Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 82

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 82
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.                                                                     |
| ● | providing                                                                                                                                
 that directors may be removed only for cause and then only by a two-thirds vote of the holders of a majority of the voting power         
 of the outstanding shares then entitled to vote in an election of directors, voting together as a single class;                          |
| ● | providing                                                                                                                                
 that vacancies on our Board, including newly-created directorships, may be filled only by a majority vote of directors then in office;   
 and                                                                                                                                      |
| ● | prohibiting                                                                                                                              
 stockholders from calling special meetings of stockholders.                                                                              |

| 37 |

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.

Risks Related to Our Common Stock and Warrants

Although we are currently in full compliance with the continued listing standards of Nasdaq, we may not be able to remain in full compliance with Nasdaq’s continued listing standards in the future.

Our
common stock and warrants trade on The Nasdaq Global Market under the symbols “LTRY” and “LTRYW,” respectively.
Our failure to remain in full compliance with these requirements may result in our securities being delisted from Nasdaq.

On
September 11, 2024, the Staff notified the Company that the bid price of its common stock had closed at less than $1 per share over the
previous 30 consecutive business days, and, as a result, did not comply with Nasdaq Listing Rule 5550(a)(1). Therefore, in accordance
with e Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days to regain compliance with such rule.

As
reported on form 8-K filed on November 1, 2024, on October 28, 2024, the Company received a letter from Nasdaq stating that based upon
its review of the Company’s Market Value of Publicly Held Shares (“MVPHS”) for the last 30 consecutive business days,
the Company no longer met the