thedocyard Limited (ASX:TDY) acquired LockBox Technologies Pty Ltd for AUD 2.1 million on July 6, 2020. The consideration to acquire LockBox Technologies comprises an issue of 11,968,165 fully paid TDY shares with a market value of AUD 2 million and 7,943,135 options to acquire new fully paid TDY shares on a 1 for 1 basis. thedocyard has agreed to grant a total of 15,000,000 options as part of the consideration for the acquisition however given constraints on thedocyard’s capacity to issue equity securities the balance of 7,056,865 options will only be granted if shareholder approval for that grant is obtained at an extraordinary general meeting. The exercise price of all options issued as consideration will be the same as the price per share of the consideration shares to acquire all of the issued share capital of LockBox Technologies. thedocyard will shortly issue a notice of meeting to convene an extraordinary general meeting of its Shareholders (EGM) to approve the grant of 7,056,865 options to acquire fully paid ordinary shares in thedocyard and other associated resolutions. Of the 11,968,165 TDY shares issued as consideration under the acquisition, 7,053,295 are subject to voluntary escrow arrangements of 6 months and 1,805,996 are subject to voluntary escrow arrangements of 12 months. None of the options granted in consideration can be exercised until July 4, 2021 and expire on July 4, 2023. thedocyard advises that it is considering options to raise capital by way of issuance of equity securities. thedocyard will provide further updates as required. Mark Burger, Michael Bowen, Michael Ng, Simon Rimmelzwaan and Mariana Estifo of DLA Piper acted as legal advisor to thedocyard. thedocyard Limited (ASX:TDY) completed the acquisition of LockBox Technologies Pty Ltd on July 6, 2020.