Company: LTRYW
Filing Date: 2025-02-10
Form Type: DEF 14A
Source: 0001493152-25-005681
Chunk: 16

Company: Lottery.com Inc.
Filing Date: 2025-02-10
Form: DEF 14A
Chunk 16
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VERSE STOCK SPLIT PROPOSAL</div>

Our Board has approved, and
is recommending that our stockholders approve, proposed amendments to our Certificate of Incorporation to effect a reverse stock split
(the “Reverse Stock Split”) of all of the issued and outstanding shares of our Common Stock at a ratio of between one-for-2
(1:2) and one-for-thirty (1:30) (inclusive), with such ratio to be determined at the sole discretion of our Board and with
such Reverse Stock Split to be effected at such time and date, if at all, as determined by our Board in its sole discretion. The text
of the proposed form of Certificate of Amendment to our Certificate of Incorporation (the “Certificate of Amendment”) to
effect the Reverse Stock Split is attached as Appendix A to this Proxy Statement. However, the text of the proposed amendments
is subject to revision to include such changes as may be required by the Secretary of State of the State of Delaware and as our Board
deems necessary or advisable to effect the proposed amendment of our Certificate of Incorporation.

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By approving this proposal, stockholders will approve a series of amendments to our Certificate of Incorporation pursuant to which any whole number of outstanding shares between and including two and thirty would be combined into one share of our Common Stock, and authorize our Board to file only one such amendment, as determined by our Board in the manner described herein, and to abandon each amendment not selected by the Board. Our Board believes that stockholder approval of amendments granting our Board this discretion, rather than approval of a specified stock split ratio, provides our Board with maximum flexibility to react to then-current market conditions and, therefore, is in the best interests of the Company and its stockholders. Our Board may effect only one Reverse Stock Split as a result of this authorization. Our Board may also elect not to do any Reverse Stock Split. The Reverse Stock Split will take effect, if at all, only after it is (i) approved by the affirmative vote of a majority of the shares of outstanding Common Stock entitled to vote on the matter, (ii) is deemed by the Board to be in the best interests of the Company and its stockholders, and (iii) after filing the amendment to our Certificate of Incorporation with the Secretary of State of the State of Delaware. If the Certificate of Amendment is filed with the Secretary of State of the State of Delaware, the Certificate of Amendment will effect the Reverse Stock Split by reducing the outstanding number of shares