EU and US could reach trade deal this weekend - Reuters
Lottery.com Inc. (NASDAQ:SEGG), operating as SEGG Media Corporation, currently trading at $1.20 per share with a market capitalization of $32 million, announced Tuesday it has entered into a Share Purchase and Sale Agreement with DotCom Ventures Inc. According to InvestingPro data, the stock has shown remarkable momentum with a 269% gain over the past six months, though analysts note its overall financial health score remains weak. The agreement outlines SEGG Media’s plan to acquire a 51% controlling interest in DotCom Ventures for $5 million, payable in cash, restricted stock units, or a combination of both at SEGG Media’s discretion.
The transaction includes the purchase of all issued share capital and assets of DotCom Ventures, notably the domain names concerts.com and ticketstub.com. Closing of the initial controlling interest is expected on or before Friday.
If SEGG Media elects to use restricted stock units as part of the payment, the shares will be issued at a fixed price of $3.00 per share, regardless of SEGG Media’s market price at the time of closing. The agreement provides that if the closing price of these shares is below $3.00 on April 30, 2026, the price will be adjusted downward to the volume-weighted average price (VWAP) for the five trading days prior to that date. SEGG Media would then issue additional shares to DotCom Ventures to account for the difference.
The agreement also grants SEGG Media the right to purchase the remaining outstanding shares of DotCom Ventures in several tranches for additional cash or stock payments. These options include the right to purchase 10,000 shares for $1 million by December 31, 2025; 15,000 shares for $1.5 million by May 31, 2026; 5,000 shares for $500,000 by December 31, 2025; and 19,000 shares for $2 million in cash or stock by December 31, 2025. For any stock payments in these tranches, the share price will be set at the VWAP for the five trading days before the exercise date.
According to a press release statement, the full terms of the agreement will be included in SEGG Media’s upcoming 10-Q filing.
In other recent news, Lottery.com Inc., operating as SEGG Media Corporation, has entered into agreements to acquire a significant equity stake in Veloce Media Group. The agreements outline SEGG Media’s plan to purchase between 12.4% and 51% of Veloce’s share capital. Additionally, SEGG Media announced a CUSIP number change to address concerns about alleged illicit trading activity, following its recent rebranding efforts. The company has also clarified that references to a "2023 Incentive Award Plan" in its SEC filings were incorrect and should refer to the "2021 Incentive Award Plan" instead. Furthermore, SEGG Media plans to launch a Sports.com Super App in the third quarter of 2025, focusing on soccer and motorsport content. This development is part of a strategic effort, including a Letter of Intent to acquire a controlling interest in sports and technology assets from Galaxy Racer Holdings Limited. These initiatives reflect SEGG Media’s broader efforts to modernize its market identity and expand its digital platform offerings.
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