other_material
confidence high
sentiment neutral
materiality 0.70
Lottery.com enters $300M stock purchase agreement with Generating Alpha Ltd at 94% of VWAP
Sports Entertainment Gaming Global Corp
- Generating Alpha Ltd to purchase up to $300M of LTRY common stock via put requests at 94% of 5-day VWAP.
- Minimum put amount $20,000; maximum put equals 100% of average daily trading volume; investor capped at 4.99% ownership.
- Commitment fee of 682,410 shares paid as prefunded stock purchase warrant on execution.
- Additional prefunded warrants for 1.5% of each $50M tranche after $100M drawn, priced at last put clearing VWAP.
- Agreement is an amendment to prior stock purchase arrangement; full terms to be filed later.
item 1.01item 9.01