Consumer Direct plans up to $150 million of new debt with merger

By Sara Rosenberg

New York, Sept. 29 – Consumer Direct Holdings Inc. plans on getting up to $150 million in debt financing in connection with its merger with DTRT Health Acquisition Corp., a publicly traded special purpose acquisition company, according to a news release.

Assuming no redemptions, the transaction is anticipated to result in a combined company having up to $300 million of total available liquidity on a consolidated basis, which would provide adequate funding for ongoing operations, development and expansion.

Closing is expected in the first quarter of 2023, subject to stockholder approval, regulatory approvals and other customary conditions.

Deutsche Bank Securities Inc. is acting as financial adviser to DTRT. Bank of Montana is acting as financial adviser to Consumer Direct.

Consumer Direct is a Missoula, Mont.-based provider of in-home personal care that supports aging adults and individuals with disabilities. The combined company will be called Consumer Direct Care Network Inc.

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