Company: LTRYW
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001641172-25-009053
Chunk: 107

Company: Lottery.com Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 107
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 the Woodford Loan Agreement. Given the
protracted uncertainty of the continued financing under the Woodford Loan Agreement, the Board of Directors sought to secure and formalize
the Company’s alternative funding by entering into the UCIL Loan Agreement.

A total of $697,000
has been received from UCIL. $682,000 has been converted from debt to equity and the balance as of December 31, 2024 for
investors placed by UCIL is $15,000.

Placement Agent Agreement withUnivest Securities, LLC

As reported on form
8-K filed with the SEC on February 6, 2024, on December 6, 2023, the Company entered into a placement agent agreement (the “Placement
Agent Agreement”) with Univest Securities, LLC ( the “Placement Agent”), whereby the Placement Agent agreed
to act as placement agent in connection with the Company’s offering (“Offering”) of convertible debt with warrant coverage
at 50% up to $1,000,000; consisting of a convertible promissory note (each, a “Convertible Note” or collectively,
the “Convertible Notes”), and a common stock purchase warrant (each, a “Warrant”, or collectively, the
“Warrants”) to purchase shares of common stock of the Company, par value $0.001 per share (the “Common Stock”)
which includes specific registration rights (“Registration Rights”), directly to one or more investors (each, an “Investor”
and, collectively, the “Investors”) through the Placement Agent.

On February 1,
2024, the parties agreed to increase the offering amount from $1,000,000 to $5,000,000. All other terms and conditions of the offering
remain the same. The Securities shall be offered and sold pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended (the
“Securities Act”).

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Business Combination

On October 29, 2021, we, as AutoLotto, Inc (“AutoLotto”), consummated the Business Combination with Trident Acquisitions Corp. (“TDAC” and after the Business Combination described herein, the “Company”), pursuant to the terms of that certain Business Combination Agreement, dated as of February 21, 2021 (the “Business Combination Agreement”), by and among TDAC, Trident Merger Sub II Corp., a wholly-owned subsidiary of TDAC (“Merger Sub”) and AutoL