Rush Street falls as secondary offering kicks off

Rush Street Interactive

05/05/2026 22:38

** Online casino and sports betting company Rush Street Interactive's RSI.N shares slide 10.2% to $26.20 in extended trading

** RSI kicks off secondary offering of 10 million shares by one or more trusts beneficially owned by executive chairman Neil Bluhm, CEO Richard Schwartz and chief operating officer Mattias Stetz

** Selling stockholders offering shares for personal financial planning and estate planning purposes - RSI

** Wells Fargo Securities and Morgan Stanley acting as joint book-running managers

** Upon offering completion, Neil Bluhm and trusts and other entities beneficially owned by him will continue to own over 40% of the firm's stock - RSI

** Concurrently, RSI intends to repurchase from the underwriters $30 million of shares from the offering under its existing stock repurchase program

** As of last close, RSI stock up 50% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))