Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 93

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1A
Chunk 93
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 law which could delay or prevent a change of control. These provisions
are intended to avoid costly takeover battles, reduce our vulnerability to a hostile change of control and enhance the ability of our
Board to maximize stockholder value in connection with any unsolicited offer to acquire us. However, these provisions may make more difficult
the removal of management, may have an anti-takeover effect and may delay, deter or prevent a merger or acquisition of us by means of
a tender offer, a proxy contest or other takeover attempt that a stockholder might consider in its best interest, including those attempts
that might result in a premium over the prevailing market price for our securities. These provisions provide for, among other things:

  authorized                                                                                                                                
  but unissued shares of common stock and preferred stock, which may be used for a variety of corporate finance transactions, acquisitions  
  and employee benefit plans and the existence of which could make more difficult or discourage an attempt to obtain control of the         
  Company by means of a proxy contest, tender offer, merger or otherwise (the DGCL does not require stockholder approval for any issuance   
  of authorized shares);                                                                                                                    
  stockholder                                                                                                                               
  action may not be by written consent (the DGCL provides that unless otherwise provided in the charter, any action of a meeting of         
  stockholders may be taken without a meeting and prior notice by signed written consent of stockholders having the minimum number          
  of votes that would be necessary to take such action at a meeting at which all shares entitled to vote thereon were present and voted);   
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  amendment                                                                                                                                 
  provisions                                                                                                                                
  advance                                                                                                                                   
  the                                                                                                                                       
  providing                                                                                                                                 
  providing                                                                                                                                 
  prohibiting                                                                                                                               

  51  

In
addition, these provisions may make it difficult and expensive for a third party to pursue a tender offer, change in control or takeover
attempt that is opposed by our management or our Board. Stockholders who might desire to participate in these types of transactions may
not have an opportunity to do so, even if the transaction is favorable to them. These anti-takeover provisions could substantially impede
any stockholder’s ability to benefit from a change in control or change our management and Board and, as a result, may adversely
affect the market price of common stock and the ability for any stockholder to realize any potential change of control premium.