Slam Corp., a SPAC led by former New York Yankee Alex Rodriguez, in an 8-K said it borrowed $800,000 from its sponsor, marking the fourth loan that SPAC has received in the last 16 months.
Slam lost 61% of its trust on redemptions in February ahead of an extension vote.
The SPAC raised $500 million in a February 2021 IPO.
Slam in 2021 was briefly in merger talks 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.
