Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 37

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 37
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Public Warrants

The Public Warrants became exercisable 30
days after the Closing; the Company has an effective registration statement under the Securities Act covering the shares of common stock
issuable upon exercise of the Public Warrants and a current prospectus relating to them is available (or the Company permits holders to
exercise their Public Warrants on a cashless basis and such cashless exercise is exempt from registration under the Securities Act). The
S-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 whole and not in part; |

| ● | at a price of $0.01 per warrant; |

| ● | upon a minimum of 30 days’ prior written notice of redemption; |

| ● | if, and only if, the last sale price of the Company’s common stock equals or exceeds $320.00 per share for any 20 trading days          
 within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to 
 the warrant holders; and                                                                                                                |

| ● | if, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants 
 at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date   
 of redemption.                                                                                                                           |

| F-21 |

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 March 31, 2025 there were Public Warrants outstanding for the issuance of 20,125,000
shares of common stock of the Company, which total includes previously issued warrants of AutoLotto, now warrants of Lottery.com
Inc.,. In addition other warrants from 2015 and 2018 are exercisable for the purchase of an aggregate of 19,784
shares of common stock of the Company, the majority of which will expire in October of 2025.

An adjustment was made to the Company’s