Draper Oakwood Technology Acq. - Dotau = 1C, 1 Rt, 1/2 W.
Holders must vote in order to redeem.
Draper Reebonz Investor Presentation
Transcript September 18 Conference Call.
Nov 23 proxy - As of the date of this proxy statement/prospectus, based on funds in the trust account of approximately $59.01 million, this would have amounted to approximately $10.26 per share.
Trust = 10.27 -- Trust Account $59.01 million. Nov 23
One Warrant + $11.50 > 1 common. Call 24.
Rights = 1/10 common.
First Deadline 12 months. 9/20/18 Extendable two three-month periods at .10 per period.
EarlyBird - I Banker
U.S.-based trust account at JPMorgan Chase Bank
We intend to focus our efforts on seeking and completing an initial business combination with a company that has an enterprise value above $200 million, although a target entity with a smaller or larger enterprise value may be considered.
Our sponsor, Draper Oakwood Investments LLC, is affiliated with Mr. Timothy C. Draper, our Senior Advisor. For over 30 years, Mr. Draper has been one of the most prominent venture capital investors in the world. Mr. Draper has established numerous investment vehicles, including the Draper Associates family of early-stage venture capital funds, or collectively, Draper Associates. Since 1985, Draper Associates has provided early-stage investment to entrepreneurs with a mission to transform industries with new technologies, and to build platforms for extraordinary growth, jobs, and wealth creation. Draper Associates targets businesses in the consumer technology, financial technology, healthcare, manufacturing, education, and government technology sectors. Well-known past portfolio companies include Skype, Hotmail, Tesla, Baidu, Athenahealth, Solar City, Box, TwitchTV, SpaceX, Cruise Automation, Parametric Technology and others. Mr. Draper is also a founder of Draper Fisher Jurvetson, a venture capital firm that that has backed a significant number of companies. As an advocate for entrepreneurs and free markets, Mr. Draper is regularly featured as a keynote speaker in entrepreneurial conferences throughout the world and has frequent TV, radio and headline appearances. He has been recognized as a leader in his field through numerous awards and honors, including the Entrepreneurship Forum’s “Entrepreneur of the World” in 2015, the Commonwealth Club’s Distinguished Citizen Award for achievements in green and sustainable energy in 2007, and he was listed as one of the top 100 most influential people in finance by Worth Magazine in 2014 and #7 on the Forbes Midas List in 2006.
We currently expect Mr. Draper to (i) assist us in sourcing potential business combination targets and (ii) provide his business insights when we assess potential business combination targets. However, Mr. Draper will not be a member of the board, nor will he have any voting or decision making capacity on our behalf. Mr. Draper will also not be subject to the fiduciary requirements to which our board members are subject and will have no contractual commitments to us.
We will become a member of the Draper Venture Network following this offering. Founded by Mr. Draper, the Draper Venture Network is a global alliance of 11 independent venture capital funds across four continents that collaborate on opportunity sourcing, due diligence, corporate relationships and co-investment, and value creation for their investments. Draper Venture Network funds are currently invested in a significant number of portfolio companies and have a deep collective knowledge base in venture capital investing. The Draper Venture Network is a member of our sponsor. Pursuant to the agreement we will enter into with the Draper Venture Network, the Draper Venture Network will provide us with, among other things, business and corporate development introductions, service provider introductions and research database subscriptions. We will not be obligated to provide any contractual services to the Draper Venture Network.
We believe that there are certain types of venture-backed businesses that can benefit greatly from earlier access to public markets. It is our belief that our combined team has the experience and relationships to identify such venture-backed companies that would benefit from going public through a business combination with our company.
LOCKUP - On the date of this prospectus, the founders’ shares will be placed into an escrow account maintained in New York, New York by Continental Stock Transfer & Trust Company, acting as escrow agent. Subject to certain limited exceptions, 50% of these shares will not be transferred, assigned, sold or released from escrow until one year after the date of the consummation of our initial business combination or earlier if, subsequent to our business combination, the last sales price of our common stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period, and the remaining 50% of these shares will not be transferred, assigned, sold or released from escrow until one year after the date of the consummation of our initial business combination.