Lottery.com amends loan conversion mechanics to comply with Nasdaq voting rules

Sports Entertainment Gaming Global Corp

Amendment to UCIL loan agreement adds 4.99% beneficial ownership disclosure threshold on conversion.
Issuance capped at 19.99% of outstanding shares unless stockholder approval obtained under Nasdaq rules.
Parties acknowledge Nasdaq rules may require additional disclosure if threshold exceeded.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Sports Entertainment Gaming Global Corp amended Amended and Restated Loan Agreement with United Capital Investments London Limited valued at amendment to conversion mechanics (effective 2023-08-18).

Action: amendment
Agreement: credit facility
Counterparty: United Capital Investments London Limited
Value: amendment to conversion mechanics
Effective: 2023-08-18

Exact text from the filing

On August 18, 2023, Lottery.com Inc. (the “Company”) entered into an amendment (the “Amendment”) to its amended and restated loan agreement, dated as of August 8, 2023 (as amended, the “UCIL Loan Agreement”), with United Capital Investments London Limited (“UCIL”), to make certain technical amendments to the conversion mechanics therein to comply with Nasdaq’s listing rules relating to stockholder voting rights.

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Source: SEC EDGAR

accession 0001493152-23-030096

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