Company: LTRYW
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003901
Chunk: 91

Company: Lottery.com Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 91
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%) percent of the “Market Price.” Market Price shall be defined as the average VWAP of the common stock twenty
trading days immediately preceding the Put. “Maximum Put Amount”The dollar amount of Common Stock sold to
the Investor in each Put may not be less than $20,000.00 and the maximum amount will equal 100% of the Average Daily Trading Volume.
The Maximum Put Amount may be increased upon mutual written consent of the Company and the Investor. Puts are further limited to Investor
owning no more than 4.99% of the Common Stock at any given time.

As
per the terms of the Stock Purchase Agreement, the Company issued to the Investor a Commitment Fee of 512,662 shares of Common
Stock and a prefunded Common Stock Purchase Warrant for 1,906,693 shares. After drawing down half of the Commitment Amount, the Company
shall issue an additional 1.5% of half of the Commitment Amount in an amount to equal shares of the Company’s common stock, not
to exceed 4.99% of the Company’s issued and outstanding. Any amount that would exceed 4.99% of the Company’s issued and outstanding
shall be issued in the form of a prefunded Common Stock Purchase Warrant. The aggregate exercise price of this Warrant was pre-funded
to the Company prior to any exercise and, consequently, no additional consideration shall be required to be paid. The Stock Purchase
Agreement is attached hereto as Exhibit 10.31. In addition, the Company has agreed to register the Investor’s shares and the
shares issuable upon exercise of the Common Stock Purchase Warrant pursuant to Exhibit A, the “Registration Rights Agreement.”
Those shares are being registered pursuant to this Prospectus.

The
Company will control the timing and amount of any sales of ordinary shares to Investor. Actual sales of our ordinary shares to Investor
as a Put under the Stock Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, which
may include, among other things, market conditions, the trading price of the Company’s ordinary shares and determinations by the
Company as to the appropriate sources of funding for its business and operations.

The
obligations of Investor to accept any Put pursuant to a Put Notice is subject to customary conditions, including that Investor is not
required to purchase any ordinary shares pursuant to a Put if it would result in Investor beneficially owning in excess of 4.