Divisadero Street Capital Discloses 4.25M Share Stake in Rush Street Interactive

TL;DR

**Divisadero Street Capital just revealed a 4.25M share stake in Rush Street Interactive, signaling institutional confidence.**

AI Summary

Divisadero Street Capital Management, LP, a Delaware-based investment firm, has reported beneficial ownership of 4,252,754 shares of Class A common stock in Rush Street Interactive, Inc. (RSI) as of January 22, 2024. This filing indicates that Divisadero holds shared voting power over these shares, representing a significant stake in the online casino and sports betting company. This matters to investors because a large institutional holding can signal confidence in the company's future, potentially influencing stock price and stability.

Why It Matters

This filing reveals a major institutional investor's significant stake in Rush Street Interactive, which can be seen as a vote of confidence and may attract further investor interest.

Risk Assessment

Risk Level: low — This filing indicates an institutional investment, which generally reduces risk by showing external validation of the company's prospects.

Analyst Insight

A smart investor would view this institutional stake as a positive signal, potentially indicating a deeper dive into RSI's fundamentals and market position, especially given the growth potential in online gaming.

Key Numbers

• 4,252,754 — Shares Beneficially Owned (Represents the number of Rush Street Interactive Class A common stock shares Divisadero Street Capital Management, LP has shared voting power over.)
• January 22, 2024 — Date of Event (The date that triggered the requirement for this SC 13G filing.)
• 782011100 — CUSIP Number (Unique identification number for Rush Street Interactive's Class A common stock.)

Key Players & Entities

• Divisadero Street Capital Management, LP (company) — reporting person, investment firm
• Rush Street Interactive, Inc. (company) — subject company, issuer of stock
• Delaware (company) — state of incorporation for Divisadero Street Capital Management, LP
• Class A common stock (company) — type of securities owned
• $0.0001 (dollar_amount) — par value per share

Forward-Looking Statements

• The significant institutional holding by Divisadero Street Capital Management, LP could lead to increased investor confidence in Rush Street Interactive, Inc. (Rush Street Interactive, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.0001 — Name of Issuer) Class A common stock, $0.0001 par value per share (Title of Class o

Filing Documents

• d10943833_13g.htm (SC 13G) — 125KB
• 0000919574-24-000558.txt ( ) — 127KB

From the Filing

SC 13G 1 d10943833_13g.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Rush Street Interactive, Inc. (Name of Issuer) Class A common stock, $0.0001 par value per share (Title of Class of Securities) 782011100 (CUSIP Number) January 22, 2024 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [X] Rule 13d-1(c) [_] Rule 13d-1(d) __________ *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Act or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 782011100 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Divisadero Street Capital Management, LP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,252,754 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,252,754 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,252,754 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.9% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA, PN CUSIP No. 782011100 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) William Zolezzi 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,252,754 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,252,754 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,252,754 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.9% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN, HC CUSIP No. 782011100 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Divisadero Street Partners, L.P. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,252,754 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,252,754 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,252,754 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.9% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 782011100 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Divisadero Street Partners GP, LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,252,754 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,252,754 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,252,754 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.9% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC, OO CUSIP No. 782011100 Item 1. (a). Name of Issuer: Rush Street Interactive, Inc. (b). Address of issuer's principal executive offices: 900 N. Michigan Avenue, Suite 950 Chicago, IL 60611 Item 2. (a). Name of person filing: Divisadero Street Capital Management, LP Divisadero Street Partners, L.P. Divisadero Street Partners GP, LLC William Zolezzi Divisadero Street Capital Management, LP is the investment adviser to private investment funds, including Divisadero Street Partners, L.P., and Divisadero Street Partners GP,

View Full Filing

View this SC 13G filing on SEC EDGAR