Slam Corp., a SPAC backed by former New York Yankees slugger Alex Rodriguez, priced its IPO of 50 million units at $10 each.
Units begin trading otday on the Nasdaq under SLAMU. Each consists of one Class A ordinary share and one-fourth of one redeemable warrant, with each whole warrant entitling the holder to purchase one Class A ordinary share at $11.50. Once the securities comprising the units begin separate trading, shares and warrants will list under SLAM and SLAMW, respectively. The offering is expected to close Feb. 25.
In SEC filings Slam has said it will target businesses in the sports, media, entertainment, health and wellness and consumer technology sectors, but not professional sports franchises. Read more.
