RSI Rule 144 Notice: 70,000-Share Sale via Merrill Lynch Listed on NYSE
Rhea-AI Filing Summary
Rush Street Interactive insider sale notice under Rule 144. An individual reported conversion of 70,000 units into common shares on 09/30/2025 and a proposed sale of those 70,000 common shares on 10/01/2025 through Merrill Lynch on the NYSE with an aggregate market value listed as $1,394,448.45 and total shares outstanding of 88,607,034. The filing also discloses three prior sales by the same person in the past three months: 70,000 shares on 07/01/2025 for $1,030,960.52, 70,000 shares on 08/01/2025 for $1,323,783.58, and 70,000 shares on 09/02/2025 for $1,500,338.77. The filer certifies no undisclosed material adverse information and indicates sales will be for cash.
Positive
- Rule 144 compliance: Notice filed with broker and exchange details, showing procedural transparency
- Full transaction details provided: acquisition date, nature (units converted), payment method (cash), and broker identified
Negative
- Concentrated insider selling: Four separate 70,000-share transactions within three months, indicating 280,000 shares sold or proposed
- Material proceeds disclosed: Prior three months' gross proceeds total $4,855,082.87, which is a sizable insider disposition disclosed in the filing
Insights
TL;DR: Insider filings show repeated monthly sales of 70,000-share blocks, with another 70,000-share sale proposed via Merrill Lynch.
The pattern of four 70,000-share transactions in close succession is material from a disclosure perspective because it increases the public float sold by an insider over a short period. The document clearly states each sale amount, dates, and gross proceeds, and identifies the broker and exchange. This is a routine Rule 144 notice that documents compliance with resale requirements; it does not include forward-looking or operational company information.
TL;DR: Filing fulfills Rule 144 notice requirements; signer affirms no undisclosed material adverse information.
The form provides the required acquisition and sale details: conversion date, source as the issuer, payment in cash, broker details, and prior three months' sale history with gross proceeds. From a governance standpoint, the notice contains the standard certification about material information and warnings about false statements. The filing is procedural and appropriately structured for public disclosure.