Slam Corp., a SPAC led by baseball legend Alex Rodriguez, borrowed $120,000 from its sponsor, according to a regulatory filing. This follows a $150,000 loan the sponsor issued to the SPAC in April.
If Slam completes a deal, the sponsor may opt to convert any portion of the 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.
Slam raised $500 million in a February 2021 IPO. Read more.
