DRI Healthcare Trust Closes Previously Announced Refinancing of Preferred Securities

– Transaction significantly reduces potential dilution with a net reduction of warrants equivalent to 8.2% of units outstanding –

TORONTO, April 23, 2024 /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (the "Trust") announces the closing of its previously announced preferred securities refinancing, whereby its US$114,760,000 aggregate principal amount of Series A and Series B preferred securities and 6,369,180 warrants were exchanged for US$135,202,000 aggregate principal amount of new Series C preferred securities and 1,749,996 new warrants. The new warrants have an exercise price of US$15.00, representing a 20% premium to the five day volume-weighted average price of the Trust's units.