Sternlicht Blank-Check Firm Files for $400 Million IPO [Yahoo! Finance News]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance News
) -- A special purpose acquisition company co-founded by billionaire real estate executive Barry Sternlicht is planning to raise about $400 million in an initial public offering.Jaws Acquisition Corp. plans to issue 40 million units at $10 apiece, according to a filing Tuesday with the U.S. Securities and Exchange Commission. It intends to target companies in growth-oriented industries and not compete with Sternlicht’s Starwood Capital Group, which focuses on real estate, lodging, oil and gas and energy infrastructure, according to the filing, which confirmed a report.Jaws’s founders are its chairman, Sternlicht, and Chief Executive Officer Joe Dowling, who also runs Brown University’s endowment. The company counts Doug Ostrover as a director. Ostrover was a founder of Blackstone Group Inc.’s credit arm, GSO Capital Partners.Going public by merging with blank-check companies has become popular for companies hoping to access capital in a volatile stock market. Fantasy sports operator
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DKNG
Earnings
- 2/15/24 - Beat
DKNG
Sec Filings
- 4/22/24 - Form 144
- 4/16/24 - Form PX14A6G
- 4/3/24 - Form 4
- DKNG's page on the SEC website