Summary by Moomoo AI
On February 15, 2024, Lottery.com Inc., a leading online lottery services provider, announced the signing of a Memorandum of Understanding (MOU) with S&MI Ltd., known as SportLocker.com, to acquire the company in a stock-based transaction. The agreement involves Lottery.com paying S&MI Ltd. shareholders a total of $1,000,000 in restricted common stock, valued at $3.00 per share, with payments scheduled between June 15, 2024, and May 16, 2025. The MOU will be incorporated into a definitive agreement by April 15, 2024. Additionally, Lottery.com will support SportLocker.com with cash, media credits, or a combination thereof over the twelve months following the closing date, contingent on raising a minimum of new capital. This acquisition marks the launch of Sports.com, a rebranded platform from SportLocker...Show More