secwatch.observer — SEC 8-K summary
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Issuer:     DIVERSIFIED HEALTHCARE TRUST (DHC)
CIK:        0001075415
Form:       8-K
Filed at:   2023-04-12T23:59:59+00:00
Accession:  0001104659-23-044625
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DHC to merge with OPI; DHC shareholders receive 0.147 OPI shares each, OPI renamed
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- Merger: DHC merges into OPI; DHC shareholders get 0.147 OPI shares per DHC share; OPI renamed Diversified Properties Trust.
- Conditions include approvals from DHC and OPI shareholders, regulatory clearance, OPI credit facility extension/replacement, tax opinions; target close by Sep 29, 2023.
- Termination fees: DHC pays $5.9M if terminates for superior proposal; OPI pays $11.2M.
- OPI secured $368M bridge commitment from JPMorgan to finance the merger.
- RMR waives termination fees under management agreements upon merger close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1075415/000110465923044625/0001104659-23-044625-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1075415/000110465923044625/tm2312244d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-044625

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