I don't think there's any need for you to be concerned about DKNG. The company's filed an S-1 to do a secondary offering of its common stock. It's only for 33 million shares; DKNG's o/s is 313 million.
MORE than HALF the MONEY from dilution is not even going to the company...
Yes, it's going to the Selling Stockholders. They're people who'd previously bought stock in an earlier private placement. Till now, they've been restricted; they'll be registered in the offering, and once that happens, their owners will be able to sell. (Just looking at the S-1. In addition to the stock issued to the PIPE investors, there were some options.)
In addition, the company is offering some of its own stock. Of the shares to be sold, 19 million will come from the selling stockholders, and 14 from the company.
All of that is normal and unalarming. Maybe not the best time to do it, but you can't have everything.
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