{"schema_version":"secwatch.filing_event.v1","accession":"0001880613-25-000116","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2025-10-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.969106+00:00","generated_at":"2026-05-17T04:57:52.592131+00:00","sec_items":["3.02"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Direct Digital Holdings sells 2.4M shares for $755K to New Circle under equity facility","bullets":["Sold 1.4M shares for $451,983 (9/16-9/26) and 1M shares for $303,400 (9/26-9/30).","Sales exceed 5% of outstanding shares, triggering Form 8-K filing requirement.","Purchaser New Circle is an accredited investor; shares exempt under Section 4(a)(2).","Part of previously disclosed Equity Reserve Facility with New Circle."],"urls":{"canonical":"https://secwatch.observer/filing/0001880613-25-000116","json":"https://secwatch.observer/filing/0001880613-25-000116.json","markdown":"https://secwatch.observer/filing/0001880613-25-000116.md","text":"https://secwatch.observer/filing/0001880613-25-000116.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000116/0001880613-25-000116-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000116/drct-20250926.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:57:52.592131+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":[{"claim_id":"4a373da4e6acd29f927409bd223a75c8fe06cade","claim":"Direct Digital Holdings, Inc. issued 2,400,000 shares of common stock to New Circle Principal Investments LLC for aggregate of $451,983.","evidence_excerpt":"through September 26, 2025 , the Company sold 1,400,000 shares of its Class A Common Stock, par value $0.001 per share (the “Class A Common Stock”) for an aggregate of $451,983 in cash consideration after a total discount of $11,627. From September 26, 2025 to September 30, 2025, the Company sold an additional 1,000,000 shares of its Class A Common Stock","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000116/0001880613-25-000116-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"common stock"},{"label":"Shares","value":"2,400,000 shares"},{"label":"Purchaser","value":"New Circle Principal Investments LLC"},{"label":"Consideration","value":"aggregate of $451,983"}],"fact_type":"equity_issuance"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}