DraftKings Announces Pricing of Public Offering of Class A Common Stock
October 07 2020 - 7:00AM
DraftKings Inc. (Nasdaq: DKNG) (“DraftKings”) announced today the
pricing of its previously announced underwritten public offering of
32 million shares of its Class A common stock. DraftKings will sell
16 million shares of its Class A common stock and certain selling
stockholders of DraftKings will sell 16 million shares of Class A
common stock, at a public offering price of $52.00 per share for a
total offering size of $1.664 billion. DraftKings will not receive
any proceeds from the sale of Class A common stock offered by the
selling stockholders. DraftKings has granted the underwriters a
30-day option to purchase up to 4.8 million additional shares of
Class A common stock.
DraftKings intends to use the net proceeds it
receives from the offering for general corporate purposes.
Credit Suisse and Goldman Sachs & Co. LLC
are acting as lead joint book-running managers and as
representatives of the underwriters for the offering. BofA
Securities, Morgan Stanley, UBS Investment Bank, Canaccord Genuity,
Evercore ISI and Oppenheimer & Co. Inc. are also acting as
joint passive bookrunners for the offering. Craig-Hallum Capital
Group, Deutsche Bank Securities, Macquarie Capital, Needham &
Company, Northland Capital Markets, Rosenblatt Securities, The
Benchmark Company, Truist Securities and Wolfe Capital Markets and
Advisory are acting as co-managers for the offering.
The offering will be made only by means of a
prospectus. A preliminary prospectus related to the offering has
been filed with the Securities and Exchange Commission (the “SEC”)
and is available on the SEC’s website at http://www.sec.gov. Copies
of the preliminary prospectus may be obtained by contacting either
of the following underwriters: Credit Suisse Securities (USA) LLC,
Attention: Prospectus Department, 6933 Louis Stephens Drive,
Morrisville, North Carolina 27560, by phone at (800) 221-1037 or by
email at usa.prospectus@credit-suisse.com; or Goldman Sachs &
Co. LLC, Attention: Prospectus Department, 200 West Street, New
York, New York 10282, by phone at (866) 471‐2526 or by email at
prospectus-ny@ny.email.gs.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any securities in
any jurisdiction to any person to whom it is unlawful to make an
offer, solicitation or sale in such jurisdiction. The offering will
be made under a combined prospectus filed as part of the
registration statement on Form S-1, as amended, that was declared
effective by the SEC on October 6, 2020 and is available on the
SEC’s website at http://www.sec.gov.
Forward-Looking Statements
Certain statements made in this release are
“forward looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,”
“will,” “should,” “future,” “propose” and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside DraftKings’ control, that could
cause actual results or outcomes to differ materially from those
discussed in the forward-looking statements. For a discussion of
additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see DraftKings’ Securities and Exchange Commission
filings. DraftKings does not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Media ContactInvestors:
investors@draftkings.com
Media: media@draftkings.com
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