Form 8 (DD) - DraftKings Inc.

Source: RNS
RNS Number : 8900P
DraftKings Inc.
22 October 2021
 

FORM 8 (DD)

 

PUBLIC DEALING DISCLOSURE BY A PARTY TO AN OFFER OR PERSON ACTING IN CONCERT (INCLUDING DEALINGS FOR THE ACCOUNT OF DISCRETIONARY INVESTMENT CLIENTS)

Rules 8.1, 8.2 and 8.4 of the Takeover Code (the "Code")

 

1.         KEY INFORMATION

 

(a) Full name of discloser:

Jason Robins

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

     The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.

N/A

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

     Use a separate form for each offeror/offeree

DraftKings Inc.

(d) Status of person making the disclosure:

     e.g. offeror, offeree, person acting in concert with the offeror/offeree (specify name of offeror/offeree)

Person acting in concert with the offeror (DraftKings Inc.)

(e) Date dealing undertaken:

21 October 2021

(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

     If it is a cash offer or possible cash offer, state "N/A"

No

 

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

 

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

 

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing

 

Class of relevant security:

 

Class A common stock, par value $0.0001 each

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

3,836,502

0.945

Nil

-

(2) Cash-settled derivatives:

 

Nil

-

Nil

-

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

Nil

-

Nil

-

 

     TOTAL:

3,836,502

0.945

Nil

-

 

Class of relevant security:

 

Class B common stock, par value $0.0001 each

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

393,013,951

100

Nil

-

(2) Cash-settled derivatives:

 

Nil

-

Nil

-

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

Nil

-

Nil

-

 

     TOTAL:

393,013,951

100

Nil

-

 

All interests and all short positions should be disclosed.

 

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

 

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

 

(b)        Rights to subscribe for new securities (including directors' and other employee options)

 

(i) Stock options

 

Class of relevant security in relation to which subscription right exists:

Class A common stock, par value $0.0001 each

Details, including nature of the rights concerned and relevant percentages:

Grant Date

Expiry Date

Number of Options

Exercise Price

Vesting

03/05/2017

03/05/2017

154,189

$3.82

Fully Vested

18/04/2018

18/04/2028

30,484

$3.29

All options vest on 01/01/2022

18/04/2018

18/04/2028

367,109

$3.29

(i) 26,315 options vest on 01/01/2022, (iii) 56,799 options vest on 01/04/2022, (iv) 283,995 options have vested

04/06/2019

04/06/2029

21,302

$4.70

All options vest on 03/01/2023

04/06/2019

04/06/2029

818,565

$4.70

(i) 69,989 options vest on 01/12/2021, (ii) 69,989 options vest on 01/03/2022, (iii) 69,989 options vest on 01/06/2022, (iv) 69,989 options vest on 01/09/2022, (v) 69,989 options vest on 01/12/2022, (vi) 48,686 options vest on 01/03/2023, (vii) 69,689 options vest on 01/06/2023, (viii) 349,945 options have vested

10/02/2016

18/02/2025

187,787

 $0.63

Fully Vested

24/03/2016

24/03/2026

19,270

 $0.63

Fully Vested

03/05/2017

03/05/2017

354,097

 $3.82

Fully Vested

 

18/04/2018

18/04/2028

584,498

 $3.29

(i) 13,873 options vest on 01/01/2022, (ii) 13,872 options vest on 01/04/2022, (iii) 556,753 options have vested

03/05/2018

03/05/2018

1,511,843

 $3.29

Fully Vested

04/06/2019

04/06/2029

707,254

 $4.70

(i) 18,786 options vest on 01/12/2021, (ii) 18,787 options vest on 01/03/2022, (iii) 18,786 options vest on 01/06/2022, (iv) 18,786 options vest on 01/09/2022, (v) 18,786 options vest on 01/12/2022, (vi) 18,786 options vest on 01/03/2023, (vii) 18,786 options vest on 01/06/2023, (viii) 575,751 options have vested

 

 

(ii) DraftKings Inc. restricted stock units (RSUs)

 

Class of relevant security in relation to which subscription right exists:

Class A common stock, par value $0.0001 each

Details, including nature of the rights concerned and relevant percentages:

Grant Date

Number of shares RSUs

Vesting

11/08/2020

185,396

The RSUs may vest based on performance criteria.

11/08/2020

127,460

The RSUs vest in equal instalments on 23/10/2021, 23/01/2022, 23/04/2022, 23/07/2022, 23/10/2022, 23/01/2023, 23/04/2023, 23/07/2023, 23/10/2023, 23/01/2024, 23/04/2024.

27/12/2020

3,000,000

The RSUs may vest based on performance criteria.

22/02/2021

93,586

The RSUs may vest based on performance criteria.

22/02/2021

81,888

The RSUs vest in equal instalments on 22/11/2021, 22/02/2022, 22/05/2022, 22/08/2022, 22/11/2022, 22/02/2023, 22/05/2023, 22/08/2023, 22/11/2023, 22/02/2024, 22/05/2024, 22/08/2024, 22/11/2024, 22/02/2025.

 

 

(iii) Private warrants(1)

 

Class of relevant security in relation to which subscription right exists:

Class A common stock, par value $0.0001 each

Details, including nature of the rights concerned and relevant percentages:

Expiry Date

Number of Warrants

Exercise Price

23/05/2025

3,610

$11.50

 

Notes

(1)   Each warrant entitles the holder to purchase one share of the offeror's Class A common stock at an exercise price of $11.50 per share, subject to adjustment procedures.  The warrants became exercisable on 23 May 2020 and will expire on 23 April 2025, or earlier upon redemption or liquidation.

 

3.         DEALINGS BY THE PERSON MAKING THE DISCLOSURE

 

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

 

The currency of all prices and other monetary amounts should be stated.

 

(a)        Purchases and sales

 

(i)         Party to an offer or person acting in concert (except for a principal trader in the same group as a connected adviser)

 

Class of relevant security

Purchase/sale(1)

 

Number of securities

Price per unit ($)

Class A common stock, par value $0.0001 each

Sale

208

49.685

Sale

804

48.915

Sale

1,313

49.41

Sale

2,264

49.235

Sale

1,150

48.84

Sale

113

49.015

Sale

6,546

49.33

Sale

1,046

48.855

Sale

963

48.79

Sale

300

49.555

Sale

714

49.84

Sale

1,959

49.145

Sale

1,071

49.195

Sale

2,085

48.88

Sale

3,611

49.45

Sale

126

49.675

Sale

4,285

49.46

Sale

479

48.805

Sale

4,952

49.32

Sale

4,092

49.37

Sale

1,302

49.315

Sale

110

49.065

Sale

3,897

49.24

Sale

1,592

49.56

Sale

737

49.445

Sale

1,760

49.75

Sale

108

49.605

Sale

3,800

49.13

Sale

265

49.485

Sale

530

49.4

Sale

7,082

49.14

Sale

108

49.04

Sale

4,084

49.18

Sale

947

49.205

Sale

407

48.99

Sale

6,231

49.44

Sale

4,404

49.65

Sale

2,250

49.09

Sale

875

48.9

Sale

217

49.745

Sale

104

49.755

Sale

915

49.165

Sale

355

49.825

Sale

1,381

49.47

Sale

1,721

49.335

Sale

7,800

49.34

Sale

747

49.185

Sale

1,380

49.42

Sale

4,320

49.22

Sale

200

49.695

Sale

1,456

49.505

Sale

1,029

49.07

Sale

826

48.93

Sale

2,852

49.78

Sale

1,181

49.125

Sale

2,573

49.27

Sale

871

48.94

Sale

4,685

49.51

Sale

745

49.265

Sale

7

49.765

Sale

205

48.795

Sale

2,568

49.39

Sale

168

48.76

Sale

1,400

49.435

Sale

601

49.76

Sale

336

49.29

Sale

3,028

49.64

Sale

4,184

49.59

Sale

2,833

48.89

Sale

1,710

49.525

Sale

2,812

49.095

Sale

200

49.795

Sale

1,502

49.355

Sale

3,060

49.69

Sale

653

49.425

Sale

2,997

49.49

Sale

200

48.83

Sale

4,203

49.43

Sale

3,636

49.58

Sale

845

49.285

Sale

297

49.225

Sale

999

49.135

Sale

100

49.645

Sale

918

49.73

Sale

558

49.715

Sale

400

48.825

Sale

3,523

49.54

Sale

482

49.155

Sale

358

49.515

Sale

546

49.405

Sale

782

49.465

Sale

200

48.975

Sale

1,034

48.77

Sale

425

49.035

Sale

337

48.97

Sale

2,623

49.52

Sale

375

49.08

Sale

723

49.045

Sale

192

49.0075

Sale

300

48.845

Sale

44

48.935

Sale

3,743

49.16

Sale

1,653

49.365

Sale

204

49.635

Sale

914

49.77

Sale

719

49.03

Sale

3,092

49.38

Sale

882

49.585

Sale

619

49.005

Sale

1,467

49.8

Sale

300

49.615

Sale

904

49.325

Sale

1,764

49.74

Sale

551

49.735

Sale

951

49.475

Sale

1,501

49.67

Sale

220

48.895

Sale

3,792

49.12

Sale

1,078

49.55

Sale

1,657

49.83

Sale

421

49.345

Sale

100

49.025

Sale

400

48.875

Sale

952

48.865

Sale

600

49.085

Sale

992

48.815

Sale

1,508

49.175

Sale

401

49.535

Sale

1,200

49.565

Sale

1,365

49.115

Sale

1,746

49.26

Sale

1,054

49.06

Sale

1,194

48.82

Sale

633

49.275

Sale

4,140

49.66

Sale

4,616

49.17

Sale

2,888

49.11

Sale

1,360

48.8

Sale

989

49.68

Sale

300

49.495

Sale

882

49.01

Sale

9,884

49.15

Sale

2,258

49.28

Sale

7

49.835

Sale

1,233

48.885

Sale

3,805

49.31

Sale

377

49.415

Sale

799

48.78

Sale

1,066

48.85

Sale

3,459

49.21

Sale

3,984

49.53

Sale

1,434

49.3

Sale

2,903

49.6

Sale

3,577

49.7

Sale

3,424

49.02

Sale

258

49.725

Sale

3,788

49.63

Sale

554

48.835

Sale

206

49.595

Sale

3,952

49.57

Sale

1,428

49.25

Sale

100

48.945

Sale

895

49.245

Sale

200

48.785

Sale

1,499

49.305

Sale

1,418

49.62

Sale

5,685

49.2

Sale

5,806

49.35

Sale

618

49.655

Sale

417

49.295

Sale

812

49.455

Sale

3,590

49.36

Sale

743

49

Sale

100

49.105

Sale

438

49.79

Sale

100

49.775

Sale

3,490

48.87

Sale

621

49.375

Sale

6,662

49.5

Sale

100

49.665

Sale

4,172

49.19

Sale

330

48.95

Sale

1,144

49.72

Sale

1,169

49.215

Sale

3,104

49.23

Sale

2,617

49.05

Sale

1,016

49.625

Sale

2,274

49.48

Sale

1,192

48.81

Sale

2,072

49.1

Sale

1,304

48.91

Sale

200

49.575

Sale

2,099

49.61

Sale

2,900

48.86

Sale

289

49.055

Sale

536

48.775

Sale

1,258

49.71

Sale

1,307

48.905

Sale

351

48.92

Sale

407

49.705

Sale

200

49.785

Sale

1,321

49.82

Sale

338

49.385

 

Notes

(1)   These dealings were carried out pursuant to Mr Robins' existing Rule 10b5-1 plan.

 

(ii)        Principal trader where the sole reason for the connection is that the principal trader is in the same group as a connected adviser

 

Class of relevant security

Purchases/ sales

 

Total number of securities

Highest price per unit paid/received

Lowest price per unit paid/received


 

 




 

(b)        Cash-settled derivative transactions

 

Class of relevant security

Product description

e.g. CFD

Nature of dealing

e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit


 

 




 

(c)        Stock-settled derivative transactions (including options)

 

(i)         Writing, selling, purchasing or varying

 

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type

e.g. American, European etc.

Expiry date

Option money paid/ received per unit









 

(ii)        Exercise

 

Class of relevant security

Product description

e.g. call option

Exercising/ exercised against(1)

Number of securities

Exercise price per unit

 

 





 

(d)        Other dealings (including subscribing for new securities)

 

Class of relevant security

Nature of dealing

e.g. subscription, conversion

Details

Price per unit (if applicable)





 

 

4.         OTHER INFORMATION

 

(a)        Indemnity and other dealing arrangements

 

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the party to the offer or person acting in concert making the disclosure and any other person:

Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state "none"

 

None.

 

 

 

(b)        Agreements, arrangements or understandings relating to options or derivatives

 

Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer or person acting in concert making the disclosure and any other person relating to:

(i)  the voting rights of any relevant securities under any option; or

(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none"

 

None.

 

 

(c)        Attachments

 

Are any Supplemental Forms attached?

 

Supplemental Form 8 (Open Positions)

NO

Supplemental Form 8 (SBL)

NO

 

 

Date of disclosure:

22 October 2021

Contact name:

Joe DeCristofaro, Investor Relations

Telephone number:

+1 617 986 6744

 

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

 

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

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