Company: LTRYW
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001641172-25-009053
Chunk: 128

Company: Lottery.com Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 128
---
 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 Selling
Shareholder’s shares 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 Selling Shareholder. Actual sales of our ordinary shares
to Investor Selling Shareholder 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 Selling Shareholder to accept any Put pursuant to a Put Notice is subject to customary conditions, including that Investor
Selling Shareholder is not required to purchase any ordinary shares pursuant to a Put if it would result in Investor Selling Shareholder
beneficially owning in excess of 4.99% of the Company’s ordinary shares, and that the ordinary shares subject to the Put be
registered for resale.

The net proceeds
under the Stock Purchase Agreement to the Company will depend on the frequency and prices at which the Company sells ordinary shares
to Investor Selling Shareholder. The Company expects that any proceeds received by it from such sales to Investor Selling Shareholder
will be used for working capital and general corporate purposes.

The Stock Purchase
Agreement contains customary representations, warranties, conditions and indemnification obligations of the parties. The representations,
warranties and covenants contained in such agreements were made only for purposes of such agreements and as of specific dates, were solely
for the benefit of the parties to such agreements and may be subject to limitations agreed upon by the contracting parties. The Stock
Purchase Agreement contains restrictions on the Company’s ability to enter into any Variable Rate Transaction (as defined in the
Stock Purchase Agreement).

The Company further
entered into a Registration Rights Agreement with Investor Selling Shareholder, pursuant to which the Company agreed to register
for resale ordinary shares underlying the Stock Purchase Agreement. Those shares are registered pursuant to this Prospectus.

The Stock Purchase
Agreement shall only terminate upon the following events: (i) the first day of the month following the 60-month anniversary of the Effective
Date, (ii) the date on