Draper Oakwood Technology Acquisition, Inc. (“DOTA”) (NASDAQ:
“DOTA,” “DOTAU,” “DOTAR” and “DOTAW”) and Reebonz Limited
(“Reebonz”), a leading online luxury marketplace and platform in
the Asia Pacific region based in Singapore announced on September
4, 2018 that they had entered into a definitive business
combination agreement (the “Business Combination Agreement”),
pursuant to which DOTA and Reebonz will become subsidiaries of a
newly created Cayman Islands exempted company, DOTA Holdings
Limited (“RBZ”). Following the completion of the transaction, RBZ
will be renamed Reebonz Holding Limited. It is expected that RBZ
will apply for listing of its ordinary shares on the NASDAQ Stock
Market under the ticker “RBZ”. The combined company will continue
to be led by Reebonz's experienced management team under the
leadership of Chief Executive Officer and co-founder Samuel Lim.
Reebonz (pronounced “ribbons”) is a leading online luxury
marketplace and platform in the Asia Pacific region for buying and
selling new and pre-owned products.
DOTA and Reebonz announced today that the transcript of a
presentation discussing the proposed business combination is now
available on DOTA’s website at ir.draperoakwood.com/.
In addition DOTA and Reebonz announced today that an updated
Investor Presentation has been filed by DOTA with the Securities
and Exchange Commission (“SEC”) under cover of Form 8-K and is
available on the SEC’s website at www.sec.gov. DOTA has also filed
a preliminary proxy statement with the SEC, which is also available
on the SEC’s website.
About Reebonz
Headquartered in Singapore and founded in 2009, Reebonz
(pronounced “ribbons”) is the trusted online marketplace and
platform for buying and selling new and preowned luxury products in
the Asia Pacific region. Leveraging data and technology, Reebonz
makes luxury accessible by operating as an eco-system of B2C e-tail
and B2C marketplace for over 1,000 brands and 172 boutiques,
supported by C2C marketplaces that enable individuals to sell
through its platform. With an easy shopping experience, members can
enjoy convenient access to the selection of products that Reebonz
sources as well as from a curation multi-brand luxury boutiques
from all around the world. Investors include prominent venture
capital investors, strategic investors and individuals such as
Vertex Ventures, GGV Capital, Intel Capital, Matrix Partners China,
Mediacorp, SGInnovate, FengHe Group, OCBC Bank, Richard Ji (CIO and
Managing Partner of All Star Investments), and Richard Liu
(managing director of Morningside Venture Capital), amongst
others.
About Draper Oakwood Technology Acquisition, Inc.
Draper Oakwood Technology Acquisition, Inc. is a special purpose
acquisition company formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization, or similar business combination. DOTA raised
approximately $57.5 million from public stockholders in connection
with its initial public offering in September 2017. DOTA’s units
began trading on The NASDAQ Capital Market on September 15, 2017
and its units, commons stock, rights and warrants trade on NASDAQ
under the ticker symbols “DOTAU,” “DOTA,” “DOTAR” and “DOTAW”,
respectively.
Forward Looking Statements
Certain statements made in this release are “forward looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words “estimates,”
“projected,” “expects,” “anticipates,” “forecasts,” “plans,”
“intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,”
“propose” and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements. These forward-looking
statements are not guarantees of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside DOTA’s or Reebonz’s control, that could cause
actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Important factors,
among others, that may affect actual results or outcomes include:
the inability to obtain DOTA stockholder approval of the business
combination, the inability to complete the transaction contemplated
by the Business Combination Agreement because of failure of closing
conditions or other reasons; the inability to recognize the
anticipated benefits of the proposed business combination, which
may be affected by, among other things, the amount of cash
available following any redemptions by DOTA stockholders; the
ability to meet NASDAQ’s listing standards following the
consummation of the transactions contemplated by the Business
Combination Agreement; costs related to the proposed business
combination; Reebonz’s ability to manage growth; the reaction of
Reebonz customers and suppliers to the business combination;
Reebonz’s ability to identify and integrate other future
acquisitions; rising costs adversely affecting Reebonz’s
profitability; potential litigation involving DOTA or Reebonz or
the validity or enforceability of Reebonz’s intellectual property;
and general economic and market conditions impacting demand for
Reebonz’s products. See the risk factors disclosed in the
preliminary proxy statement for the business combination for
additional risks associated with the business combination. Neither
DOTA nor Reebonz undertakes any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Additional Information about the Transaction and Where to
Find It
The proposed transaction will be submitted to stockholders of
DOTA for their approval. In connection with the proposed business
combination, RBZ has filed with the SEC a registration statement on
Form F-4 for the RBZ securities to be issued to DOTA security
holders at the closing of the business combination, which
registration statement contains a preliminary proxy statement of
DOTA in connection with a special meeting of the stockholders of
DOTA to consider and vote on the business combination and related
matters. Prior to the special meeting, DOTA will file a definitive
proxy statement with the SEC. RBZ and DOTA will mail the definitive
proxy statement/prospectus and other relevant documents to its
stockholders in connection with the meeting. Investors and security
holders of DOTA are advised to read, when available, the draft of
the registration statement, the preliminary proxy statement, and
amendments thereto, and the final registration statement (as
declared effective by the SEC) and the definitive proxy statement,
which will contain important information about the proposed
business combination and the parties thereto. The registration
statement and definitive proxy statement will be mailed to
stockholders of DOTA as of a record date to be established by DOTA
for voting on the proposed business combination. Stockholders will
also be able to obtain copies of the registration statement and
proxy statement, without charge, once available, at the SEC’s
website at www.sec.gov or by directing a request to: Draper Oakwood
Technology Acquisition, Inc., c/o Draper Oakwood Investments, LLC,
55 East 3rd Ave., San Mateo, CA 94401, USA, Attention: Aamer
Sarfraz, Email: aamer@draperoakwood.com
Participants in the Solicitation
DOTA, Reebonz, and their respective directors, executive
officers and other members of their management and employees, under
SEC rules, may be deemed to be participants in the solicitation of
proxies of DOTA stockholders in connection with the proposed
business combination. Investors and security holders may obtain
more detailed information regarding the names, affiliations and
interests in DOTA’s directors and in its Annual Report on Form 10-K
for the fiscal year ended December 31, 2017, which was filed with
the SEC on March 29, 2018. Information regarding the persons who
may, under SEC rules, be deemed participants in the solicitation of
proxies to the DOTA’s stockholders in connection with the proposed
business combination will be set forth in the proxy statement for
the proposed business combination when available. Information
concerning the interests of DOTA’s and Reebonz’s participants in
the solicitation, which may, in some cases, be different than those
of DOTA’s and Reebonz’s equity holders generally, will be set forth
in the proxy statement relating to the proposed business
combination when it becomes available.
Disclaimer
This release shall neither constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180926005951/en/
Draper Oakwood Technology Acquisition,
Inc.Aamer A. Sarfraz,
713-213-7061aamer@draperoakwood.comorReebonz
Limitedir@reebonz.com
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