Trident Acquisitions Announces Filing of Proxy Supplement in Connection With Its Stockholder Proposal to Extend Period to Con...
May 21 2021 - 6:00AM
Trident Acquisitions Corp. (NASDAQ: TDACU, TDAC, TDACW) (“Trident”)
or the “Company”), a special purpose acquisition company, announced
that it has filed today with the Securities and Exchange Commission
(the “SEC”) a supplement to its proxy statement seeking approval of
its stockholders to extend the time to complete its business
combination for an additional three months to September 1, 2021,
subject to an additional three month extension to December 1, 2021
upon approval of the Company’s board of directors (the
“Extension”).
The proxy supplement reflects that pursuant to an amendment to
the Company’s Trust Agreement, the Company changed the vote
required to amend the Trust Agreement for purposes of extending the
date by which the Company has to consummate a business combination
from a majority of the outstanding shares of common stock sold in
the Company’s IPO to a majority of the outstanding shares of common
stock. In addition, for each month of the extension, if the daily
volume weighted average price of the Company’s common stock for any
10 consecutive trading days in the prior month is below $11.40 per
share, as determined two (2) trading days prior to the last day of
such month, the Company must deposit, or cause to be deposited by
its insiders, $0.05 for each public share of common stock that was
not redeemed in connection with the special meeting into the
Company’s trust account.
The purpose of the Extension is to permit sufficient time for
Trident to consummate its previously announced proposed business
combination with Lottery.com, including filing a registration
statement on Form S-4 that will include a proxy statement. For a
summary of the material terms of the proposed transaction, please
see Trident’s Current Report on Form 8-K filed on February 23, 2021
with the SEC in connection with the announcement of the proposed
business combination.
About Trident Acquisitions Corp.
Trident is a blank check company formed for the purpose of
entering into a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar
business combination with one or more businesses or entities.
Trident's securities are quoted on the NASDAQ stock exchange under
the ticker symbols TDACU, TDAC and TDACW. For more information,
visit tridentacquisitions.com.
About Lottery.com
Lottery.com is an Austin, TX-based company enabling
consumers to play state-sanctioned lottery games from their home or
on the go in the US, and select lottery products internationally.
The company works closely with state regulators to advance the
lottery industry, providing official lottery games and enhanced
regulatory capabilities, while capturing untapped market share,
including millennial players. Lottery.com is also gamifying
charitable giving to fundamentally change how nonprofits engage
with their donors and raise funds. Through their WinTogether.org
platform, they offer charitable donation sweepstakes to incentivize
donors to take action by offering once in a lifetime experiences
and large cash prizes.
Important Notice Regarding Forward-Looking
Statements
This press release contains statements that constitute
"forward-looking statements”. Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of Trident, including those set forth in the Risk Factors
section of Trident's annual report on Form 10-K for the year ended
December 31, 2020, filed with the SEC. Copies are available on the
SEC's website, www.sec.gov. Trident undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Important Information and Where to Find it
In connection with the proposed business combination, Trident
will file with the SEC a registration statement on Form S-4 (the
“Registration Statement”) that will include a preliminary proxy
statement (the “Proxy Statement”) for the solicitation of proxies
from Trident’s stockholders. Additionally, Trident will file other
relevant materials with the SEC in connection with the proposed
business combination. Copies may be obtained free of charge at the
SEC’s web site at www.sec.gov. A definitive proxy statement will be
mailed to Trident stockholders as of a record date to be
established for voting on the proposed business combination.
Investors and security holders of Trident are urged to read the
Registration Statement and Proxy Statement and the other relevant
materials when they become available before making any voting
decision with respect to the proposed business combination because
they will contain important information about the business
combination and the parties to the business combination. The
information contained on, or that may be accessed through, the
websites referenced in this press release is not incorporated by
reference into, and is not a part of, this press release.
Participants in the Solicitation
Trident and its directors and officers may be deemed
participants in the solicitation of proxies of Trident’s
stockholders in connection with the proposed business combination.
Lottery.com and its officers and directors may also be deemed
participants in such solicitation. Security holders may obtain more
detailed information regarding the names, affiliations and
interests of certain of Trident’s executive officers and directors
in the solicitation by reading Trident’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2020, and the Registration
Statement and other relevant materials filed with the SEC in
connection with the business combination when they become
available. Information concerning the interests of Trident’s
participants in the solicitation, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the proxy statement relating to the business combination
when it becomes available.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act.
Investor Relations Contact:Gateway Investor
RelationsCody Slach(949) 574-3860TDAC@gatewayir.com
Trident Contact:Vadim
KomissarovCEO(646)
229-7549vkomissarov@tridentacquisitions.com
Lottery.com Contact:Cody
Billingsley(520) 250-3369cody@lottery.com
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