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  "documentTitle": "Office Properties Income Trust | Mergers and Acquisitions Presentation Deck | 16 slides",
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  "authorName": "Office Properties Income Trust",
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  "presentationDate": "2023-04-01 00:00:00",
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      "text": "Combined Company will be led by OPI executive management team.\nThe RMR Group (RMR) has agreed to waive the contractual termination fee associated with the DHC business management agreement and property management agreement specific to this transaction.",
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      "text": "OPI will reset its annual dividend to a sustainable $1.00 per share ($0.25 per quarter) beginning in Q2 2023 (declared in April and paid in May).\nNew dividend level will increase financial flexibility for OPI through the closing of the transaction and for the Combined Company post closing.",
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      "text": "Expected closing Q3 2023, subject to customary conditions and approval by OPI and DHC shareholders.",
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      "text": "Strategic merger between Office Properties Income Trust (OPI) and Diversified Healthcare Trust (DHC), with OPI as the surviving entity.\nOPI will change its name to Diversified Properties Trust at closing, referred to herein as the \"Combined Company.\"\nDHC shareholders will receive 0.147 common shares of OPI for each DHC common share, implying stock consideration of $1.70 per share. 1\n20% premium to the average closing price of DHC common shares for the 30 trading days ended April 10, 2023.\nPost transaction ownership: approximately 58% OPI shareholders / 42% DHC shareholders.",
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      "text": "Combined Company will have approximately $12.4 billion of total gross assets with 539 properties in 40 states and Washington D.C.2\nApproximately $2 million to $3 million of identified cost savings / synergies annually.\nLimited integration risk given common management by RMR.",
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      "text": "1. Based on OPI's closing share price of $11.55 on April 10, 2023.\n2. Based on total gross assets (total assets plus accumulated depreciation) of each company at December 31, 2022.",
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      "text": "Creating A Diversified REIT With a Broad Portfolio, Defensive Tenant Base and Strong Growth Potential",
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