Company: LTRYW
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001493152-25-002444
Chunk: 99

Company: Lottery.com Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 99
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, a “Convertible Note” or collectively, the “Convertible Notes”), and common
stock purchase warrants (each, a “Warrant”, or collectively, the “Warrants”) to purchase shares of common stock
of the Company, par value $0.001 per share (the “Common Stock”) which include specific registration rights (“Registration
Rights”), offered directly to one or more investors (each, an “Investor” and, collectively, the “Investors”)
through Univest. If the “Conversion Price” on the six (6) month anniversary of the Issuance Date is lower than the Conversion
Price on the Issuance Date, then the Conversion Price shall be adjusted downward to the VWAP of the Common Stock for the five (5) consecutive
Trading Days immediately preceding the six (6) month anniversary date.

On February 1,
2024, the parties agreed to increase the offering amount from $1,000,000 to $5,000,000. All other terms and conditions of the offering
remain the same. The Securities shall be offered and sold pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended (the
“Securities Act”).

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Business Combination

On October 29, 2021, we, as AutoLotto, Inc (“AutoLotto”), consummated the Business Combination with Trident Acquisitions Corp. (“TDAC” and after the Business Combination described herein, the “Company”), pursuant to the terms of that certain Business Combination Agreement, dated as of February 21, 2021 (the “Business Combination Agreement”), by and among TDAC, Trident Merger Sub II Corp., a wholly-owned subsidiary of TDAC (“Merger Sub”) and AutoLotto. Pursuant to the terms of the Business Combination Agreement, Merger Sub merged with and into AutoLotto with AutoLotto surviving the merger as a wholly owned subsidiary of TDAC, which was renamed “Lottery.com Inc.” The aggregate value of the consideration paid by TDAC to the holders of AutoLotto common stock in the Business Combination (excluding shares that may be issued to former AutoLotto stockholders (the “Sellers”) as earnout consideration) was approximately $440 million, consisting of approximately 2,000,000 shares of common stock valued at $220.00 per share. In addition, each Seller was eligible to receive its pro rata portion of 150,000 Seller Earnout Shares and