DraftKings Reports Material Agreement, Financials, and Equity Sales

TL;DR

**DraftKings just dropped an 8-K about a material agreement, financial results, and unregistered equity sales from February 11th!**

AI Summary

DraftKings Inc. filed an 8-K on February 15, 2024, reporting an event that occurred on February 11, 2024. The filing indicates an "Entry into a Material Definitive Agreement," "Results of Operations and Financial Condition," and "Unregistered Sales of Equity Securities." The company, incorporated in Nevada with IRS Employer Identification No. 87-2764212, is headquartered at 222 Berkeley Street, Boston, MA 02116.

Why It Matters

This filing signals significant corporate actions by DraftKings, potentially impacting its financial structure, operational strategy, and future equity value for investors.

Risk Assessment

Risk Level: medium — The filing mentions 'Unregistered Sales of Equity Securities' which could dilute existing shareholder value, but also 'Entry into a Material Definitive Agreement' and 'Results of Operations and Financial Condition' which could be positive.

Key Numbers

• 001-41379 — Commission File Number (SEC filing identifier for DraftKings Inc.)
• 87-2764212 — IRS Employer Identification No. (Tax identification for DraftKings Inc.)
• 20240215 — Filed As Of Date (Date the 8-K was officially filed.)
• 20240211 — Conformed Period of Report (Date of the earliest event reported in the 8-K.)
• 137 — Public Document Count (Number of documents in the filing.)

Key Players & Entities

• DraftKings Inc. (company) — Registrant
• February 15, 2024 (date) — Date of Report
• February 11, 2024 (date) — Date of earliest event reported
• Nevada (company) — State of incorporation for DraftKings Inc.
• 87-2764212 (dollar_amount) — IRS Employer Identification No. for DraftKings Inc.

FAQ

From the Filing

0001883685-24-000007.txt : 20240215 0001883685-24-000007.hdr.sgml : 20240215 20240215162727 ACCESSION NUMBER: 0001883685-24-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 137 CONFORMED PERIOD OF REPORT: 20240215 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Unregistered Sales of Equity Securities ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240215 DATE AS OF CHANGE: 20240215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DraftKings Inc. CENTRAL INDEX KEY: 0001883685 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41379 FILM NUMBER: 24644222 BUSINESS ADDRESS: STREET 1: 222 BERKELEY STREET CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: (617) 986-6744 MAIL ADDRESS: STREET 1: 222 BERKELEY STREET CITY: BOSTON STATE: MA ZIP: 02116 FORMER COMPANY: FORMER CONFORMED NAME: New Duke Holdco, Inc. DATE OF NAME CHANGE: 20210917 8-K 1 dkng-20240215.htm 8-K dkng-20240215 0001883685 FALSE 0001883685 2024-02-15 2024-02-15 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): February 15, 2024 (February 11, 2024) DRAFTKINGS INC. (Exact name of registrant as specified in its charter) Nevada (State or other jurisdiction of incorporation) 001-41379 (Commission File Number) 87-2764212 (IRS Employer Identification No.) 222 Berkeley Street , 5th Floor Boston , MA 02116 (Address of principal executive offices, including zip code) Registrant’s telephone number, including area code: ( 617 ) 986-6744 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.0001 per share DKNG The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 . Entry into a Material Definitive Agreement. On February 11, 2024, DraftKings Inc., a Nevada corporation (the “ Company ” or “ 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 (“ Merger Sub I ”), Fortune Mer