DraftKings 8-K: Equity Sales & Reg FD Disclosure
Ticker: DKNG · Form: 8-K · Filed: May 23, 2024 · CIK: 1883685
| Field | Detail |
|---|---|
| Company | Draftkings INC. (DKNG) |
| Form Type | 8-K |
| Filed Date | May 23, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, regulation-fd, disclosure
Related Tickers: DKNG
TL;DR
DKNG filed an 8-K for equity sales & Reg FD. Check for details.
AI Summary
DraftKings Inc. filed an 8-K on May 23, 2024, reporting on unregistered sales of equity securities and a Regulation FD disclosure. The filing also includes financial statements and exhibits, with the earliest event reported on May 22, 2024. The company, formerly known as New Duke Holdco, Inc., is incorporated in Nevada and headquartered in Boston, MA.
Why It Matters
This filing provides insight into DraftKings' equity transactions and regulatory disclosures, which can impact investor understanding of the company's financial activities and compliance.
Risk Assessment
Risk Level: low — This is a routine filing detailing equity sales and disclosures, not indicating immediate operational or financial distress.
Key Players & Entities
- DraftKings Inc. (company) — Registrant
- New Duke Holdco, Inc. (company) — Former company name
- May 23, 2024 (date) — Filing date
- May 22, 2024 (date) — Earliest event reported date
- 222 Berkeley Street (location) — Principal executive offices address
- Boston, MA (location) — Principal executive offices city and state
FAQ
What specific type of equity securities were sold in the unregistered sale?
The filing indicates 'Unregistered Sales of Equity Securities' as an item, but the specific details of the securities sold are not provided in the provided text.
What is the nature of the Regulation FD Disclosure mentioned in the filing?
The filing lists 'Regulation FD Disclosure' as an item, but the content of the disclosure is not detailed in the provided text.
When was DraftKings Inc. formerly known as New Duke Holdco, Inc.?
The date of the name change from New Duke Holdco, Inc. to DraftKings Inc. was September 17, 2021.
What is the IRS Employer Identification Number for DraftKings Inc.?
The IRS Employer Identification Number for DraftKings Inc. is 87-2764212.
What is the SIC code for DraftKings Inc.?
The Standard Industrial Classification (SIC) code for DraftKings Inc. is 7990, categorized under SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION.
Filing Stats: 777 words · 3 min read · ~3 pages · Grade level 11.7 · Accepted 2024-05-23 07:09:05
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share DKNG The Nasdaq Stock Mar
Filing Documents
- tm2414500d2_8k.htm (8-K) — 26KB
- tm2414500d2_ex99-1.htm (EX-99.1) — 13KB
- tm2414500d2_ex99-1img001.jpg (GRAPHIC) — 29KB
- tm2414500d2_ex99-1img002.jpg (GRAPHIC) — 2KB
- 0001104659-24-064516.txt ( ) — 259KB
- dkng-20240522.xsd (EX-101.SCH) — 3KB
- dkng-20240522_pre.xml (EX-101.PRE) — 22KB
- dkng-20240522_lab.xml (EX-101.LAB) — 33KB
- tm2414500d2_8k_htm.xml (XML) — 4KB
02 Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sale of Equity Securities. On May 22, 2024, DraftKings Inc., a Nevada corporation (the " Company " or " DraftKings "), issued 7,507,817 shares of its Class A common stock, par value $0.0001 per share (such issuance, the " Stock Consideration "), in connection with the consummation of the transactions contemplated by the agreement and plan of merger and plan of reorganization, dated as of February 11, 2024, by and among DraftKings, JackPocket Inc., a Delaware corporation (" Jackpocket "), DraftKings Holdings Inc., a Nevada corporation and a direct wholly-owned subsidiary of DraftKings (" DK HoldCo "), Fortune Merger Sub Inc., a Delaware corporation and a direct wholly-owned subsidiary of DK HoldCo, Fortune Merger Sub LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of DK HoldCo, and Shareholder Representative Services LLC, a Colorado limited liability company, solely in its capacity as representative, agent and attorney-in-fact of the Jackpocket securityholders (the " Transactions "). The Stock Consideration was issued in respect of Jackpocket capital stock held by accredited investors in reliance upon the exemption from registration afforded by Section 4(a)(2) and Rule 506 promulgated under the Securities Act of 1933, as amended (the " Securities Act "). Shares of Jackpocket capital stock held by non-accredited investors received additional cash consideration in respect of their shares of Jackpocket capital stock in lieu of Stock Consideration, and shares of Jackpocket capital stock held by accredited investors received consideration reflecting a corresponding reduction in cash consideration and increase in Stock Consideration in respect of their shares of Jackpocket capital stock.
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On May 23, 2024, DraftKings issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing, among other things, the consummation of the Transactions. The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in such filing. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in this Item 7.01, including Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number 99.1 Press Release, dated as of May 23, 2024, issued by DraftKings Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DRAFTKINGS INC. Date: May 23, 2024 By: /s/ R. Stanton Dodge Name R. Stanton Dodge Title: Chief Legal Officer and Secretary