BuybackMay 5, 2026, 04:08 PM
Rush Street Interactive: Executives Offer 10M Shares; RSI Announces $30M Buyback
AI Summary
Rush Street Interactive, Inc. announced a secondary public offering of 10,000,000 shares of its Class A common stock by its Executive Chairman, CEO, and COO for personal financial and estate planning. Concurrently, RSI intends to repurchase $30,000,000 of its Class A common stock from the underwriters and replace its existing buyback program with a new $100,000,000 plan. RSI will not receive any proceeds from the sale by the selling stockholders but will bear associated costs.
Key Highlights
- Selling stockholders are offering 10,000,000 shares of Class A common stock.
- Selling stockholders include Neil Bluhm (Executive Chairman), Richard Schwartz (CEO), and Mattias Stetz (COO).
- RSI intends to repurchase $30,000,000 of Class A common stock concurrently with the offering.
- The repurchased shares will be cancelled and funded with cash on hand.
- RSI's existing stock repurchase plan will be replaced by a new $100,000,000 plan.
- Selling stockholders are offering less than 10% of their currently owned RSI stock for personal/estate planning.
- Neil Bluhm will continue to own over 40% of RSI's stock and remain Executive Chairman.