Diamond Eagle Acquisition Corp. intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2019 and is based in Los Angeles, California.
DraftKings hopes to cash in at the Super Bowl and on Wall Street The company, founded in 2011, is poised to enter the online gambling market in Oregon once its merger with European sports betting firm SBTech is completed later this year. SBTech is licensed in Oregon. The DraftKings-SBTech deal is part of a transaction that will eventually lead to DraftKings becoming a publicly traded company. Instead of going public through a traditional stock sale or a direct listing of shares as Spotify (SPOT) and Slack (WORK) did, DraftKings is merging with an already public special purpose acquisition company (SPAC) named Diamond Eagle Acquisition Corp (DEAC) that trades on the Nasdaq. https://www.cnn.com/2020/02/01/investing/draftkings-super-bowl-bets-stock/index.html
