Rush Street Interactive has announced the pricing of a secondary offering of 10 million shares of Class A common stock at $26.00 per share by selling stockholders including Executive Chairman Neil Bluhm, Chief Executive Officer Richard Schwartz, and Chief Operating Officer Mattias Stetz. The offering price represents a discount to the current stock price of $29.17, which trades near its 52-week high of $29.24.

Each selling stockholder is offering less than 10% of their currently owned RSI stock for personal financial planning and estate planning purposes, according to a press release statement. The offering is expected to close on May 7, 2026, subject to customary closing conditions.

Following the transaction, Bluhm and trusts beneficially owned by him will continue to own over 40% of RSI’s stock, remaining the company’s largest shareholder. Underwriters have a 30-day option to purchase up to an additional 1.5 million shares from the selling stockholders.

RSI will not offer any shares or receive proceeds from the sale but will bear costs associated with the transaction, excluding underwriting discounts and commissions.

The company plans to repurchase 1,153,846 shares from the underwriters at the same price paid to the selling stockholders under its existing stock repurchase program. The repurchase will be funded with cash on hand, and the shares will be cancelled. RSI’s board approved a new $100 million stock repurchase plan to replace the existing program following the transaction.

Wells Fargo Securities and Morgan Stanley are serving as lead book-running managers for the offering. Jefferies, Craig-Hallum, Macquarie Capital, Needham & Company and Oppenheimer & Co. are joint book-running managers.