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Filing Details

Accession Number:: 0000899243-21-014301
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-03-31 21:38:22
Reporting Period:: 2021-03-29

Accepted Time:: 2021-03-31 21:38:22
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1793659	Rush Street Interactive Inc.	RSI	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1432602	L. Harry You	C/O Rush Street Interactive, Inc. 900 N. Michigan Avenue, Suite 950 Chicago IL 60611		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2021-03-29	3,337,500	$11.50	3,337,500	No	4	M	Indirect	See Footnote
Class A Common Stock	Disposition	2021-03-29	2,051,596	$18.71	1,285,904	No	4	D	Indirect	See Footnote
Class A Common Stock	Disposition	2021-03-29	70,000	$15.57	1,215,904	No	4	S	Indirect	See Footnote
Class A Common Stock	Disposition	2021-03-30	552,500	$15.01	663,404	No	4	S	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Indirect	See Footnote
No	4	D	Indirect	See Footnote
No	4	S	Indirect	See Footnote
No	4	S	Indirect	See Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Private Placement Warrants (right to buy)	Disposition	2021-03-29	3,337,500	$0.00	3,337,500	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2021-01-28	2025-12-29	No	4	M	Indirect

Footnotes

On March 29, 2021, the Reporting Person, exercised 3,337,500 warrants (the "Private Placement Warrants"), on a cashless basis pursuant to the Warrant Agreement, dated as of February 20, 2020, by and between the Issuer and Continental Stock Transfer & Trust Company (the "Warrant Agreement"), with each Private Placement Warrant exercisable for one share of Class A common stock per Private Placement Warrant at a price of $11.50 per share. The disposition of Class A common stock in connection with the cashless exercise was exempted pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended, by resolution of the board of directors of the Issuer prior to the disposition.
These shares are held directly by RHY 2021 Irrevocable Trust (the "Trust"), of which the Reporting Person is the Investment Advisor. The Reporting Person may be deemed to have beneficial ownership of the shares held directly by the Trust. The Reporting Person disclaims beneficial ownership of such shares, and this Form 4 shall not be deemed an admission that the Reporting Person is the beneficial owner of the shares for purposes of Section 16 or for any other purpose.
The Class A common stock was sold by the Trust in open market transactions on the transaction date, with a weighted average price of $15.5653. The range of the sale price on the transaction date was $15.25 to $16.215 per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
The Class A common stock was sold by the Trust in open market transactions on the transaction date, with a volume weighted average price of $15.0108. The range of the sale price on the transaction date was $15.00 to $15.55 per share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
These Private Placement Warrants are held directly by the Trust, of which the Reporting Person is the Investment Advisor.
The number of shares issuable upon a cashless exercise is determined, in accordance with Section 3.3.1(c) of the Warrant Agreement by dividing (x) the product of the number of shares of Class A common stock underlying the Private Placement Warrants multiplied by the difference between $11.50 and the Fair Market Value by (y) the Fair Market Value. For this purpose, the "Fair Market Value" is equal to the average closing price of the Issuer's Class A common stock for the ten (10) trading days ending on the third trading day prior to March 25, 2021. The Issuer has calculated the Fair Market Value to be $18.708.