Company: LTRYW
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001641172-25-009053
Chunk: 168

Company: Lottery.com Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 168
---
 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 the
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 which the Investor Selling Shareholder shall have made payment of Puts pursuant to the Stock Purchase Agreement
in the aggregate amount of the Commitment Amount, or (iii) at such time that the Registration Statement is no longer effect. The Stock
Purchase Agreement may be terminated by the Company after commencement, at the Company’s discretion; provided, however, that if
the Company sold less than $5,000,000 to Investor Selling Shareholder, Company will pay to Investor Selling Shareholder
a termination fee of $1,000,000, which is