Company: LTRYW
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001641172-25-009053
Chunk: 95

Company: Lottery.com Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 95
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that Investor Selling Shareholder is not required to purchase any ordinary shares pursuant to a Put if it would result in Investor
Selling Shareholder beneficially owning in excess of 4.99% of the Company’s ordinary shares, and that the ordinary shares subject
to the Put be registered for resale.

The
net proceeds under the Stock Purchase Agreement to the Company will depend on the frequency and prices at which the Company sells ordinary
shares to Investor Selling Shareholder. The Company expects that any proceeds received by it from such sales to Investor Selling
Shareholder will be used for working capital and general corporate purposes.

The
Stock Purchase Agreement contains customary representations, warranties, conditions and indemnification obligations of the parties. The
representations, warranties and covenants contained in such agreements were made only for purposes of such agreements and as of specific
dates, were solely for the benefit of the parties to such agreements and may be subject to limitations agreed upon by the contracting
parties. The Stock Purchase Agreement contains restrictions on the Company’s ability to enter into any Variable Rate Transaction
(as defined in the Stock Purchase Agreement).

The
Company further entered into a Registration Rights Agreement with Investor Selling Shareholder, pursuant to which the Company
agreed to register for resale ordinary shares underlying the Stock Purchase Agreement. Those shares are registered pursuant to this Prospectus.

The
Stock Purchase Agreement shall only terminate upon the following events: (i) the first day of the month following the 60-month anniversary
of the Effective Date, (ii) the date on which the Investor Selling Shareholder shall have made payment of Puts pursuant to the
Stock Purchase Agreement in the aggregate amount of the Commitment Amount, or (iii) at such time that the Registration Statement is no
longer effect. The Stock Purchase Agreement may be terminated by the Company after commencement, at the Company’s discretion; provided,
however, that if the Company sold less than $5,000,000 to Investor Selling Shareholder, Company will pay to Investor Selling
Shareholder a termination fee of $1,000,000, which is payable, at our option, in cash or in shares of common stock at a price equal
to the closing price on the day immediately preceding the date of receipt of the termination notice.

Any investment in the securities offered hereby is speculative and involves a high degree of risk. You should carefully consider the information set forth under “ Risk Factors” beginning on page 6 of this prospectus.

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