SLAM - Alex Rodriguez SPAC Slam Corp. to merge with Lynk Global - report

2023-12-17 23:35:38 ET

A SPAC founded by former all-star baseball player Alex Rodriguez is expected to merge with satellite communications provider Lynk Global Inc.

Slam Corp. ( NASDAQ: SLAM ) signed a letter of intent to merge with Lynk and the combined company is expcected to list on the Nasdaq Stock Exchange, accordingt to a Bloomberg report on Sunday, which cited people familiar. The combined company is expected to value at more than $800 million.

Lynk Global is working on satellite-to-mobile service and is competing with firm's such as Elon Musk's SpaceX ( SPACE ), which plans to uses it its Starlink satellites, as well as AST SpaceMobile ( ASTS ).  Lynk Global’s backers include Blazer Ventures, Unshackled Ventures and Global Space Ventures.

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