Item 8.01. Other Events
Consummation of Initial Public Offering
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.
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 DTRT Health Sponsor LLC at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $11,200,000.
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.
An audited balance sheet as of September 7, 2021 reflecting receipt of the proceeds upon consummation of the IPO and the Private
Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.