Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 7

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 7
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 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 pursuant to the
Common Stock Purchase Warrant pursuant to Exhibit A to Exhibit 10.31, the “Registration Rights Agreement.”

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 4.99% 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. The Company expects that any proceeds received by it from such sales to Investor 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, pursuant to which the Company agreed to register for resale ordinary
shares underlying the Stock Purchase Agreement.

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 which the Investor shall have made payment of Puts pursuant to the Stock Purchase Agreement in the aggregate amount