{"schema_version":"secwatch.filing_event.v1","accession":"0001880613-25-000088","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2025-08-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.502022+00:00","generated_at":"2026-05-17T14:53:30.358998+00:00","sec_items":["3.02"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"confidence":"high","headline":"Direct Digital Holdings sold 1M shares to New Circle for $439,531 under equity facility","bullets":["Sold 1,000,000 Class A common shares for $439,531 in cash, net of $18,359 discount.","Purchaser is New Circle Principal Investments LLC, an accredited investor, under previously disclosed Equity Reserve Facility.","Sales triggered 8-K filing because aggregate shares since May 16, 2025 exceeded 5% of outstanding.","Securities issued in reliance on Section 4(a)(2) exemption from registration requirements."],"urls":{"canonical":"https://secwatch.observer/filing/0001880613-25-000088","json":"https://secwatch.observer/filing/0001880613-25-000088.json","markdown":"https://secwatch.observer/filing/0001880613-25-000088.md","text":"https://secwatch.observer/filing/0001880613-25-000088.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000088/0001880613-25-000088-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000088/drct-20250806.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T14:53:30.358998+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}