Form 8-K · Current Report · Filed 2025-03-04
DraftKings Closes $600M Upsized Term Loan Facility
DraftKings Inc. announced the closing of its Term Loan B facility in an aggregate principal amount of $600 million, upsized from the originally planned $500 million due to strong demand. The Term Loan B, maturing in March 2032, carries an interest rate of SOFR plus 1.75% and will be used for general corporate purposes. The loan was offered at 99.50% of par and is required to be repaid at 1.00% of its aggregate principal amount per annum. DraftKings intends to use the net proceeds for general corporate purposes.
- Filer
- DraftKings Inc. DKNG · NASDAQ
- Filed
- Accession
- 0001104659-25-020044
- CIK
- 0001883685
- Signal
- Medium impactConsumer Cyclical
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Creation of a Direct Financial Obligation
Regulation FD Disclosure
Financial Statements and Exhibits
Market reaction
Close before filing
$41.59
Next session
+4.4%
Since filing
-43.5%
Latest close
$23.48
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from DKNG reporting the same item, with the next session's move:
Exhibits (2)
About DraftKings Inc.
DraftKings Inc. is a digital sports entertainment and gaming company offering a range of services, including daily fantasy sports, sports betting, and iGaming. The company operates as a multi-channel provider, enabling sports enthusiasts and gamers to engage in digital contests, wager on a variety of sports events, and enjoy casino-style gaming in regulated markets. DraftKings serves a wide audience, from casual sports fans to avid gamblers, providing a platform that combines innovative technology with a seamless user experience. One of DraftKings' primary functions is to facilitate daily and weekly fantasy sports competitions where users build virtual teams from professional athletes and compete based on the real-life performance of those athletes. Additionally, the company's sportsbook and online casino offerings make it a significant player in the rapidly expanding online gambling industry. DraftKings holds a strategic position in the sports entertainment sector due to its robust tech-driven solutions and expansive market reach, leveraging partnerships with sports leagues, teams, and media companies to continually enhance its product offerings and grow its user base.
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