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AI brief of an SEC Form 8-K · DraftKings Inc. (DKNG)

DraftKings closes $700 million term loan and $750 million revolving credit facility

Neutral Impact 3 of 5 financing Written later

DraftKings closed a second amendment to its credit agreement on August 25, 2026, adding a $700 million Term Loan B due 2033 and a $750 million revolving credit facility maturing in 2031. The revolver replaces an existing $500 million facility scheduled to mature in November 2029. The company plans to use the term loan proceeds to repurchase part of its 0% convertible notes due 2028, subject to market conditions, and for general corporate purposes.

Key points

  • Term Loan B of $700 million, up from the previously announced $600 million, due August 2033, priced at Term SOFR plus 2.00% and offered at 99.50% of par
  • New $750 million revolving credit facility maturing August 25, 2031, replacing the $500 million facility due 2029
  • Planned use of term loan proceeds: repurchases of part of the 0% Convertible Senior Notes due 2028, subject to availability and market conditions

The filing

CompanyDraftKings Inc. (DKNG)
Form8-K, current report
Filed with the SECAug 25, 2026, 4:19 PM ET
Accession number0001104659-26-100812

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:45 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 25, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.