Blank-check firm Slam Corp., backed by baseball legend Alex Rodriguez, issued a promissory note to its sponsor for $150,000, according to a regulatory filing.
Upon the completion of a merger, the sponsor has the option to convert the principal balance of the note into private placement warrants at $1.50 each.
Slam was briefly in merger talks last summer with Italy-based Panini SpA, which makes sports stickers, cards and other collectibles, but nothing came of it after Panini failed to renew two licensing deals with the National Basketball Association and National Football League. Read more.
