BOSTON, (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) announced today the pricing of its previously announced underwritten public offering of 32 million shares of its Class A common stock. DraftKings will sell 16 million shares of its Class A common stock and certain selling stockholders of DraftKings will sell 16 million shares of Class A common stock, at a public offering price of $52.00 per share for a total offering size of $1.664 billion. DraftKings will not receive any proceeds from the sale of Class A common stock offered by the selling stockholders. DraftKings has granted the underwriters a 30-day option to purchase up to 4.8 million additional shares of Class A common stock.

DraftKings intends to use the net proceeds it receives from the offering for general corporate purposes.

Credit Suisse and Goldman Sachs & Co. LLC are acting as lead joint book-running managers and as representatives of the underwriters for the offering. BofA Securities, Morgan Stanley, UBS Investment Bank, Canaccord Genuity, Evercore ISI and Oppenheimer & Co. Inc. are also acting as joint passive bookrunners for the offering. Craig-Hallum Capital Group, Deutsche Bank Securities, Macquarie Capital, Needham & Company, Northland Capital Markets, Rosenblatt Securities, The Benchmark Company, Truist Securities and Wolfe Capital Markets and Advisory are acting as co-managers for the offering.