Another late deal with the Minnesota Timberwolves allowed the Raptors to take Ulrich Chomche with the 57th overall pick.
Neither deal was official, pending a trade call to the NBA's head office. Those calls were expected to be made on Friday.
Because the deals were not finalized, the Kings officially drafted Shead with the understanding he will be sent to the Raptors to complete the deal.
Mogbo averaged 14.2 points, 10.1 rebounds and 3.6 assists as a centre for the University of San Francisco last season.
Shead averaged 12.9 points, 6.3 assists and 3.7 rebounds as a guard for the University of Houston Cougars last season.
A 6-10 centre from Cameroon who played for NBA Academy Africa, Chomche was the youngest player eligible for the 2024 NBA Draft.
Comche only played three games for the NBA Academy Africa during the Basketball Africa League qualifiers when he averaged 13 points, nine rebounds, three assists, three blocks and one steal per game
Toronto picked Baylor University swingman Ja'Kobe Walter 19th overall in the first round on Wednesday night.
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