Lottery.com also completes two previously announced acquisitions in Mexico
Trident Acquisitions Corp. (Nasdaq: TDACU, TDAC, TDACW) (“Trident”) announced today that it has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 (the “Registration Statement”) in connection with its proposed business combination with AutoLotto, Inc. (“Lottery.com”), a leading technology company that is transforming how, where and when the lottery is played. A link to the Registration Statement can be found here.
Vadim Komissarov, Chief Executive Officer of Trident stated, “Through the hard work and collaboration of the Lottery.com and Trident teams, we have reached a significant milestone toward completing our business combination. We are committed to completing this business combination as soon as practicable and are excited about the future of Lottery.com.”
Tony DiMatteo, Chief Executive Officer of Lottery.com added, “I would like to thank the Trident team and the many Lottery.com team members whose commitment allowed us to file the Registration Statement today. I would also like to express appreciation to our investors for their support throughout this process. With this filing, we have taken an important step toward completing our business combination, which we now expect to be completed by the end of the third quarter of 2021.”
Lottery.com and Trident entered into a definitive agreement relating to the business combination on February 21, 2021. Immediately following the business combination and assuming no redemptions by Trident shareholders, Lottery.com expects to have approximately $43 million in cash, which will be used to expand Lottery.com’s global digital platform and fund working capital to support the company’s growth strategy.
Upon completion of the transaction, the combined company is expected to be named Lottery.com and its common stock and warrants are expected to remain listed on the Nasdaq Stock Market under the new ticker symbols “LTRY” and “LTRYW”, respectively.
Additionally, Lottery.com has completed the previously announced acquisitions of Medios Electronicos y de Comunicacion, S.A.P.I. de C.V (“Aganar”) and JuegaLotto, S.A. de C.V. (“JuegaLotto”). Aganar has been operating in the Mexican iLottery market since 2007 and is licensed to sell Mexican National Lottery games online and has access to a federally approved online casino and sportsbook gaming license. JuegaLotto is licensed to sell international lottery games in Mexico though a federal gaming portal and to sell other games of chance throughout Latin America.
DiMatteo said, “I’m extremely pleased to welcome Aganar and Juegalotto to Lottery.com. These acquisitions represent the progress we are making in the execution our growth strategy. These two leading companies will allow us to both expand our geographic footprint and broaden our product offerings, which we expect to further accelerate growth.”