Lottery.com (NASDAQ: LTRY, LTRYW), a leading technology company that is transforming how, where and when the lottery is played, announced that the business combination between the company and Trident Acquisitions Corp. (NASDAQ: TDAC, TDACU) has been completed; the two companies had announced their intentions to combine earlier this year. Lottery.com stated that the transaction had received approval from Trident stockholders at a special meeting held on Oct. 28, 2021. In addition to approval the move, the stockholders also elected to retain 99.6% of Trident’s outstanding stock, which resulted in the company receiving more than $63 million in gross proceeds. The announcement noted that the combined company will be renamed Lottery.com Inc., with its common stock and warrants commencing to trade on the Nasdaq Stock Market on Monday, Nov. 1, 2021; the ticker symbols will be LTRY and LTRYW, respectively. “Today represents a momentous achievement for Lottery.com,” said Lottery.com CEO Tony DiMatteo in the press release. “I am grateful to all our stockholders for their continued support and the entire Lottery.com team for their dedication. Since we entered our first state, our convenient online platform has resonated with consumers, which has driven our strong growth. As a public company with enhanced access to capital, we plan to continue building on this positive momentum by leveraging our low customer acquisition cost to further expand our customer base, broadening our product offerings, and executing on strategic and synergistic acquisitions. We remain squarely focused on realizing the profitable growth opportunities before us and delivering long-term value to our stockholders.”
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About Lottery.com
Lottery.com is a leading technology company that is transforming how, where and when lottery is played. Its engaging mobile and online platforms enable players and commercial partners located in the around the world to remotely purchase legally sanctioned lottery games. Fans and subscribers look to Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, through WinTogether.org, Lottery.com is fundamentally changing how nonprofit donors are incentivized to action by gamifying charitable giving. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. To learn more about the company, visit www.Lottery.com.
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