Lottery.com has finalized an agreement to acquire S&MI Ltd. (dba SportLocker.com) for $1 million, to be paid entirely in restricted stock units at a fixed price of $3.00 per share. The acquisition is scheduled to close by September 1, 2024.The purchase price will be distributed across five payments, starting with an initial $150,000, followed by four equal installments of $212,500 each. These subsequent payments will be made in restricted stock units (70,833 shares each) with varying vesting schedules and restriction periods ranging from 12 to 30 months following the completion date.The agreement includes a price protection mechanism where if the stock price falls below the $3.00 fixed price on the six-month anniversary of any issuance date, the price will be adjusted downward to the 5-day VWAP, with additional shares issued to compensate for the difference.

Lottery.com has finalized an agreement to acquire S&MI Ltd. (dba SportLocker.com) for $1 million, to be paid entirely in restricted stock units at a fixed price of $3.00 per share. The acquisition is scheduled to close by September 1, 2024.The purchase price will be distributed across five payments, starting with an initial $150,000, followed by four equal installments of $212,500 each. These subsequent payments will be made in restricted stock units (70,833 shares each) with varying vesting schedules and restriction periods ranging from 12 to 30 months following the completion date.The agreement includes a price protection mechanism where if the stock price falls below the $3.00 fixed price on the six-month anniversary of any issuance date, the price will be adjusted downward to the 5-day VWAP, with additional shares issued to compensate for the difference.