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Technology Stocks : DraftKings, Inc. / Online Gambling
DKNG 30.59+1.5%Oct 31 9:30 AM EST
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From: Julius Wong10/5/2020 7:41:10 AM
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DraftKings readies stock offering; shares down 5%
Oct. 5, 2020 7:27 AM ET|About: DraftKings Inc. (DKNG)|By: Meghavi Singh, SA News Editor

DraftKings (NASDAQ: DKNG) commences underwritten public offering of 32M common stock, consisting of 16M shares being offered by DraftKings and 16M shares being offered by certain selling stockholders of DraftKings.

Underwriters have an option to purchase up to an additional 4.8M of the shares.

DraftKings will not receive any proceeds from the sale of Class A common stock offered by the selling stockholders.

Net proceeds will be used for general corporate purposes.

Shares are down 5% PM.
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