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Lottery.com | 8-K: Current report

SEC announcement · Feb 22 17:33

LTRY +0.56%

Summary by Moomoo AI

On February 16, 2024, Lottery.com Inc. announced an expansion of its existing loan agreement with United Capital Investments London Limited (UCIL). The amendment, known as 'Amendment and Restatement Agreement No. 2', increases the supplemental credit facility, or 'Accordion', from $49 million to $149 million. This follows a previous amendment on August 18, 2023, which adjusted the conversion mechanics to align with Nasdaq's listing rules regarding stockholder voting rights. Concurrently, Prosperity Investment Management began funding an $18 million investment in Lottery.com through the amended loan agreement. This financial activity is detailed in the company's Form 8-K filings with the SEC, with the full text of the amendments incorporated by reference.

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