DraftKings seeks to boost $576m in new share providing

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New York-listed sports activities betting operator and provider DraftKings has launched an underwritten public providing of 33m shares of its Class A standard inventory because it appears to be like to boost as a lot as $576m.

The brand new providing consists of 14m shares provided by DraftKings and 19m shares provided by sure promoting stockholders of DraftKings. The proposed most providing worth per share is $36.73, 12 per cent beneath the corporate’s closing worth of $41.79 on 15 June.

The promoting stockholders […]

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