DraftKings Announces Proposed Public Offering of Class A Common Stock
June 16 2020 - 5:27PM
DraftKings Inc. (Nasdaq: DKNG) (“DraftKings”) 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.
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 also be obtained by contacting
either of the following underwriters: 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; or 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.
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 a registration
statement on Form S-1 (the “Registration Statement”), which has
been filed with the SEC but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time the Registration Statement becomes effective.
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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