secwatch.observer — SEC 8-K summary
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Issuer:     DraftKings Inc. (DKNG)
CIK:        0001883685
Form:       8-K
Filed at:   2026-08-25T20:19:34+00:00
Accession:  0001104659-26-100812
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DraftKings closes $700M Term Loan B and $750M revolver, up from $600M
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- Closed $700M senior secured Term Loan B due 2033, upsized from $600M on strong demand.
- Term Loan B priced at 99.50% of par, SOFR + 2.00% margin, 1% annual amortization.
- Net proceeds to repurchase part of 0% Convertible Notes due 2028, plus general corporate purposes.
- New $750M revolving facility due 2031 replaces $500M facility previously maturing Nov 2029.
- Revolver rates: Term SOFR + 1.75%-2.25% or base rate + 0.75%-1.25%, based on leverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883685/000110465926100812/0001104659-26-100812-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883685/000110465926100812/tm2623632d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-100812

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer