Reebonz Limited ("Reebonz") executed a letter of intent to acquire Draper Oakwood Technology Acquisition, Inc. (NasdaqCM:DOTA) from a group of shareholders in a reverse merger transaction on March 7, 2018. The letter of intent proposed a minimum of $25 million to be delivered as working capital to Reebonz at closing of the business combination. On April 27, 2018, DOTA and Reebonz executed first amendment to the letter of intent, which provided for exclusivity between the parties. Reebonz Limited ("Reebonz") signed a definitive agreement to acquire Draper Oakwood Technology Acquisition, Inc. (NasdaqCM:DOTA) in a reverse merger transaction on September 4, 2018. Under the terms of agreement, DOTA and Reebonz will become subsidiaries of a newly created Cayman Islands exempted company DOTA Holdings Limited (“RBZ”). Pursuant to the terms of the transaction, each outstanding share of Class A common stock and each outstanding share of Class F common stock of DOTA will be converted into one ordinary share of RBZ, each outstanding warrant of DOTA will be converted into one warrant of RBZ that entitles the holder thereof to purchase one ordinary share of RBZ in lieu of one share of DOTA Class A common stock, and each outstanding right of DOTA will be exchanged for one-tenth of an ordinary share of RBZ. Additionally, the holders of an outstanding unit purchase options of DOTA which represents the right to acquire an aggregate of 0.5 million shares of Class A common stock, 0.25 million warrants and rights to purchase 0.05 million shares of Class A common stock of DOTA will exchange such unit purchase options for unit purchase options of RBZ which represent the right to acquire an aggregate of 0.55 million ordinary shares and 0.25 million warrants of RBZ upon consummation of the business combination. On closing, existing equity holders, option holders and warrant holders of Reebonz will roll all of their equity into RBZ resulting in ownership of RBZ that is currently anticipated to be approximately 70% by Reebonz shareholders and the holders of in-the-money Reebonz options assuming that no DOTA public shareholders redeem their DOTA shares in connection with the closing. The value of the securities deliverable by RBZ to Reebonz shareholders and holders of in-the-money Reebonz options is based on an enterprise value of Reebonz of $252 million subject to adjustment for the net debt of Reebonz and its subsidiaries. Additionally, the Reebonz shareholders and RBZ management may receive up to a total of 2.5 million additional shares from RBZ after the closing pursuant to an earnout if certain consolidated revenue and RBZ share price targets are met in calendar years 2019 and 2020. As a result, RBZ will become a new public company and each of DOTA and Reebonz will become a wholly-owned subsidiary of RBZ. The former security holders of DOTA and Reebonz will become security holders of RBZ. The Reebonz sellers and holders of the in-the-money Reebonz options (for such purpose only treating such options as if exercised on a net basis) will own approximately 71.9% of the ordinary shares of RBZ and the former DOTA stockholders will own approximately 28.1% of RBZ’s outstanding ordinary shares provided that such numbers also include 10% of the RBZ ordinary shares otherwise issuable to the Reebonz sellers at the closing of the business combination, which will not be issued at such time and will be reserved as holdback shares to serve as indemnification and only issued on the first anniversary of the Closing to the extent not used for indemnification purposes and exclude any potential earnout shares issued pursuant to the management performance plan. DOTA’s units, Class A common stock, warrants and rights are currently listed on the Nasdaq Capital Market under the symbols “DOTAU,” “DOTA,” “DOTAW” and “DOTAR,” respectively. DOTA Holdings will apply for listing, to be effective at the time of the business combination, of its ordinary shares and warrants on NASDAQ under the proposed symbols RBZ and RBZW, respectively. RBZ will not have units traded following consummation of the business combination. As of September 13, 2018, the sponsor of Draper is expected to deposit into the Draper’s trust account $0.58 million representing $0.10 per public share, by September 19, 2018, in order to extend the period of time Draper has to consummate a business combination by three months to December 19, 2018. Draper will intimate by September 20, 2018 whether such funds have been deposited into the trust account. 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”. There are no termination fees in connection with the termination of the agreement. 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. The Board of Directors and Executive Officers of DOTA shall be the Board of Directors and Executive Officers of RBZ. The directors of RBZ will be Samuel Lim, Chua Kee Lock, and Jeff Richards, who were designated by Reebonz, and Roderick Perry and Ali Erfan, who were designated by DOTA. Samuel Lim will serve as Class III Director, Chairman and Chief Executive Officer, Chua Kee Lock will serve as Class II Director, Jeff Richards and Ali Erfan will serve as Class I Director, Roderick Perry will serve as Class III Director, Daniel Lim will serve as Chief Product Officer, Benjamin Han will serve as Chief Marketing Officer, Torres Oey will serve as Chief Technology Officer, Nupur Sadiwala will serve as Chief Financial Officer, Cassie Mah will serve as Chief Operating Officer, Head of Sales, Lynn Ng will serve as Head of Operations and Evelyn Lim will serve as Financial Controller. After the consummation of the business combination, principal executive office will be that of Reebonz located in Singapore. The transaction is subject to the conditions, including approval of the business combination and related matters by the stockholders of DOTA, expiration of any waiting period under applicable antitrust laws, receipt of requisite regulatory approvals and specified third party consents, DOTA having at least $5 million in net tangible assets as of the closing, election or appointment of members to RBZ’s Board of Directors, effectiveness of the Registration Statement and assumption by RBZ of the Reebonz convertible securities. On August 30, 2018, the DOTA board of directors held a meeting, at which the board approved the Business Combination Agreement, related agreements and transactions contemplated thereby. On September 4, 2018, the Reebonz board of directors and shareholders of Reebonz approved the business combination agreement, related agreements and transactions contemplated thereby via written consent. DOTA’s board of directors believes that the business combination proposal and the other proposals to be presented at the special meeting are fair to and in the best interest of DOTA’s stockholders and unanimously recommends that its stockholders vote for the proposals. The deal is currently expected to close in the fourth quarter of 2018. Stuart Neuhauser and Douglas Ellenoff of Ellenoff Grossman & Schole LLP and Maples and Calder (Cayman) acted as legal advisors, Arun Batavia of Exit Strategy Partners, LLC, Cowen and Company, LLC and EarlyBirdCapital, Inc. acted as financial advisors, Mark Zimkind of Continental Stock Transfer & Trust Company, Inc. acted as transfer agent, Morrow Sadali LLC and Advantage Proxy acted proxy solicitor and Marcum LLP acted as accountant to DOTA. S. Sivanesan of Dentons Rodyk & Davidson LLP, Dentons US LLP and Dentons Cayman Islands and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisors and Ernst & Young LLP acted as accountant to Reebonz. Reebonz Limited ("Reebonz") completed the acquisition of Draper Oakwood Technology Acquisition, Inc. (NasdaqCM:DOTA) from a group of shareholders in a reverse merger transaction on December 19, 2018. Pursuant to the business combination, each outstanding share of common stock of Draper Oakwood Technology Acquisition has became one ordinary share of Reebonz Holding Limited, each outstanding warrant of Draper Oakwood Technology Acquisition has become one warrant of Reebonz Holding Limited, each outstanding right of Draper Oakwood Technology Acquisition has been converted into one-tenth of an ordinary share of Reebonz Holding Limited and each outstanding unit of Draper Oakwood Technology Acquisition has been converted into one and one-tenth ordinary share of Reebonz Holding Limited and one half warrant of Reebonz Holding Limited. In connection with the business combination, Reebonz Holding Limited issued 17.32 million ordinary shares to the prior security holders of Reebonz Limited, resulting in such prior securityholders owning approximately 75% of the outstanding ordinary shares of Reebonz Holding. Reebonz Holding Limited will be led by Reebonz Limited's Chief Executive Officer and Co-Founder Samuel Lim, as Chairman and Chief Executive Officer. The members of Reebonz Holding comprised of Samuel Lim, Chua Kee Lock, Jeff Richards, Roderick Perry, Ali Erfan. The transaction was approved by the shareholders of Draper Oakwood Technology Acquisition.