Slam Corp., a SPAC led by baseball legend Alex Rodriguez, issued a $150,000 convertible promissory note to its sponsor, according to an 8-K filed today. The SPAC borrowed $120,000 in June and $150,000 two months before that.
The principal balance of the latest note is convertible into warrants at $1.50 each.
Slam was briefly in merger talks last year 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.
Slam raised $500 million in a February 2021 IPO. Read more.
