Slam Corp., a SPAC led by baseball legend Alex Rodriguez, filed a proxy seeking a deadline extension in monthly increments up to December 2024. If the measure is approved by shareholderrs, the SPAC’s sponsor would be obligated to deposit $80,000 per month into trust.
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.
