18 December 2022
Woodford enters into loan agreement with Nasdaq distress company.
Woodford Finance has entered into a Loan Agreement with Lottery.com, a Nasdaq listed company currently under distress.
Listed on Nasdaq in 2021 , Lottery.com is a technology-based company, committed to transforming how, where and where Lottery is played.
Providing access to over 800 lottery games across 40 different countries, the publicly traded business suffered from misconduct by the company’s main officers that spiralled Lottery to deep distress and required a rescue deal to continue trading.
After agreeing an $2.5 million loan facility, Woodford Finance is now working closely with Lottery.com to turn the tech company around and, importantly, avoid the risk of delisting from Nasdaq and reinstate proper reporting and disclosure functions of the company.
The Loan Agreement also gives Woodford Finance an exclusive option to invest a further $50M into the company, following the completion of the cleanup strategy and in regaining full compliance with Nasdaq.
For more information about Lottery.com, visit: https://lottery.com
Providing access to over 800 lottery games across 40 different countries, the publicly traded business suffered from misconduct by the company’s main officers that spiralled Lottery to deep distress and required a rescue deal to continue trading.
After agreeing an $2.5 million loan facility, Woodford Finance is now working closely with Lottery.com to turn the tech company around and, importantly, avoid the risk of delisting from Nasdaq and reinstate proper reporting and disclosure functions of the company.
The Loan Agreement also gives Woodford Finance an exclusive option to invest a further $50M into the company, following the completion of the cleanup strategy and in regaining full compliance with Nasdaq.
For more information about Lottery.com, visit: https://lottery.com