Trident Acquisitions Corp has announced it has filed with the US 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).
Vadim Komissarov, CEO 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.”
Back in February, Lottery.com and Trident entered into a definitive agreement relating to the business combination. Immediately following the business combination and assuming no redemptions by Trident shareholders, Lottery.com expects to have approximately $43m in cash, which will be used to expand its global digital platform and fund working capital to support its growth strategy.
Upon completion of the transaction, the combined company is likely 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.
Lottery.com CEO, Tony DiMatteo, commented: “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 has also completed the previously announced acquisitions of Mexican lottery companies JuegaLotto and Aganar to expand its operations in the country and throughout Latin America.
DiMatteo added: “I’m extremely pleased to welcome Aganar and JuegaLotto to Lottery.com. These acquisitions represent the progress we are making in the execution of 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.”
