---
schema_version: "secwatch.filing_event.v1"
accession: "0001880613-25-000153"
form_type: "8-K"
ticker: "DRCT"
cik: "0001880613"
company_name: "Direct Digital Holdings, Inc."
filed_at: "2025-12-05T23:59:59+00:00"
generated_at: "2026-05-16T14:19:56.247656+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Direct Digital Holdings sells 12.6M shares unregistered for $1.32M to New Circle

## Summary
- Sold 12,600,000 Class A common shares to New Circle Principal Investments LLC since Sept 30, 2025, for $1,324,380 cash.
- Sales exceed 5% of shares outstanding as of Sept 30, 2025, triggering 8-K filing.
- Shares issued under pre-existing Equity Reserve Facility; New Circle is accredited investor.
- Exemption from registration under Section 4(a)(2) of Securities Act.

## SEC filing metadata
- accession: 0001880613-25-000153
- form_type: 8-K
- ticker: DRCT
- cik: 0001880613
- company_name: Direct Digital Holdings, Inc.
- filed_at: 2025-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1880613/000188061325000153/0001880613-25-000153-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1880613/000188061325000153/drct-20251201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001880613-25-000153
- JSON: https://secwatch.observer/filing/0001880613-25-000153.json
- Plain text: https://secwatch.observer/filing/0001880613-25-000153.txt

## Key facts
- Equity Issuances
  Direct Digital Holdings, Inc. issued 12,600,000 shares of common stock to New Circle Principal Investments LLC for $1,324,380 in cash consideration.
  - Security: common stock
  - Shares: 12,600,000 shares
  - Purchaser: New Circle Principal Investments LLC
  - Consideration: $1,324,380 in cash consideration
  source text: the Company sold 12,600,000 shares of its Class A Common Stock, par value $0.001 per share (the “ Class A Common Stock ”) for an aggregate of $1,324,380 in cash consideration
  evidence_url: https://www.sec.gov/Archives/edgar/data/1880613/000188061325000153/0001880613-25-000153-index.htm

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