DraftKings to raise a further $600m from shares

Proceeds will be used for general corporate purposes.
Proceeds will be used for general corporate purposes.

Shares will be available at a public offering price of $52.00 per share.

US.- DraftKings has added an extra $600m to its target income from a public offering in which 32m class A shares have been offered.

The company announced earlier this week that it hoped to raise $1.03bn in the public offering and use the proceeds for general corporate purposes.

The Boston-based betting giant has now declared that shares will be available at a public offering price of $52.00 per share, which equates to a total offering size of $1.66bn.

The amount added to the proposed maximum aggregate totals over $600m, but DraftKings will not receive any proceeds from the sale of stocks owned by shareholders. Such stocks account for half of the total amount.