DraftKings Stock Offering Said to Price at $52 After 400% Surge
(Bloomberg) -- A stock offering in DraftKings Inc. has priced at $52 per share, people familiar with the matter said, allowing the company and selling holders including Patriots owner Robert Kraft to capitalize on this year's stock runup of more than 400%. Shares fell as much as 4.9% in postmarket trading.
The offering price represents an 8.4% discount to Tuesday's closing price. The offering launched on Oct. 5 premarket with DraftKings offering 16 million shares, and an additional 16 million shares offered by selling holders.
Credit Suisse and Goldman Sachs are underwriting the share sale.
Read more: DraftKings, Patriots' Kraft Cash In on Betting-Fueled Surge
©2020 Bloomberg L.P.
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