Company: LTRYW
Filing Date: 2025-12-10
Form Type: PRE 14A
Source: 0001493152-25-027089
Chunk: 21

Company: Lottery.com Inc.
Filing Date: 2025-12-10
Form: PRE 14A
Chunk 21
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. (the “Alpha”), entered a Stock Purchase Agreement and Common Stock Purchase Warrant (the “Stock Purchase Agreement”). Alpha 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, however, the terms and conditions of the Stock Purchase Agreement with Alpha was amended on June 12, 2025 (the “Amendment”) (collectively, the Stock Purchase Agreement and Amendment shall be referred to herein as the “Alpha Credit Facility”. Pursuant to the terms of the Amendment, the Commitment Amount was increased to Three Hundred Million Dollars ($300,000,000) and the Company received some additional and more favorable terms from Alpha as compared to the original Stock Purchase Agreement. Accordingly, the Company can request a “Put” on the purchase of its stock and the Alpha has agreed to purchase the Company’s shares at ninety-four (94%) percent of the “Market Price.” Market Price shall be defined as the average VWAP of the common stock during the Valuation Period. Valuation Period is defined in the Amendment as “the trading day or trading days of all the stock from the Put Notice that was sold by the Alpha and such sale of all of the stock from the Put Notice shall not exceed five (5) trading days after the Put Shares have been accepted and cleared by Alpha’s brokerage firm.” Alpha is restricted from 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 Alpha 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