Company: LTRYW
Filing Date: 2025-05-14
Form Type: S-1/A
Source: 0001641172-25-010091
Chunk: 151

Company: Lottery.com Inc.
Filing Date: 2025-05-14
Form: S-1/A
Chunk 151
---
Kind within three business days following the Closing
Date. Any Payment-In-Kind made as part of the consideration to satisfy any portion of the Purchase Price shall carry full piggyback registration
rights for the benefit of the Seller.

In the event that the closing price of the restricted
stock units of common shares in Lottery.com Inc. to be issued to the Seller as above is lower than the Fixed Price on April 30, 2026
(the “Reprice Date”), then the Fixed Price shall be adjusted downward to the VWAP of the common stock for the five
(5) consecutive trading days immediately preceding the Reprice Date (the “Market Price”). Accordingly, the Company
shall be obligated to tender Seller additional restricted stock units of common shares in Lottery.com Inc. to make up the difference
between the Fixed Price and the Market Price.

The Transaction contemplated by the LOI is subject
to, among other things, the execution and delivery of a mutually agreeable agreement containing the principal terms stated in the LOI
and additional representations, warranties, covenants, and other agreements that are customary for a transaction of this type.

Any obligation for the Company to consummate
the Transaction contemplated in the LOI or the agreement is subject to and conditioned upon approval by (a) the Company’s board
of directors or (b) the Company’s shareholders and obtaining Nasdaq, Security and Exchange Commission or other regulatory approval
or in compliance with all applicable governmental and quasi-governmental authorities.

Unless otherwise mutually agreed by the, the
completion of the Transaction for Majority Interest of DVI shall occur on or before August 1, 2025. The Company currently anticipates
that the execution of the transaction shall occur on or before June 30, 2025.

Competitive Strengths

We believe our definitional brand names, early entry in the growing iLottery industry; strength of our distribution ecosystem; cross-over opportunities between our brands; and existing relationships in the football/soccer, motorsports, and boxing industries collectively contribute to our success as a leading provider of products and services for the domestic and international gaming and sports industries and strengthens our differentiation from our competitors.

Definitional Brand Names

We believe that the simplicity and definitional nature of our “Lottery.com” and “Sports.com” domains and brand names provide us with memorable, distinctive and easily identifiable brands by our users.

Strong Distribution Ecosystem

In addition to the organic growth of users of our B2C Platform and purchasers of lottery games from third