Thursday, July 02, 2020

Equity Corporate Actions Alert #2020 - 122
Information Regarding the Redemption of the Public Warrants of DraftKings, Inc. (DKNGW)


  • Industry Announcement

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On July 1, 2020, DraftKings, Inc. announced the extension of the previously announced redemption date of the company’s outstanding warrants (other than the private placement warrants). As a result of this extension, holders of the public warrants will have until 5:00 p.m. EST on July 2, 2020 to exercise their warrants for an exercise price of $11.50. There is a two day guaranty of delivery period which ends on July 7, 2020 at 5:00 p.m. EST.

Any public warrants that are not exercised by July 2, 2020 at 5:00 p.m. EST will be subject to redemption at $0.01 per public warrant. The public warrants (DKNGW) will be halted shortly after the regular market session close at 4:00 p.m. on the redemption date of July 2, 2020. Private placement warrants are not subject to this redemption. Any outstanding private placement warrants will remain outstanding and exercisable or transferable in accordance with the terms of the Warrant Agreement and will continue to be listed on Nasdaq. Effective Monday, July 6, 2020, the Private Placement Warrants will begin to trade under a new symbol (DKNGZ) and under a new CUSIP number (26142R120). Trading effective July 6, 2020 should be reflective of the private placement warrants only. The details are as follows:

Company Name/Issue: DraftKings, Inc. Warrant
Current CUSIP: 26142R112
New CUSIP: 26142R120
Current Symbol: DKNGW
New Symbol: DKNGZ
Marketplace Effective Date: July 6, 2020

If you would like to register as a market maker in DKNGZ contact Nasdaq Trading Services at +1 212 231 5100.

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