other_material
confidence high
sentiment neutral
materiality 0.60
Lottery.com amends $300M stock purchase agreement with Generating Alpha Ltd.
Sports Entertainment Gaming Global Corp
- Commitment Amount remains $300M; Purchase Price set at 94% of Market Price (lowest VWAP in Valuation Period).
- Safety Net Price no less than 80% of closing price on Put Notice date; only one Put Adjustment per Valuation Period.
- On execution, Lottery issued Generating Alpha 682,410 pre-funded common stock warrants as commitment fee.
- If Common Stock bid price < $0.50, Purchase Price becomes 90% of Market Price; Trading Cushion removed.
- In default, Put Adjustment reduces to 33% of original put amount; further 1.5% warrant fee per $50M tranche after $100M drawn.
item 1.01item 9.01