SEGG Media Regains Full Compliance with Nasdaq
Rhea-AI Summary
SEGG Media (NASDAQ: SEGG) announced it has regained full compliance with Nasdaq's continued listing requirements, with Nasdaq confirming the case closed in a notice dated October 16, 2025. The compliance deficiency related to shareholder approval under Listing Rule 5635(c) and equity grants made in 2023–early 2024, which were retroactively aligned under the company’s 2021 Incentive Plan and disclosed to the SEC.
Since new management arrived in May 2023, the company says it rebranded to SEGG Media, executed a multi-vertical acquisition strategy, and had two Form S-1 registration statements declared effective, permitting the company to raise up to $450 million to support global growth across Sports.com, Concerts.com and Lottery.com.
Positive
- Nasdaq compliance restored; case closed Oct 16, 2025
- Form S-1 filings declared effective enabling up to $450 million raise
Negative
- Company was on Nasdaq non-compliant list for over 3 years
- Compliance deficiency related to equity grants in 2023–early 2024
News Market Reaction
On the day this news was published, SEGG gained 7.82%, reflecting a notable positive market reaction. Argus tracked a peak move of +15.9% during that session. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $1M to the company's valuation, bringing the market cap to $20M at that time.
Data tracked by StockTitan Argus on the day of publication.
FORT WORTH, Texas, Oct. 20, 2025 (GLOBE NEWSWIRE) -- SEGG Media Corporation (NASDAQ: SEGG, LTRYW)(the “Company” or “SEGG Media”), the global sports, entertainment, and gaming group is pleased to announce that it has regained full compliance with Nasdaq's continued listing requirements. The Company formally disclosed the compliance notice it received from Nasdaq on on a its Form 8-K filing last Friday. The news marks the first time the Company is fully compliant with Nasdaq since evolving from Lottery.com to SEGG Media with its ticker symbol change to SEGG and launching a new era of growth and revenue generation focused on capitalizing on the Company's strong domains and brands, namely Sports.com, Concerts.com and Lottery.com. The Company will no longer appear on Nasdaq's Non-Compliant list for the first time in over 3 years.
In a formal notice letter received by the Company from Nasdaq on October 16, 2025, the exchange confirmed that the compliance deficiency related to shareholder approval under Listing Rule 5635(c) has been fully resolved and the case is now closed. The issue related equity grants made in 2023 and early 2024, which were later retroactively aligned under the Company’s shareholder approved 2021 Incentive Plan, with proper disclosures filed with the SEC.
“We inherited a company with significant legacy issues and have methodically addressed every item — legal, financial, structural and operationally— bringing SEGG Media in full compliance with Nasdaq,” said Matthew McGahan, Chairman & CEO of SEGG Media. “We’re now in a position of strength and stability that allows us to focus even more on creating shareholder value by pursuing growth, strategic acquisitions, and scale innovation.”
Since the arrival of the current management team in May 2023, SEGG Media has:
- Worked with SEC to cause two Form S-1 Registration Statements to be declared effective, which permits the Company to raise
$450 million to grow its global operations and revenue - Rebranded from Lottery.com to SEGG Media Corporation
- Executed a multi-vertical acquisition strategy across sports, entertainment, esports, and live events
- Regained full compliance with Nasdaq's Continued Listing rules
This compliance confirmation arrives at a time when SEGG Media is ramping up investor communications and focusing on revenue generating activities across its core brands including Sports.com and Concerts.com.
“We set out in 2023 to turn around a troubled public company. We did that and now with the compliance deficiencies cured, our team can focus even more on scaling operations and launching programs that maximize value across our brand portfolio and generate revenue for the Company. What comes next is revenue growth,” added Gregory Potts, COO of SEGG Media.
About SEGG Media Corporation
SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com and Lottery.com. Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
This press release was published by a CLEAR® Verified individual.
For additional information, visit www.seggmediacorp.com or contact media relations at media@seggmediacorp.com
FAQ
What did SEGG announce about Nasdaq compliance on October 20, 2025?
How does the Nasdaq notice affect SEGG shareholders (NASDAQ: SEGG)?
What capital-raising ability did SEGG secure with its Form S-1 filings?
What was the compliance deficiency cited for SEGG under Listing Rule 5635(c)?
When did SEGG's current management take over and what changes followed?
