Company: LTRYW
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001641172-25-009053
Chunk: 94

Company: Lottery.com Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 94
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’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 Selling Shareholder 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 Selling Shareholder. Puts are further limited to Investor Selling Shareholder
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 Selling Shareholder 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 Selling
Shareholder’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 Selling Shareholder. Actual sales of our
ordinary shares to Investor Selling Shareholder 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 Selling Shareholder to accept any Put pursuant to a Put Notice is subject to customary conditions, including