Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 228

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 8
Chunk 228
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.74
GBP (the “Purchase Price”), approximately $7,594,677.54
US dollars, in two tranches. Tranche One shall be an all-cash payment of Two Million British Pounds Sterling, (£2,000,000)
(approximately equivalent as of the time of the transaction to $2,676,415.77
US dollars). In return for the Tranche One payment, the Company will receive 1,663
A1 shares of Veloce stock valued at £1,224.74
per share (approximately equivalent to $1,639.01
US dollars) and a commensurate ownership stake of 4.74%.
The Tranche Two remaining payment of the Purchase Price will be for £3,675,444.74
(approximately equivalent to $4,918,659.05
US dollars) of which a not less than £1,187,500.00
(approximately equivalent to $1,589,165.94
US dollars) must be in cash with the remaining balance of £2,487,944.74
(approximately equivalent to $3,29,508.98
US dollars) paybale in either cash or restricted shares of common stock of the Company to be applied towards the Purchase Price at a
fixed price per Company share of One Dollar USD ($1.00)
per share (the “Fixed Price”) irrespective of the trading price of the Company’s common stock on the
Tranche Two payment date. Completion of Tranche Two will result in the Company receiving 3,000
A1 shares of Veloce stock valued at £1,224.74
per share (approximately equivalent to $1,639.01
US dollars) per share resulting in the Company’s minimally owning 12.4%
of Veloce. Further as a result of the completion of Tranche Two, he Company will receive two director seats on
Veloce’s Board of Directors.

The
separate Call Option Agreement allows the Company to purchase newly issued share capital in Veloce at a pre-money £50,000,000
valuation (approximately equivalent to $66,907,363.01
US dollars) towards its Fifty-One (51%)
percent optimal target ownership interest. To fully exercise its Call Option, the Company must have already completed payments
defined above as Tranche One and Tranche Two, and have made offers to Veloce’s shareholders to