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DraftKings | 424B7: Prospectus

SEC announcement ·  Jun 8 04:57
Summary by Futu AI
DraftKings Inc. has announced the offering of 7,507,817 shares of its Class A common stock by selling stockholders. This move is part of a prospectus supplement related to a Merger Agreement dated February 11, 2024, involving DraftKings Inc., Fortune Merger Sub Inc., Fortune Merger Sub LLC, JackPocket Inc., and Shareholder Representative Services LLC. The offering is to satisfy registration rights granted to the selling stockholders under the agreement. DraftKings will not sell any shares nor receive proceeds from this offering. The selling stockholders may conduct the sale through public or private transactions at market prices or negotiated prices. The shares may be offered directly, through brokers, dealers, or agents. The selling stockholders will bear all selling expenses. DraftKings will cover the costs associated with the registration of the shares. The Class A common stock is traded on the NASDAQ under the ticker symbol 'DKNG', with the last reported sale price on June 6, 2024, being $37.56 per share. The date of the prospectus supplement is June 7, 2024.
DraftKings Inc. has announced the offering of 7,507,817 shares of its Class A common stock by selling stockholders. This move is part of a prospectus supplement related to a Merger Agreement dated February 11, 2024, involving DraftKings Inc., Fortune Merger Sub Inc., Fortune Merger Sub LLC, JackPocket Inc., and Shareholder Representative Services LLC. The offering is to satisfy registration rights granted to the selling stockholders under the agreement. DraftKings will not sell any shares nor receive proceeds from this offering. The selling stockholders may conduct the sale through public or private transactions at market prices or negotiated prices. The shares may be offered directly, through brokers, dealers, or agents. The selling stockholders will bear all selling expenses. DraftKings will cover the costs associated with the registration of the shares. The Class A common stock is traded on the NASDAQ under the ticker symbol 'DKNG', with the last reported sale price on June 6, 2024, being $37.56 per share. The date of the prospectus supplement is June 7, 2024.
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