Lottery.com (NASDAQ: LTRY), a leading technology company revolutionizing the lottery experience, has secured increased funding. The company has amended its placement agent agreement with Univest Securities LLC, resulting in a significant increase in financial commitment from new and existing investors. According to the company, this increase illustrates the confidence investors have in Lottery.com’s vision and operational strategy as it works to create a foundation for growth and expansion. The revised terms of the agreement include an increase in the offering amount from $1 million to $5 million, with each unit in the offering comprised of a convertible promissory note along with a common stock purchase warrant. According to the announcement, the company anticipates using the funds for general working capital along with exploring new acquisition opportunities and investing in operations designed to ensure the normalization of services, which are expected to resume this month.
“We are thrilled with the overwhelming support from our investors, which reflects their confidence in our strategy and our team’s ability to execute it,” said Lottery.com CEO Matthew McGahan in the press release. “This increased funding commitment enables us to accelerate our growth plans, further innovate our platform, and continue to redefine the lottery experience worldwide. Our partnership with Univest and our investors is pivotal as we embark on this exciting phase of expansion and innovation.”
To view the full press release, visit https://ibn.fm/w8fXa
About Lottery.com Inc.
Lottery.com is a leading technology company that is transforming how, where and when lotteries are played. Its engaging mobile and online platforms enable players and commercial partners located throughout the United States and other countries to remotely purchase legally sanctioned lottery games. Fans and subscribers look to Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, through WinTogether.org, Lottery.com is fundamentally changing how nonprofit donors are incentivized to action by gamifying charitable giving. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. To learn more about the company, visit www.Lottery.com.
NOTE TO INVESTORS: The latest news and updates relating to Lottery are available in the company’s newsroom at https://ibn.fm/Lottery
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com
InvestorWire is powered by IBN
