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DraftKings announces proposed public offering of Class A common stock

16 Jun 2020

(PRESS RELEASE) -- DraftKings Inc. announced today that it has commenced an underwritten public offering of 33 million shares of its Class A common stock, consisting of 14 million shares offered by DraftKings and 19 million shares offered by certain selling stockholders of DraftKings. The selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 4.95 million shares of Class A common stock. DraftKings will not receive any proceeds from the sale of Class A common stock offered by the selling stockholders. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

DraftKings intends to use the net proceeds it receives from the offering for general corporate purposes.

Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers and as representatives of the underwriters for the offering.
 
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