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DraftKings Invests in Vivid Seats SPAC as Boehly Cuts Stake

DraftKings Sinks On Share Sale And Virus Wreaking NFL Havoc
Photographer: Gabby Jones/Bloomberg
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DraftKings Inc. agreed to make an undisclosed investment in Horizon Acquisition Corp., a blank-check company expected to begin trading as Vivid Seats Inc. next week.

DraftKings is taking over some of the commitment made by Eldridge Industries LLC, founded by Los Angeles Dodgers co-owner Todd Boehly, according to a statement Thursday.