Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 169

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 169
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,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. Puts are further limited to Investor 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 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’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. Actual sales of our ordinary shares to Investor as a Put under the
Stock Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, which may include, among
other things, market conditions, the trading price of the Company’s ordinary shares and determinations by the Company as to the
appropriate sources of funding for its business and operations.

The obligations of Investor
to accept any Put pursuant to a Put Notice is subject to customary conditions, including that Investor is not required to purchase any
ordinary shares pursuant to a Put if it would result in Investor 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.
The Company expects that any proceeds received by it from such sales to Investor will be used for