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DraftKings seeks to raise $576m in new share offering

18th June 2020 9:59 am GMT
DraftKings

New York-listed sports betting operator and supplier DraftKings has launched an underwritten public offering of 33m shares of its Class A common stock as it looks to raise as much as $576m.

The new offering consists of 14m shares offered by DraftKings and 19m shares offered by certain selling stockholders of DraftKings. The proposed maximum offering price per share is $36.73, 12 per cent below the company’s closing price of $41.79 on 15 June.

The selling stockholders [...]

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