Lynk Global, a satellite-direct-to-standard-phone (“sat2phone”) telecoms provider, and Slam Corp. (NASDAQ: SLAM) today announced that they have signed a non-binding letter of intent for a potential merger.
If a definitive agreement is ultimately reached and approved, Lynk stock and warrants would list on the Nasdaq under the ticker symbols LYNK and LYNKW.
Slam Corp. is a SPAC founded by major leage baseball legend Alex Rodriguez.
Slam raised $575 million in a February 2021 IPO, initially to target businesses in the sports, media, entertainment, health and wellness and consumer technology sectors, but not professional sports franchises. Redemptions since the IPO have claimed nearly 56% of the trust.
“Lynk has built a truly global platform that is set to revolutionize the satellite-direct-to-phone sector,” Rodriguez said in a statement. “Since Slam’s listing, we have sought to partner with a company beyond providing capital, through operational support, commercial network expansion, and brand amplification. Lynk is a perfect fit for our investment criteria.”
Jones Trading is serving as financial advisor and BTIG is capital markets advisor to Lynk. Goodwin Procter is legal counsel to Lynk. Kirkland & Ellis is serving as legal counsel to Slam Corp. Read more.
