Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 41

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 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-20 

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 September 30, 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 warrants based on the 1-for-10 split ratio pursuant to the August 28, 2025 stock split. Previously
an adjustment was made to the Company’s warrants based on the 1-for-20 split ratio pursuant to the August 09, 2023 stock split.
The adjustments to warrants were made automatically. The number of shares of common stock issued subject to stock options, warrants,
or convertible securities was automatically decreased by the split ratio and the exercise price or conversion ratio was automatically
proportionately increased by the same split ratio.

Private
Warrants

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

Common
Stock Warrants

The
Company did not issue any warrants during the three months ended September 30, 2025. During the year ended December 31, 2024, the Company
issued 45,837 warrants to a third-party consulting firm and 199,671 warrants as part of the commitment fee pursuant to the Stock Purchase
Agreement with Generating Alpha. The 24,415 outstanding warrants issued prior to January 1, 2023 are fully vested