Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 94

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 94
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 and, consequently, no additional consideration shall be required to be paid. The Stock Purchase
Agreement is attached hereto as Exhibit 10.31. In addition, the Company has agreed to register the Investor’s shares and the
shares issuable upon exercise of the Common Stock Purchase Warrant pursuant to Exhibit A, the “Registration Rights Agreement.”
Those shares are being registered pursuant to this Prospectus.

The
Company will control the timing and amount of any sales of ordinary shares to Investor. Actual sales of our ordinary shares to Investor
as a Put under the Stock Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, which
may include, among other things, market conditions, the trading price of the Company’s ordinary shares and determinations by the
Company as to the appropriate sources of funding for its business and operations.

The
obligations of Investor to accept any Put pursuant to a Put Notice is subject to customary conditions, including that Investor is not
required to purchase any ordinary shares pursuant to a Put if it would result in Investor beneficially owning in excess of 4.99% of the
Company’s ordinary shares, and that the ordinary shares subject to the Put be registered for resale.

The
net proceeds under the Stock Purchase Agreement to the Company will depend on the frequency and prices at which the Company sells ordinary
shares to Investor. The Company expects that any proceeds received by it from such sales to Investor will be used for working capital
and general corporate purposes.

The
Stock Purchase Agreement contains customary representations, warranties, conditions and indemnification obligations of the parties. The
representations, warranties and covenants contained in such agreements were made only for purposes of such agreements and as of specific
dates, were solely for the benefit of the parties to such agreements and may be subject to limitations agreed upon by the contracting
parties. The Stock Purchase Agreement contains restrictions on the Company’s ability to enter into any Variable Rate Transaction
(as defined in the Stock Purchase Agreement).

The
Company further entered into a Registration Rights Agreement with Investor, pursuant to which the Company agreed to register for resale
ordinary shares underlying the Stock Purchase Agreement. Those shares are registered pursuant to this Prospectus.

The
Stock Purchase Agreement shall only terminate upon the following events: (i) the first day of the month following the 60-month anniversary
of the Effective Date, (ii) the date on which the Investor shall have made payment of Puts pursuant to the Stock Purchase Agreement in
the aggregate