Company: LTRYW
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003901
Chunk: 6

Company: Lottery.com Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 6
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 to purchase from the Company up to One Hundred Million Dollars
($100,000,000) (the “Commitment Amount”) of the Company’s fully registered, freely tradable common stock (the “Common
Stock”) under certain terms and conditions. Pursuant to the terms of the Stock Purchase Agreement the Company can request a “Put”
on the purchase of its stock and the Investor has agreed to purchase the Company’s shares at ninety (90%) percent of the “Market
Price.” Market Price shall be defined as the average VWAP of the common stock twenty trading days immediately preceding the Put.
“Maximum Put Amount”The dollar amount of Common Stock sold to the Investor in each Put may not be less than $20,000.00 and the maximum amount
will equal 100% of the Average Daily Trading Volume. The Maximum Put Amount may be increased upon mutual written consent of the Company
and the Investor. Puts are further limited to Investor owning no more than 4.99% of the Common Stock at any given time.

As per the
terms of the Stock Purchase Agreement, the Company issued to the Investor a Commitment Fee of 512,662 shares of Common Stock
and a prefunded Common Stock Purchase Warrant for 1,906,693 shares. After drawing down half of the Commitment Amount, the Company
shall issue an additional 1.5% of half of the Commitment Amount in an amount to equal shares of the Company’s common stock,
not to exceed 4.99% of the Company’s issued and outstanding. Any amount that would exceed 4.99% of the Company’s issued
and outstanding shall be issued in the form of a prefunded Common Stock Purchase Warrant. The aggregate exercise price of this
Warrant was pre-funded to the Company prior to any exercise 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 pursuant to the Common Stock Purchase Warrant pursuant to Exhibit A,
the “Registration Rights Agreement.”

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