Rush Street Interactive Inc. (NYSE: RSI) announced the pricing of an underwritten secondary public offering of 10 million shares of Class A common stock at $26 per share. The shares are being sold by trusts beneficially owned by Neil Bluhm, RSI's Executive Chairman, Richard Schwartz, RSI's Chief Executive Officer, and Mattias Stetz, RSI's Chief Operating Officer.

Each selling stockholder is offering less than 10% of their respective currently owned RSI stock. The offering is expected to close on May 7, 2026, subject to customary closing conditions. Underwriters have a 30-day option to purchase up to an additional 1.5 million shares from the selling stockholders.

The selling stockholders stated they are offering shares for personal financial planning and estate planning purposes. After the offering's completion, Neil Bluhm and related trusts will continue to own over 40% of RSI's stock, maintaining his position as the largest shareholder.

RSI will not offer any shares or receive proceeds from the sale but will bear associated costs except for underwriting discounts and commissions. Wells Fargo Securities and Morgan Stanley are serving as lead book-running managers for the offering.

Concurrent with the offering, RSI plans to repurchase 1,153,846 shares from underwriters at the same price paid to selling stockholders under its existing stock repurchase program. The company will fund the repurchase with cash on hand and cancel the repurchased shares.

Following the repurchase, RSI's existing stock repurchase plan will be replaced with a new $100 million stock repurchase plan approved by the company's Board of Directors.

The offering is being conducted under a shelf registration statement on Form S-3 filed with the SEC. RSI operates online casino and sports betting platforms across 15 U.S. states and several international markets including Colombia, Ontario, Mexico and Peru.