Lottery.com has announced that its registration statement S-4 form concerning its combination with Trident Acquisitions has been approved by the Securities and Exchange Commission.
The two parties voiced their intention to combine in February and by July, had filed a Form S-4.
However, the SEC required more information on the details of the combination before approval, leading to an amended submission last month.
Following the approval, 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.
Tony DiMatteo, CEO of Lottery.com, commented: “We are extremely pleased to have reached another critical milestone and make additional progress toward becoming a public company.
“Through our strong brand and easy-to-use online gaming platform, we have been able to achieve excellent growth, and we believe the completion of our business combination will allow us to accelerate the execution of our growth strategy.”
Trident intends to hold a meeting with its shareholders to conduct a vote on the proposed business combination plan amongst other proposals.
Following the meeting, the business combination is set to be finalised, subject to stockholder approvals and satisfaction of other customary closing conditions.
Vadim Komissarov, CEO of Trident added: “Lottery.com has demonstrated its ability to capitalize on the transition to online gaming and we believe it has tremendous growth potential as this trend continues. We encourage our fellow Trident shareholders to support this business combination that is expected to help Lottery.com realize this potential.”