DraftKings Inc. Files 8-K on Material Agreement

TL;DR

DKNG filed an 8-K for a material agreement and financial obligation. Watch for details.

AI Summary

On March 4, 2025, DraftKings Inc. filed an 8-K report detailing a material definitive agreement. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The report includes information related to Regulation FD Disclosure and Financial Statements and Exhibits.

Why It Matters

This filing signals a significant new agreement or financial commitment for DraftKings, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a financial obligation, which could carry inherent risks depending on the nature of the agreement.

Key Players & Entities

• DraftKings Inc. (company) — Registrant
• March 4, 2025 (date) — Date of Report
• Nevada (jurisdiction) — State of Incorporation
• 222 Berkeley Street (address) — Principal Executive Offices
• Boston, MA (location) — Principal Executive Offices

FAQ

From the Filing

0001104659-25-020044.txt : 20250304 0001104659-25-020044.hdr.sgml : 20250304 20250304092244 ACCESSION NUMBER: 0001104659-25-020044 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20250304 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250304 DATE AS OF CHANGE: 20250304 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: 25701805 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 tm258053d1_8k.htm FORM 8-K false 0001883685 0001883685 2025-03-04 2025-03-04 iso4217:USD xbrli:shares iso4217:USD xbrli:shares     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): March 4, 2025     DRAFTKINGS INC. (Exact name of registrant as specified in its charter)     Nevada 001-41379 87-2764212 (State or other jurisdiction of incorporation) (Commission File Number) (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 March 4, 2025 (the “Closing Date”), DraftKings Inc. (the “Company”) and certain of its subsidiaries entered into a first amendment (the “Amendment”) to its credit agreement, dated as of November 7, 2024 (as amended by the Amendme