M&A - Lottery.com Inc.
Form Type: 8-K
Filing Date: 2025-03-11
Corporate Action: Acquisition
Type: New
Accession Number: 000149315225009806
Filing Summary: On March 6, 2025, Lottery.com Inc. finalized an agreement with PlusEVO Ltd. for the acquisition of Spektrum, Ltd. under a Stock Purchase and Sale Agreement. The acquisition aims to facilitate Lottery.com's expansion into the international lottery market and is scheduled to close on or before March 13, 2025. The total Purchase Price for the acquisition is $1,500,000, to be paid in restricted stock units valued at $3.00 per share. Payment will occur in five installments following a specific schedule, with each installment set to vest over a defined period and include registration rights for the Seller’s shareholders. If the closing price of shares issued falls below the fixed purchase price after six months, an adjustment mechanism is in place to issue additional restricted stock units to the Seller’s shareholders to maintain the agreed price.
Document Link: View Document
Additional details:
Purchase Price: $1,500,000
Exercise Price: $3.00
First Payment Amount: $300,000
Second Payment Amount: $300,000
Third Payment Amount: $300,000
Fourth Payment Amount: $300,000
Fifth Payment Amount: $300,000
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