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Diamond Eagle To Purchase DraftKings, A Fantasy Sports Provider: Bloomberg

Diamond Eagle Acquisition Corp, a special purpose acquisition firm, is planning to acquire DraftKings, a fantasy sports provider, and has taken steps forward to discuss this with the company, according to the recent reports by Bloomberg.

While citing people familiar with the topic, Bloomberg reported that though there is no final deal between DraftKings and Diamond Eagle, both the companies are privately negotiating on the same. Actor Eli Baker and Hollywood producer Jeff Sagansky are the key Founders of the company established in 2019. Moreover, raising capital in a new funding round is another option for DraftKings, if this deal is not finalized successfully, Bloomberg stated.

In an emailed statement, the firm said, “DraftKings speaks to a range of firms regarding diverse matters in the normal course of business, and it is our standard policy not to state the specifics of all of those talks.”

On a similar note, earlier in July of this year, Diamond Eagle had announced that the individuals who had purchased the shares in the firm’s May 14, 2019, initial public offering were open to individually trade the Class A common stock’s shares and warrants incorporated in the units beginning on or about July 1, 2019.

Moreover, the company had announced that the units not separated from the firm can use the symbol “DEACU” to trade on The Nasdaq Capital Market. Similarly, the symbols to be used while trading for all shares of Class A common stock and warrants while trading separately were “DEAC” and “DEACW,” respectively. The firm had also stated that only complete warrants can trade and it will not issue any fractional warrants on the separation of the units. In addition, the units’ holders were informed that to part the units into Class A common stock and warrants’ shares, they will need to have their brokers contact Continental Stock Transfer & Trust Company.

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