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Lottery.com secures additional funding through placement agent agreement

December 20, 2023 World Industry Updates

Lottery.com has recently made major attempts to raise money and acquire new business.

Through a placement agency agreement with Univest Securities, the company was able to raise more capital, leading to a $1 million first investment from new investors.

The money will go toward supporting important initiatives like WinTogether, the LotteryLink affiliate program, and the Nexus Gaming Platform. Convertible promissory notes and purchase warrants for common stock will be the formats in which they are distributed.

The terms of Lottery.com’s acquisition of Nook Holdings Limited, which is expected to finalize in Q1 2024 and rebrand Nook as Sports.com, were also modified.

This action is a component of Sports.com’s strategy to create a sports incubator to support the growth of businesses and individuals operating in the sports, fitness, and wellness sectors.

The appointment of Gregory Potts as COO and Matthew McGahan as CEO, among other recent leadership changes at Lottery.com, shows the company’s dedication to enhancing both its technological infrastructure and customer experience.