---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-026320"
form_type: "8-K"
ticker: "SEGG"
cik: "0001673481"
company_name: "Sports Entertainment Gaming Global Corp"
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T18:32:03.273982+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lottery.com enters $50M credit facility with UCIL; resolves Nasdaq audit committee issue

## Summary
- $1M initial loan with warrants for 4.5-15% of outstanding common stock; accordion up to $49M at lender's discretion.
- Interest rate 10% per annum; conversion option at $0.075/share or fair value with 20% discount.
- Lender UCIL is related to interim CEO Matthew McGahan and board member Barney Battles.
- Company disputes default notices from prior lender Woodford Eurasia Assets under separate loan agreement.
- Nasdaq confirms compliance with audit committee independence rule following board appointments.

## SEC filing metadata
- accession: 0001493152-23-026320
- form_type: 8-K
- ticker: SEGG
- cik: 0001673481
- company_name: Sports Entertainment Gaming Global Corp
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1673481/000149315223026320/0001493152-23-026320-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1673481/000149315223026320/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-026320
- JSON: https://secwatch.observer/filing/0001493152-23-026320.json
- Plain text: https://secwatch.observer/filing/0001493152-23-026320.txt

## Key facts
- Material Agreements
  Sports Entertainment Gaming Global Corp entered into Credit Facility with United Capital Investments London Limited valued at $1,000,000 Initial Loan; up to $49,000,000 Accordion; 10% interest per annum; warrants for 4.5%-15% (effective 2023-07-26).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: United Capital Investments London Limited
  - Value: $1,000,000 Initial Loan; up to $49,000,000 Accordion; 10% interest per annum; warrants for 4.5%-15%
  - Effective: 2023-07-26
  source text: On July 26, 2023, Lottery.com Inc. (the "Company") entered into a credit facility (the "Credit Facility") with United Capital Investments London Limited ("UCIL").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1673481/000149315223026320/0001493152-23-026320-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.