SEC Comment Letter for DraftKings Inc. (CIK 0001772757) — Sep 21, 2021
DraftKings Inc. (CIK 0001772757)
Date: Sept. 21, 2021 · CIK: 0001772757 · Accession: 0000000000-21-011423
AI Filing Summary & Sentiment
File numbers found in text: 001-38908
Letter
United States securities and exchange commission logo September 21, 2021 Jason Park Chief Financial Officer DraftKings Inc. 222 Berkeley Street, 5th Floor Boston, MA 02116 Re:DraftKings Inc. Form 10-K for the Fiscal Year Ended December 31, 2020 Amended Form 10-K for the Fiscal Year Ended December 31, 2020 Response Dated August 27, 2021 File No. 001-38908 Dear Mr. Park: We have reviewed your August 27, 2021 response to our comment letter and have the following comment. In our comment, we ask you to provide us with information so we may better understand your disclosure. Please respond to the comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to the comment, we may have additional comments. Unless we note otherwise, our reference to prior comment is to comment in our August 19, 2021 letter. Amended Form 10-K for the Fiscal Year Ended December 31, 2020 Item 9A. Controls and Procedures Evaluation of Disclosure Controls and Procedures, page 70 1.In your response to comment 2, you explain the various controls and procedures that were in place and properly designed to record, summarize and report relevant information for disclosure regarding your warrants. Given your conclusion that these controls were effective as of December 31, 2020, please explain what deficiency/ies led to the determination to restate your financial statements and explain why that same deficiency/ies does not reflect a weakness of any of your controls and procedures as it relates to your disclosures.
FirstName LastNameJason Park Comapany NameDraftKings Inc. September 21, 2021 Page 2 FirstName LastName Jason Park DraftKings Inc. September 21, 2021 Page 2 You may contact Keira Nakada at 202-551-3659 or Linda Cvrkel at 202-551-3813 with any questions. Sincerely, Division of Corporation Finance Office of Trade & Services
Show Raw Text
United States securities and exchange commission logo
September 21, 2021
Jason Park
Chief Financial Officer
DraftKings Inc.
222 Berkeley Street, 5th Floor
Boston, MA 02116
Re:DraftKings Inc.
Form 10-K for the Fiscal Year Ended December 31, 2020
Amended Form 10-K for the Fiscal Year Ended December 31, 2020
Response Dated August 27, 2021
File No. 001-38908
Dear Mr. Park:
We have reviewed your August 27, 2021 response to our comment letter and have the
following comment. In our comment, we ask you to provide us with information so we may
better understand your disclosure.
Please respond to the comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to the comment, we may have additional
comments. Unless we note otherwise, our reference to prior comment is to comment in our
August 19, 2021 letter.
Amended Form 10-K for the Fiscal Year Ended December 31, 2020
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures, page 70
1.In your response to comment 2, you explain the various controls and procedures that were
in place and properly designed to record, summarize and report relevant information for
disclosure regarding your warrants. Given your conclusion that these controls were
effective as of December 31, 2020, please explain what deficiency/ies led to the
determination to restate your financial statements and explain why that same
deficiency/ies does not reflect a weakness of any of your controls and procedures as it
relates to your disclosures.
FirstName LastNameJason Park
Comapany NameDraftKings Inc.
September 21, 2021 Page 2
FirstName LastName
Jason Park
DraftKings Inc.
September 21, 2021
Page 2
You may contact Keira Nakada at 202-551-3659 or Linda Cvrkel at 202-551-3813 with
any questions.
Sincerely,
Division of Corporation Finance
Office of Trade & Services