Company: LTRYW
Filing Date: 2025-04-09
Form Type: 10-K/A
Source: 0001641172-25-003412
Chunk: 168

Company: Lottery.com Inc.
Filing Date: 2025-04-09
Form: 10-K/A
Chunk 168
---
 Public Warrants outstanding for the issuance of 1,006,250shares
of common stock of the Company, which total includes previously issued warrants of AutoLotto, now warrants of Lottery.com Inc.,
which are exercisable for the purchase of an aggregate of 19,784shares
of common stock of the Company.

Private Warrants

Private warrants of TDAC issued before the business combination were forfeited and did not transfer to the surviving entity.

Unit Purchase Option

On June 1, 2018, the Company sold to the underwriter (and its designees), for $ 100, an option to purchase up to a total of 87,500Units exercisable at $ 240.00per Unit (or an aggregate exercise price of $ 21,000,000) commencing on the consummation of the Business Combination. The 87,500Units represents the right to purchase 87,500shares of common stock and 87,500warrants to purchase 87,500shares of common stock. The unit purchase option, which was exercisable for cash or on a cashless basis, at the holder’s option, expired on May 29, 2023. The Units issuable upon exercise of this option were identical to those offered by Lottery.com. The Company accounted for the unit purchase option, inclusive of the receipt of $ 100cash payment, as an expense of the Business Combination resulting in a charge directly to stockholders’ equity. As of December 31, 2023 all of the 87,500Units have been forfeit.

Common Stock Warrants

The Company did not issue any warrants during the years ended December 31, 2023 and 2022. All 24,415outstanding warrants are fully vested and have a weighted average remaining contractual life of 2.7years. The Company did not incur any expense for the year ended December 31, 2023 and 2022.

Schedule of Common Stock Warrant

|                                  |     | Number of 
 Shares    |        |     | Weighted 
 Average  
 Exercise 
 Price    |        |     | Weighted     
 Average      
 Remaining    
 Contractual  
 Life (years) |     |     | Aggregate 
 Intrinsic 
 Value     |           |
|:---------------------------------|:----|:----------|-------:|:----|:---------|-------:|:----|:-------------|----:|:----|:----------|----------:|
| Outstanding at December 31,