---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-001345"
form_type: "8-K"
ticker: "DRCT"
cik: "0001880613"
company_name: "Direct Digital Holdings, Inc."
filed_at: "2025-01-13T23:59:59+00:00"
generated_at: "2026-05-28T03:57:26.272969+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Direct Digital Holdings sells 800K shares of Class A common for ~$1.1M in unregistered deals

## Summary
- Dec 31, 2024 – Jan 6, 2025: sold 400K shares to New Circle for $620,371 cash (after $25,849 discount).
- Jan 6–7, 2025: sold additional 400K shares to New Circle for $488,145 cash (after $20,335 discount).
- Each tranche exceeded 5% of outstanding shares, triggering Item 3.02 disclosure.
- Shares issued under Equity Reserve Facility; relied on Section 4(a)(2) exemption for accredited investor.

## SEC filing metadata
- accession: 0001628280-25-001345
- form_type: 8-K
- ticker: DRCT
- cik: 0001880613
- company_name: Direct Digital Holdings, Inc.
- filed_at: 2025-01-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1880613/000162828025001345/0001628280-25-001345-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1880613/000162828025001345/drct-20250106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-001345
- JSON: https://secwatch.observer/filing/0001628280-25-001345.json
- Plain text: https://secwatch.observer/filing/0001628280-25-001345.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.