Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 36

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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29, 2021, which was the completion of the TDAC Combination or earlier upon redemption or liquidation.

The
Company may redeem the Public Warrants:

    ●
    in
    whole and not in part;

    ●
    at
    a price of $0.01 per warrant;

    ●
    upon
    a minimum of 30 days’ prior written notice of redemption;

    ●
    if,
    and only if, the last sale price of the Company’s common stock equals or exceeds $320.00 per share for any 20 trading days
    within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption
    to the warrant holders; and

    ●
    if,
    and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants
    at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the
    date of redemption.

     F-20 

If
the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the
Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. These warrants cannot be net cash
settled by the Company in any event.

After giving effect to the Business Combination,
as of March 31, 2025 there were Public Warrants outstanding for the issuance of 20,125,000 shares of common stock of the Company, which
total includes previously issued warrants of AutoLotto, now warrants of Lottery.com Inc. In addition other warrants from 2015 and
2018 are exercisable for the purchase of an aggregate of 19,784 shares of common stock of the Company, the majority of which will
expire in October of 2025.

An adjustment was made to the Company’s
warrants based on the 1-for-20 split ratio. The adjustment was made automatically. The number of shares of common stock issued subject
to stock options, warrants, or convertible securities was automatically decreased by the split ratio and the exercise price or conversion
ratio will automatically be proportionately increased by the same split ratio.

Private
Warrants

Private
warrants of TDAC issued before the business combination were forfeited and did not transfer to the surviving entity.

Common
Stock Warrants

The
Company did