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Diamond Eagle Acquisition Corp., Led by Media Executive Jeff Sagansky and Founding Investor Harry Sloan, Announces Pricing of $400 million IPO Business Wire Business WireMay 10, 2019 LOS ANGELES--(BUSINESS WIRE)--
Diamond Eagle Acquisition Corp. (DEACU), the fifth public acquisition vehicle led by media executive Jeff Sagansky and founding investor Harry Sloan, today announced the pricing of a $400 million initial public offering. Each unit issued in the initial public offering consists of one share of Class A common stock and one-third of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per whole share. The units will be listed on The Nasdaq Capital Market and trade under the ticker symbol “DEACU.” Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on The Nasdaq Capital Market under the symbols “DEAC” and “DEACW,” respectively.
Diamond Eagle Acquisition Corp. was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Diamond Eagle’s efforts to identify a prospective initial business combination target will not be limited to a particular industry, sector or geographic region. While Diamond Eagle may pursue an initial business combination opportunity in any industry or sector, it intends to capitalize on the ability of its management team to identify, acquire and operate a business or businesses that can benefit from its management team’s established global relationships and operating experience. Diamond Eagle’s management team has extensive experience in identifying and executing strategic investments globally and has done so successfully in a number of sectors, including media and entertainment.
Diamond Eagle’s sponsor is Eagle Equity Partners, LLC, of which Mr. Sagansky is a Member. Joining him in the management of the company is President, Chief Financial Officer and Secretary, Eli Baker, who served as President, Chief Financial Officer and Secretary of one of Mr. Sagansky’s prior public acquisition vehicles, Vice President, General Counsel and Secretary of another of Mr. Sagansky’s prior public acquisition vehicles and as a director of another of Mr. Sagansky’s prior public acquisition vehicles. Harry E. Sloan, who co-led four prior public acquisition vehicles with Mr. Sagansky, is a founding investor in Diamond Eagle alongside the sponsor. Diamond Eagle’s sponsor and Mr. Sloan have severally committed, pursuant to a written agreement, to purchase an aggregate of 5,666,667 private placement warrants (or 6,366,667 private placement warrants, if the over-allotment option is exercised in full), each exercisable to purchase one share of Class A common stock at $11.50 per share, at a price of $1.50 per warrant, or $8,500,000 in the aggregate (or $9,550,000, if the over-allotment option is exercised in full), in a private placement that will occur simultaneously with the closing of this offering. Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are acting as the representatives of the underwriters for the offering and Northland Capital Markets served as a manager.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Deutsche Bank Securities, 60 Wall Street, New York, NY 10005, Attn: Prospectus Group, telephone: 800-503-4611, or by emailing prospectus.CPDG@db.com; or from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department, by telephone at 866-471-2526 or by emailing Prospectus-ny@ny.email.gs.com.
DraftKings Closes Business Combination and Will Begin Trading on the Nasdaq Stock Exchange
Investor Call Scheduled for Friday, April 24 at 8AM EDT
BOSTON, April 23, 2020 (GLOBE NEWSWIRE) — DraftKings Inc., a digital sports entertainment and gaming company known for its industry-leading daily fantasy sports and mobile sports betting platforms, today announced that it has completed its business combination (the “Business Combination”) with SBTech (Global) Limited (“SBTech”), an international provider of cutting-edge sports gaming technologies, and Diamond Eagle Acquisition Corp. (“Diamond Eagle”) (Nasdaq: DEAC). The Business Combination, which was approved on April 23, 2020, by DEAC’s stockholders, creates the only vertically integrated pure-play sports betting and online gaming company based in the United States. Beginning April 24, 2020, DraftKings’ shares of Class A common stock will trade on the Nasdaq Global Select Market under the ticker symbol “DKNG” and its warrants will trade on Nasdaq under the ticker symbol “DKNGW”.
---- Retail Sports Betting Begins September 30 with Foxwoods Resort Casino and DraftKings 2021-09-29 11:30:00 AM ET (GlobeNewswire)
The Mashantucket Pequot Tribal Nation and DraftKings Inc. (Nasdaq: DKNG) today announce retail sports betting in Connecticut will begin on September 30 at Foxwoods Resort Casino. Players will be able to place bets at the temporary DraftKings Sportsbook at Foxwoods - located at the Ultimate Race Book in Rainmaker Casino - in addition to betting kiosks located across the resort. Statewide, off-reservation online sports betting and iGaming is expected to launch in early October pending regulatory approvals.
The DraftKings Sportsbook at Foxwoods gives players the opportunity to place wagers on a variety of betting markets across professional and collegiate sports via kiosks and in-person. In the coming weeks, DraftKings and Foxwoods will announce the opening of their permanent retail sportsbook, currently in the final stages of construction.
"Today we celebrate a new era for our Mashantucket Pequot Tribal Nation, sports fans, Foxwoods guests and Connecticut residents," Rodney Butler, Mashantucket Pequot Tribal Chairman said. "We thank Governor Lamont and his administration, regulators, and the many lawmakers who helped pave the way for legal sports betting and expanded gaming in the state. Their collaboration and hard work has allowed trusted gaming operators like our Tribe and DraftKings to help lead innovation across Connecticut. With NFL season in full force, it's game on, and we look forward to a successful launch."
Jeff Sagansky and former MGM boss Harry Sloan are launching Flying Eagle Acquisition Corp, the pair’s sixth special-purpose acquisition company. The new entity’s IPO, launching Friday, has been priced at $10 per unit for 60,000,000 units, which each consisting of one share of Class A common stock and one-fourth of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per share.
The new units will be listed on the New York Stock Exchange under the ticker symbol “FEAC.U.” The company said that after the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed under the symbols “FEAC” and “FEAC WS,” respectively. The offering is expected to close March
According to the complaint, Flying Eagle Acquisition Corp., a special purpose acquisition corporation, and Skillz consummated their merger on December 16, 2020. The merger valued Skillz at $3.5 billion. This valuation, however, was overstated as it relied on revenue projections that had little basis in reality. A substantial portion of Skillz's revenue is generated through Skillz's own cash, which it provides to its gamer customers in the form of Bonus Cash incentives. Skillz's gamer customers recycle these funds back into the Company as entrance fees and Skillz records it as revenue.
Jeff Sagansky & Harry Sloan Price Sixth Special-Purpose IPO At $600M
By Patrick Hipes March 5,2020
Jeff Sagansky and former MGM boss Harry Sloan are launching Flying Eagle Acquisition Corp, the pair’s sixth special-purpose acquisition company. The new entity’s IPO, launching Friday, has been priced at $10 per unit for 60,000,000 units, which each consisting of one share of Class A common stock and one-fourth of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per share.
The new units will be listed on the New York Stock Exchange under the ticker symbol “FEAC.U.” The company said that after the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed under the symbols “FEAC” and “FEAC WS,” respectively. The offering is expected to close March 10.
Sloan is listed as Chief Executive Officer and Chairman of the company, and Eli Baker is President, Chief Financial Officer and Secretary. Both have previously teamed with Sagansky on previous blank check companies, created to “effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.”
Watch on Deadline In December, the duo’s fifth blank-check company, Diamond Eagle Acquisition Corp, was part of three-way deal that will see sports betting giant DraftKings go public as part of a $3.3 billion merger with SBTech and Diamond Eagle.
In addition to MGM, Sloan has been involved with New World Entertainment, SBS Broadcasting, and Lionsgate Films over the course of his career. Sagansky, in addition to serving as entertainment president at CBS in the early 1990s, also had executive stints at Tri-Star and NBC.
Goldman Sachs and Deutsche Bank Securities are acting as the representatives of the underwriters for the Flying Eagle Acquisition Corp offering.
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READ MORE ABOUT: DRAFTKINGS FLYING EAGLE ACQUISITION CORP HARRY SLOAN JEFF SAGANSKY
Jeff Sagansky, Harry Sloan Partner on $600 Million IPO
Veteran Hollywood executives Jeff Sagansky and Harry Sloan are launching Flying Eagle Acquisition Corp. with a $600 million initial public offering.
It’s the sixth public acquisition vehicle since 2011 launched by Sagansky and Sloan. These kind of acquisition companies have gained in popularity in recent years as a means for investors to participate in new players in the media and digital sector — particularly with rivals emerging to Netflix in streaming technology.
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