DraftKings prices 32 million share offering at $52 a share

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Fantasy sports and online betting site DraftKings Inc. said Wednesday it has priced a previously announced offering of 32 million shares at $52 a share. The company is selling 16 million shares, while selling shareholders are selling another 16 million, for a total offering size of $1.664 billion. DraftKings will not receive any of the proceeds from the shares being offered by selling shareholders. Underwriters Credit Suisse and Goldman Sachs have a 30-day option to acquire up to 4.8 million additional shares. Shares fell 3.7% in premarket trade, but have gained 431% in the year to date, while the S&P 500 has gained 4%.
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