SEGG Media Corporation (NASDAQ: SEGG, LTRYW), dba Lottery.com Inc., announced today that it has completed a registered direct offering of 2,449,857 shares of its common stock, generating gross proceeds of approximately $1.7 million. The offering price was based on the average closing price for the five trading days prior to January 16, 2026, and the transaction closed on January 20, 2026. Dawson James Securities Inc. acted as the sole placement agent.
The company stated that the net proceeds will be used primarily for general working capital, advancing previously announced acquisitions of revenue-generating, profitable, cash-flow positive businesses, and other corporate purposes. This capital infusion provides SEGG Media with additional financial flexibility to pursue its growth strategy.
In conjunction with the offering, SEGG Media also announced it has withdrawn from two previously disclosed financing arrangements. The company has agreed in principle to terminate its December 2025 note and securities purchase agreement with Evergreen Capital Markets LLC, under which it had received $500,000 and will not draw the remaining $2.0 million. Additionally, SEGG Media has terminated its $150 million loan agreement with United Capital Investments London Limited. The company noted that the termination of these agreements is not expected to result in significant equity issuances or dilution.
These moves signal a strategic shift by SEGG Media to streamline its capital structure and reduce potential dilution for existing shareholders. By replacing prior financing arrangements with a smaller, more manageable registered direct offering, the company appears to be focusing on near-term operational needs and acquisition targets.
SEGG Media is a global sports, entertainment, and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com, and Lottery.com. The company focuses on immersive fan engagement, ethical gaming, and AI-driven live experiences. For more information, visit the company's newsroom at http://ibn.fm/SEGG.
The full press release detailing the offering and termination of financings is available at https://ibn.fm/pnk72.
