DraftKings to Go Public in April Despite Lack of Pro Sports [Yahoo! Finance News]
Diamond Eagle Acquisition Corp. (DEACU)
Company Research
Source: Yahoo! Finance News
) -- DraftKings Inc., the sports-betting site stuck issuing credits as events get canceled worldwide, is driving ahead with plans to go public in April through a reverse merger.The Boston-based gaming and fantasy sports company agreed in December to a three-way deal valuing it at $3.3 billion with gaming technology provider SB and Diamond Eagle Acquisition Corp., a publicly traded special purpose acquisition company.“We are pleased that our registration statement was declared effective by the U.S. Securities and Exchange Commission this morning, which brings us another step closer to our goal of becoming a public company in April,” DraftKings Chief Financial Officer Jason Park said in an email.Shareholders of Diamond Eagle are now scheduled to vote on the deal on April 23 after the special meeting was earlier delayed due to the coronavirus pandemic.Diamond Eagle, a so-called blank check company, raised $400 million in an initial public offering in May. It said in a statement Wednesday
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