RBAC - Ex-Yankees great Alex Rodriguez launches SPAC IPO but won't pursue sports teams

Former New York Yankees great Alex Rodriguez is hoping to hit a home run on Wall Street, unveiling plans to raise as much as $575 million through an initial public offering for a new SPAC called Slam Corp. “We believe the company’s value proposition is uniquely suited to bring to market a best-in-class publicly traded asset,” Rodriguez and other Slam executives wrote in an S-1 filing with the U.S. Securities and Exchange Commission. “Mr. Rodriguez’s storied career as a leader both on the field and as an investor and entrepreneur off the field has enabled him to cultivate a vast, influential network providing remarkable access to potential business opportunities. This will provide valuable insights into identifying potential targets and will help unlock long-term growth potential.” Slam’s IPO will offer 50 million investment units for the special purpose acquisition company at $10 each, plus up to 7.5 million more available to underwriters Goldman Sachs

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Ex-Yankees great Alex Rodriguez launches SPAC IPO, but won’t pursue sports teams