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SEGG Media stock rises after regaining full Nasdaq compliance

Published 20/10/2025, 17:32
© Reuters.
SEGG
-2.82%

Investing.com -- SEGG Media Corporation (NASDAQ:SEGG) stock rose 6.7% on Monday after the company announced it has regained full compliance with Nasdaq’s continued listing requirements, marking the first time in over three years the company is fully compliant with the exchange.

The global sports, entertainment, and gaming group, formerly known as Lottery.com, disclosed in an 8-K filing last Friday that it received a formal notice from Nasdaq on October 16 confirming resolution of compliance deficiencies related to shareholder approval under Listing Rule 5635(c). The issue stemmed from equity grants made in 2023 and early 2024, which have now been retroactively aligned under the company’s shareholder-approved 2021 Incentive Plan.

Since current management took over in May 2023, SEGG Media has worked to address multiple legacy issues. The company has rebranded from Lottery.com, executed a multi-vertical acquisition strategy, and secured SEC approval for two Form S-1 Registration Statements that permit the company to raise up to $450 million for growth initiatives.

"We inherited a company with significant legacy issues and have methodically addressed every item — legal, financial, structural and operationally— bringing SEGG Media in full compliance with Nasdaq," said Matthew McGahan, Chairman & CEO of SEGG Media.

The compliance milestone comes as the company focuses on revenue-generating activities across its core brands, which include Sports.com, Concerts.com, and Lottery.com. Gregory Potts, COO of SEGG Media, stated that with compliance issues resolved, the team can now concentrate on "scaling operations and launching programs that maximize value across our brand portfolio."

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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