Lottery.com Inc. Amends Agreement with Nook Holdings

Lottery.com Inc. (NASDAQ:LTRY), a software services company with a market capitalization of $36.34 million, announced today an amendment to its stock purchase agreement with Nook Holdings Limited, a company based in the United Arab Emirates. The amendment, effective as of today, adjusts the terms under which Lottery.com will acquire a 90% stake in Nook, which specializes in supporting professionals in the sports, fitness, and wellness industry.

The revised terms set the total purchase price for the acquisition at $2,459,016, with $271,858 already paid and a remaining balance of $2,187,158. The acquisition is expected to be finalized by June 30, 2025. According to InvestingPro data, the company currently faces liquidity challenges with a current ratio of 0.52, indicating its short-term obligations exceed liquid assets. Post-acquisition, Lottery.com reserves the right to assign any part of the agreement to affiliated entities or third parties.

This strategic move is designed to enhance Lottery.com’s portfolio and market presence in the Middle East. Nook’s existing operations in Dubai, coupled with its exclusive partnership with Dubai’s DMCC Free Zone, offer a range of services including business setup support, insurance, VAT registration, and networking opportunities. The expansion comes as the company faces significant revenue challenges, with InvestingPro reporting an 84.52% decline in revenue over the last twelve months.

The announcement also includes forward-looking statements regarding the company’s strategy, operations, and future events. These statements are subject to various risks and uncertainties, including the company’s ongoing review of internal accounting controls and its ability to regain compliance with Nasdaq Listing Rules and SEC reporting requirements. Investors should note that InvestingPro’s analysis indicates a weak overall financial health score of 1.51, though the stock has shown strong momentum with a 337.71% return over the past six months.

Lottery.com emphasizes that these forward-looking statements are based on current expectations and assumptions, which may change over time. As such, actual results and plans could differ materially from those expressed in any forward-looking statements due to numerous factors beyond the company’s control.

The full details of the amended stock purchase agreement will be filed by Lottery.com at a later date. The information in this article is based on a press release statement.

In other recent news, Lottery.com Inc. has announced the acquisition of a majority stake in DotCom Ventures Inc., owners of Concerts.com and TicketStub.com, for $10 million. This strategic move is aimed at expanding Lottery.com’s presence in the online ticketing market and integrating these platforms with its Sports.com live streaming service. Additionally, the company is focusing on brand promotion through various sponsorships, including the recent Indianapolis 500 and Soccerex Europe 2025. In another development, Lottery.com has initiated an investigation into potential illegal short selling of its stock, hiring Paul Hastings LLP to lead the inquiry. The company remains vigilant in protecting shareholder interests and ensuring market transparency.

Furthermore, a lawsuit against Lottery.com was voluntarily dismissed by the plaintiff, marking a positive step for the company as it seeks to rebuild investor confidence. In the realm of sports, drivers sponsored by Lottery.com showcased their skills during recent motorsport events in Detroit, with notable performances despite setbacks. Lastly, Marc Bircham has been appointed to the Board of Directors as an Executive Director, bringing his extensive experience in sports management to the company’s expanding operations. These developments reflect Lottery.com’s ongoing efforts to enhance its business operations and strengthen its market position.

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