Corporate ActionMay 5, 2026, 10:31 PM
Rush Street Interactive: Secondary Offering by Execs, $100M Buyback
AI Summary
Rush Street Interactive, Inc. announced the pricing of an underwritten secondary public offering of 10,000,000 shares of its Class A common stock by its Executive Chairman, CEO, and COO at $26.00 per share. Concurrently, RSI intends to repurchase 1,153,846 shares from the offering and has approved a new $100 million stock repurchase plan. The selling stockholders are offering less than 10% of their holdings, and Neil Bluhm will remain the largest shareholder with over 40% ownership.
Key Highlights
- Selling stockholders are offering 10,000,000 shares of Class A common stock at $26.00 per share.
- Selling stockholders include Executive Chairman Neil Bluhm, CEO Richard Schwartz, and COO Mattias Stetz.
- Selling stockholders are offering less than 10% of their respective currently owned RSI stock.
- RSI intends to repurchase 1,153,846 shares of Class A common stock from the offering at $26.00 per share.
- RSI's Board of Directors approved a new $100 million stock repurchase plan.
- Neil Bluhm and related entities will continue to own over 40% of RSI's stock, remaining the largest shareholder.
- RSI will not receive any proceeds from the sale of shares by the Selling Stockholders.