsidiary of DTRT, Grizzly Merger Sub, Inc., a wholly owned
subsidiary of New Pubco ("Grizzly Merger Sub"), Consumer Direct Holdings, Inc.,
a Montana corporation ("CDH"), and the Pre-Closing Holder Representative (as
defined therein) (as it may be amended and/or restated from time to time, the
"Merger Agreement"). The Merger Agreement would have provided, subject to its
terms and conditions, for the initial business combination of DTRT (the
"Business Combination").
On January 4, 2023, the Company received a notice of termination of the Merger
Agreement from CDH (the "Notice").
The Notice terminates the Merger Agreement as of January 11, 2023. By virtue of
the termination of the Merger Agreement, all other ancillary agreements related
to the Business Combination terminate in accordance with their terms. As a
result of the termination of the Merger Agreement, the Company's sponsor, DTRT
Health Sponsor LLC, has informed the Company that it will not contribute any
additional funds to the Company's trust account. Accordingly, the Company will
liquidate and dissolve as soon as practicable in accordance with the Company's
charter.
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