Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 45

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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ports Arena, designed by David Lloyd.” The venue will be the first of its kind in Florida, blending
state-of-the-art sporting infrastructure with cutting-edge co-working and business amenities.

Veloce
Esports Limited Investment

On
July 14, 2025, the Company announced that it had entered into a Subscription Agreement (the “Subscription Agreement”)
and a Call Option Agreement (the “Call Option”) with Veloce Esports Limited (“Veloce”). The agreements
outline the intent of the Company to purchase a minimum of 12.4% and up to a 51% ownership stake in Veloce. In its most recent fiscal
year ended March 2025, Veloce reported £12.8 million ($17.5 million USD) in revenue. Veloce   has built the world’s
largest racing and gaming media network with more than 750 million monthly digital views and reaches a rapidly growing Gen-Z and millennial
audience.

The
Subscription Agreement calls for the Company to pay Veloce £5,675,444.74
GBP (the “Purchase Price”), approximately $7,594,677.54
US dollars, in two tranches. Tranche One shall be an all-cash payment of Two Million British Pounds Sterling, (£2,000,000)
(approximately equivalent as of the time of the transaction to $2,676,415.77
US dollars). In return for the Tranche One payment, the Company will receive 1,663
A1 shares of Veloce stock valued at £1,224.74
per share (approximately equivalent to $1,639.01
US dollars) and a commensurate ownership stake of 4.74%.
The Tranche Two remaining payment of the Purchase Price will be for £3,675,444.74
(approximately equivalent to $4,918,659.05
US dollars) of which a not less than £1,187,500.00
(approximately equivalent to $1,589,165.94
US dollars) must be in cash with the remaining balance of £2,487,944.74
(approximately equivalent to $3,29,508.98
US dollars) paybale in either cash or restricted shares of common stock of the Company to be applied towards the Purchase Price at a
fixed price per Company share of One Dollar USD ($1.00)
per share (the