---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-003663"
form_type: "8-K"
ticker: "DRCT"
cik: "0001880613"
company_name: "Direct Digital Holdings, Inc."
filed_at: "2025-02-04T23:59:59+00:00"
generated_at: "2026-05-27T03:38:34.646307+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Direct Digital Holdings sells 389,351 shares (~5%+) to New Circle for $503K in unregistered transaction

## Summary
- Sold 389,351 shares of Class A common stock to New Circle Principle Investments LLC for $503,394 cash (after $20,975 discount).
- Sales occurred Jan 7–29, 2025, exceeding 5% of outstanding shares as of Jan 7, 2025.
- Issued under previously disclosed Equity Reserve Facility (Share Purchase Agreement) relying on Section 4(a)(2) exemption.
- New Circle represented as an accredited investor under Rule 501(a) of Regulation D.

## SEC filing metadata
- accession: 0001628280-25-003663
- form_type: 8-K
- ticker: DRCT
- cik: 0001880613
- company_name: Direct Digital Holdings, Inc.
- filed_at: 2025-02-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1880613/000162828025003663/0001628280-25-003663-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1880613/000162828025003663/drct-20250129.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-003663
- JSON: https://secwatch.observer/filing/0001628280-25-003663.json
- Plain text: https://secwatch.observer/filing/0001628280-25-003663.txt

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