Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 172

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 172
---
ation.

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-23 |

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 December 31, 2024 there were 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.

An adjustment was made to the Company’s
warrants based on the 1-for-20 split ratio. The adjustment was 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 will automatically be 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.

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