Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 93

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 93
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 stock
warrants (the “Commitment Warrant Shares”) issued to the Investor as a commitment fee upon the execution of a stock purchase
agreement dated November 13, 2024 (the Stock Purchase Agreement”), (iii) 2,810,597 to certain selling shareholders and (iv) 458,370 shares
of common stock issuable upon exercise of warrants to certain consultants.

Stock Purchase Agreement and Common Stock Purchase Warrant

On
November 13, 2024, the Company and Generating Alpha Ltd. (the “Investor”), entered a Stock Purchase Agreement and Common
Stock Purchase Warrant (“Stock Purchase Agreement”). The Investor has agreed 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