By Dean Seal
Lottery.com will proceed with an acquisition of Nook Holdings after securing additional new funding.
Lottery-technology-company Lottery.com said Monday that it has entered into a placement agent agreement with Univest Securities and gained $1 million in initial investment from new investors in the form of convertible promissory notes and common stock purchase warrants.
The funds will be utilized as working capital and restart Lottery.com’s core operations, and will also enable it to advance its acquisition of Nook on revised terms. Lottery.com expects the Nook deal to be finalized by the end of the first quarter of 2024.
The company first said in October that it planned to acquire Nook for an undisclosed amount.
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