DraftKings receives SEC approval to go public later this month
The merger of DraftKings and SB Tech has been approved by the Securities and Exchange Commission according to an announcement from Diamond Eagle Acquisition Corp (DEAC), clearing DraftKings to become a public company later this month.
DEAC shareholders will vote on the merger at a special meeting scheduled for 23 April.
DEAC filed a Registration Statement with the SEC in Nevada and a statement of approval on 15 April.
The merger is valued $2.7bn.
DEAC, a special purpose acquisition company, was founded by Hollywood veterans Harry Sloan and Jeff Sagansky.
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