Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 139

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 8
Chunk 139
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-1 registration became effective November 24, 2021. The Public Warrants will expire five years after
October 29, 2021, which was the completion of the TDAC Combination or earlier upon redemption or liquidation.

The
Company may redeem the Public Warrants:

  in                                                                                                                                    
  at                                                                                                                                    
  upon                                                                                                                                  
  if,                                                                                                                                   
  if,                                                                                                                                   

  F-23  

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 December 31, 2024 there were Public Warrants outstanding for the issuance of 1,006,250
shares of common stock of the Company, which total includes previously issued warrants of AutoLotto, now warrants of Lottery. com Inc.,
which are exercisable for the purchase of an aggregate of 19,784 shares of common stock of the Company.

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.

Unit
Purchase Option

On
June 1, 2018, the Company sold to the underwriter (and its designees), for $100, an option to purchase up to a total of 87,500 Units
exercisable at $240.00 per Unit (or an aggregate exercise price of $21,000,000) commencing on the consummation of the Business Combination.
The 87,500 Units represents the right to purchase 87,500 shares of common stock and 87,500 warrants to purchase 87,500 shares of common
stock. The unit purchase option, which was exercisable for cash or on a cashless basis, at the holder’s option, expired on May
29, 2023. The Units issuable upon exercise of this option were identical to those offered by Lottery. com.