Summary by Moomoo AI
Lottery.com has entered into a Stock Purchase Agreement with Generating Alpha Ltd. on November 21, 2024, securing potential funding of up to $100 million through the sale of its common stock. Under the agreement, the company can initiate "Put" requests for stock purchases, with Generating Alpha agreeing to buy shares at 90% of the Market Price, defined as the average VWAP over 20 trading days.The agreement includes specific transaction parameters: minimum Put amount of $20,000, maximum amount limited to 100% of Average Daily Trading Volume, and a cap on Investor ownership at 4.99% of Common Stock. As commitment fees, the company will issue common stock equivalent to 1.5% of half the Commitment Amount initially, with an additional 1.5% after drawing down half of the total amount.
