| Item 7.01. | Regulation FD Disclosure. |
As previously reported on a Current Report on Form 8-K filed on
April 25, 2022 with the U.S. Securities and Exchange Commission (the “SEC”), on April 25, 2022, Data Knights Acquisition
Corp., a Delaware corporation (the “Company”), Data Knights Merger Sub, Inc., a Delaware corporation
(“Merger Sub”), and Data Knights, LLC, the Company’s sponsor (the “Sponsor”), entered
into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with OneMedNet Corporation, Inc., a
Delaware corporation (“OneMedNet”), and Paul Casey, as seller representative (“Casey”, and
together with the Company, Merger Sub, the Sponsor and OneMedNet, the “Parties”).
Furnished as Exhibit 99.1 hereto and
incorporated into this Item 7.01 by reference is a press release issued by the Company in connection with the filing by the Company of
a registration statement on Form S-4 under the Securities Act of 1933, as amended, relating to the Merger Agreement and the transactions
contemplated thereby.
The information in this Item 7.01, including
Exhibit 99.1, is being furnished and will not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor will it be deemed
to be incorporated by reference in any filing under the Securities Act or the Exchange Act.
Additional Information and Where to Find It
The Company has filed a Prospectus and Proxy Statement
with the SEC, which Prospectus and Proxy Statement will be delivered to its stockholders once definitive. This document does not contain
all the information that should be considered concerning the business combination and the other stockholder approval matters and is not
intended to form the basis of any investment decision or any other decision in respect of the business combination and the other stockholder
approval matters. The Company’s stockholders and other interested persons are advised to read, when available, the definitive Prospectus
and Proxy Statement and the amendments thereto and other documents filed in connection with the business combination and other stockholder
approval matters, as these materials will contain important information about the Company, OneMedNet, the business combination and the
other stockholder approval matters. When available, the definitive Prospectus and Proxy Statement and other relevant materials for the
business combination and other stockholder approval matters will be distributed to stockholders of the Company as of a record date to
be established for voting on the business combination and the other stockholder approval matters. Stockholders will also be able to obtain
copies of the Prospectus and Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s
website at www.sec.gov, or by directing a request to: Data Knights Acquisition Corp., Unit G6, Frome Business Park, Manor Road, Frome,
BA11 4FN, United Kingdom.
No Offer or Solicitation
This Current Report on Form 8-K is for
informational purposes only and is not intended to and shall not constitute a proxy statement or the solicitation of a proxy,
consent or authorization with respect to any securities or in respect of the business combination or any related transactions and is
not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to
buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Participants in Solicitation
The Company and its directors and executive officers
may be deemed participants in the solicitation of proxies from the Company’s stockholders with respect to the business combination
and related matters. A list of the names of those directors and executive officers and a description of their interests in the Company
is contained in the Company’s Registration Statement on Form S-1, as filed on March 9, 2021, which was filed with the SEC and
is available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to Data Knights Acquisition Corp., Unit
G6, Frome Business Park, Manor Road, Frome, BA11 4FN, United Kingdom. Additional information regarding the interests of such participants
will be contained in the definitive Prospectus and Proxy Statement when available.
OneMedNet and its directors, managers, and executive
officers may also be deemed to be participants in the solicitation of proxies from the Company’s stockholders in connection with
the business combination and related matters. A list of the names of such parties and information regarding their interests in the business
combination and related matters will be included in the definitive Prospectus and Proxy Statement when available.