Company: LTRYW
Filing Date: 2025-05-14
Form Type: S-1/A
Source: 0001641172-25-010091
Chunk: 3

Company: Lottery.com Inc.
Filing Date: 2025-05-14
Form: S-1/A
Chunk 3
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 declared effective by the SEC and will continue for 18 months. At the discretion of our board of directors,
we may discontinue the offering before expiration of the 18-month period.

We will receive proceeds from the issuance and sale of our primary offering of common stock. We will not receive any proceeds from the sale of shares of common stock or warrants by the Selling Shareholders pursuant to this prospectus, except with respect to amounts received by us upon exercise of the warrants to the extent such warrants are exercised for cash.

We are registering the resale
of up to 25,688,622 shares of common stock, comprised of (i) 20,000,000 (*) Stock Purchase Agreement Shares (as defined below), (ii)
2,810,897 shares of common stock, (iii) 458,370 shares of common stock issuable upon exercise of outstanding warrants and (iii) 1,906,693
prefunded warrants (together the “Commitment Fee Warrant Shares”) and (iv) 512,662 shares of common stock issued to the Investor
Selling Shareholder as a commitment fee (the “Commitment Fee Shares”) upon the execution of a stock purchase agreement
dated November 13, 2024 (the “Stock Purchase Agreement”). See “Stock Purchase Agreement and Common Stock Purchase Warrant”
with respect to the Stock Purchase Agreement and Common Stock Purchase Warrant entered with Generating Alpha Ltd dated November 13, 2024
for a description of the terms and conditions of the Stock Purchase Agreement including the Stock Purchase Agreement Shares, the Initial
Commitment Fee Shares, and the Additional Commitment Fee Shares.

The prices at which
the Investor Selling Shareholder must purchase shares offered hereby will be determined by the prevailing market price for the
shares pursuant to the Stock Purchase Agreement. We are not selling any securities other than to the Investor Selling Shareholder
with respect to the Stock Purchase Agreement and will not receive any of the proceeds from the sale of shares of common stock by
the Investor Selling Shareholder. However, we may receive up to $100,000,000 in aggregate gross proceeds under the Stock Purchase
Agreement.

(*) Based on the terms, the number of shares that may be sold under the Stock Purchase Agreement is indefinite. The Company has determined with the consent of the Investor Selling Shareholder to only register 20,000,000 shares at this time as an estimate of shares to be potentially sold within the next 12 months.

Our common stock is listed on The Nasdaq