Company: LTRYW
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001641172-25-009053
Chunk: 167

Company: Lottery.com Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 167
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 Selling Shareholder 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 Selling Shareholder 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 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.

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As per the terms of the Stock
Purchase Agreement, the Company will issue 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 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