Lottery.com boosts credit facility to $149M; Prosperity Investment begins $18M funding

Sports Entertainment Gaming Global Corp

Total loan capacity increased by $100M to $149M via Amendment No. 2 dated Feb 16, 2024.
Prosperity Investment Management began funding $18M commitment through UCIL loan agreement.
Loan carries 10% annual interest; conversion price floor of $1.50/share subject to Nasdaq rules.
Borrower is Lottery.com (LTRY); warrants (LTRYW) also listed on Nasdaq.
Amendment restates loan agreement originally dated July 2023, as amended Aug 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sports Entertainment Gaming Global Corp entered into Loan Agreement with United Capital Investments London Limited valued at $49,000,000 (effective 2023-07-26).

Action: entry
Agreement: credit facility
Counterparty: United Capital Investments London Limited
Value: $49,000,000
Effective: 2023-07-26

Exact text from the filing

on July 26, 2023, Lottery.com Inc. (the “Company”) entered into a Loan Agreement with United Capital Investments London Limited (“UCIL”) which included a supplemental credit facility, at the Company’s written request and at UCIL’s sole discretion, for an amount up to a total of $49,000,000 in supplemental funding (the “Accordion”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sports Entertainment Gaming Global Corp amended Amendment and Restatement Agreement No. 2 with United Capital Investments London Limited valued at $149,000,000 (effective 2024-02-16).

Action: amendment
Agreement: credit facility
Counterparty: United Capital Investments London Limited
Value: $149,000,000
Effective: 2024-02-16

Exact text from the filing

On February 16, 2024, the Company and UCIL entered into an “Amendment and Restatement Agreement No. 2” to the “Amended and Restated Loan Agreement” to increase the amount of the Accordion from $49,000,000 to $149,000,000 (the “Amendment”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sports Entertainment Gaming Global Corp amended Amended and Restated Loan Agreement with United Capital Investments London Limited (effective 2023-08-08).

Action: amendment
Agreement: credit facility
Counterparty: United Capital Investments London Limited
Effective: 2023-08-08

Exact text from the filing

on August 18, 2023, the Company amended the Loan Agreement with UCIL resulting in an “Amended and Restated Loan Agreement”, dated August 8, 2023, which made certain technical amendments to the conversion mechanics therein to comply with Nasdaq’s listing rules relating to stockholder voting rights

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Sports Entertainment Gaming Global Corp filing history →

Source: SEC EDGAR

accession 0001493152-24-007581

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