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FAQ: SEGG Media Corporation's $1.7M Registered Direct Offering and Financing Updates
TL;DR
SEGG Media's $1.7 million offering provides capital to acquire profitable businesses, potentially strengthening its competitive position in sports and gaming markets.
SEGG Media completed a registered direct offering of 2,449,857 shares at a price based on the five-day average closing price prior to January 16, 2026.
This funding supports SEGG Media's mission to create ethical gaming and immersive fan experiences, enhancing how global audiences engage with entertainment.
SEGG Media withdrew from two major financing deals while securing new capital, showcasing strategic financial maneuvering in the digital entertainment sector.
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SEGG Media Corporation (NASDAQ: SEGG, LTRYW), doing business as Lottery.com Inc., has completed a registered direct offering raising approximately $1.7 million and has terminated two previously disclosed financing arrangements.
The company raised gross proceeds of approximately $1.7 million through the sale of 2,449,857 shares of common stock, before deducting placement agent fees and offering expenses.
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.
The offering closed on January 20, 2026, with the offering price based on the average closing price for the five trading days prior to January 16, 2026.
Dawson James Securities Inc. acted as the sole placement agent for the registered direct offering.
The company terminated two arrangements: (1) a December 2025 note and securities purchase agreement with Evergreen Capital Markets LLC, and (2) a $150 million loan agreement with United Capital Investments London Limited.
Under the agreement, SEGG Media had received $500,000 and will not draw the remaining $2.0 million, and the company has agreed in principle to terminate this arrangement.
According to the company, terminating this loan agreement is not expected to result in significant equity issuances or dilution.
SEGG Media is a global sports, entertainment and gaming group operating digital assets including Sports.com, Concerts.com and Lottery.com, focused on immersive fan engagement, ethical gaming and AI-driven live experiences.
The latest news and updates relating to SEGG are available in the company's newsroom at http://ibn.fm/SEGG, and the full press release can be viewed at https://ibn.fm/pnk72.
Curated from InvestorBrandNetwork (IBN)
