DraftKings goes public without many sports to bet on [MSN Money]
Diamond Eagle Acquisition Corp. (DEACU)
Company Research
Source: MSN Money
There are no baseball, basketball or hockey gam being played right now. Football, if the season starts on time, won't be ready to kick off until late August for college and September for the pros.© (Bnett Raglin/AP Imag for DraftKings)But DraftKings, a company that runs fantasy sports gam and lets people make legal wagers on sporting evts, said late Thursday it will go public on Wall Street Friday in this coronavirus-induced sports vacuum.Load ErrorDraftKings shar will trade on the Nasdaq under the ticker symbol "DKNG." The company did not go public through the traditional route of selling new stock via an initial public offering.It didn't ev list shar directly to an exchange like Slack and Spotify did to go public.Instead, DraftKings merged with a special purpose acquisition company (SPAC) named Diamond Eagle Acquisition Corp. SPACs are so-called "blank check" publicly traded firms with no or limited operating assets.By merging with a SPAC, a company don't have to go through as many
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