DRI Capital launches US$400M IPO of DRI Healthcare Trust
January 25, 2021
400.00 Million USD
On January 25, 2021, DRI Capital Inc. (DRI) announced plans to launch a US$400 million initial public offering (IPO) on the Toronto Stock Exchange of DRI Healthcare Trust which is a cross-border income trust that will acquire and own pharmaceutical royalties. The IPO will be launching into a booming biotech and pharmaceutical market, with recent Canadian deals from these sectors earning vast interest from public investors.
DRI is a Toronto-based manager of healthcare royalty funds, acquiring royalty interests in investors' products in the healthcare and pharmaceutical sectors. DRI Healthcare Trust is a tax-efficient cross-border income trust that acquire and own pharmaceutical royalties. McCarthy Tétrault acted as special tax counsel to DRI, adding yet another success story to our National Tax Group's expertise in assisting and advising clients on Canada’s most innovative, high-profile strategic tax matters.
McCarthy Tétrault LLP advised DRI, as special tax counsel, with a team that included Robert Kopstein, Raj Juneja and Brendan Festeryga.