Lottery.com Inc. Reports Annual Meeting Results While Sun Communities Inc. Announces $5.65 Billion Marina Sale

Lottery.com Inc. disclosed outcomes of its 2024 Annual Meeting of Stockholders held on February 20, 2025, at the Mar‐a‐Lago Club in Palm Beach, Florida. During the meeting, common stockholders—based on a record date of December 31, 2024—voted on several proposals, including the election of a nominee for a Class II director, approval of an amendment authorizing a potential reverse stock split, ratification of the appointment of Boladale Lawal & Co. as the independent public accounting firm for the 2024 fiscal year, and an advisory proposal related to adjourning the meeting if additional proxy votes were required for the reverse split proposal.

Out of the 12,080,919 common shares entitled to vote, 5,864,197 shares (48.54% of the total) were cast. The vote counts for each proposal registered 5,863,929 votes in favor and 268 against, with no abstentions recorded. Notably, following the meeting and after market close on February 20, 2025, Lottery.com’s Board of Directors determined that a reverse stock split was not necessary at this time.

In connection with its routine 8-K filing, the company also included an attached exhibit detailing a significant transaction announced by Sun Communities Inc. In the attached exhibit, Sun Communities stated that it has entered into a definitive agreement to sell 100% of its interests in the Safe Harbor Marinas business to affiliates of Blackstone Infrastructure. The all-cash transaction is valued at $5.65 billion, representing an approximate 21x multiple on the estimated 2024 Funds From Operations for the Safe Harbor business. The sale is expected to generate approximately $5.5 billion of pre-tax proceeds after transaction costs, which will be allocated toward debt reduction, distributions to shareholders, and reinvestment in Sun Communities’ core manufactured housing and recreational vehicle operations.

Sun Communities also highlighted additional strategic benefits from the transaction. The sale will reposition the company as a pure-play owner and operator of manufactured housing and RV communities, enhance financial flexibility by significantly de-leveraging the balance sheet, and reinforce the focus on durable, annual income streams. The closing of the deal is expected to occur in the second quarter of 2025, subject to customary closing conditions and third-party approvals for a portion of the assets.

Both developments reflect key corporate decisions aimed at strengthening financial profiles and streamlining business strategies. Lottery.com’s shareholder voting results underline the support for its current board recommendations, while Sun Communities’ divestiture of its marina business marks a pivotal step in refocusing on its core segments and improving its overall margin and cash flow profile.

No additional commentary or forward-looking statements were provided beyond those detailed in the respective filings.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Trident Acquisitions’s 8K filing here.

Trident Acquisitions Company Profile

Trident Acquisitions Corp. is a blank check company, which engages in the provision of investment services. It involves in entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, and other similar business combination. The company was founded on March 17, 2016 and is headquartered in New York, NY.