Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 12

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1
Chunk 12
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reported on form 8-K filed with the SEC on February 22, 2024, on February 16, 2024, the Company and UCIL entered into an “ Amendment
and Restatement Agreement No. 2” to the UCIL Loan Agreement to increase the amount of the UCIL Credit Facility from $49,000,0000
to $149,000,000 (the “ UCIL Amendment”).

Placement
Agent Agreement with Univest Securities, LLC

As
reported on form 8-K filed with the SEC on February 6, 2024, on December 6, 2023, the Company entered into a placement agent agreement
(the “ Placement Agent Agreement”) with Univest Securities, LLC (the “ Placement Agent”), whereby the Placement
Agent agreed to act as placement agent in connection with the Company’s offering (“ Offering”) of units (“ Units”)
up to $1,000,000; each Unit consisting of a convertible promissory note (each, a “ Convertible Note” or collectively, the
“ Convertible Notes”), and a common stock purchase warrant (each, a “ Warrant”, or collectively, the “ Warrants”)
in order for investors placed by it to purchase shares of common stock of the Company, par value $0.001 per share (the “ Common
Stock”). Each Unit under the Offering includes specific registration rights (“ Registration Rights”), for each investor
obtained through the Placement Agent.

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”).

Operations Prior to 2022 Operational Cessation

Prior to the 2022 Operational
Cessation, the Company was primarily a provider of domestic lottery products and services (subsidiary operations in Mexico, such as Aganar
and JuegaLotto in Mexico, and TinBu in the U. S. were unaffected by the 2022 Operational Cessation and continued operations, including
lottery sales and the generation of revenue). It is the Company’s intention to become a primary provider of U. S.-centric lottery
products and services again. As an independent third-party lottery game service, with principal operations headquartered