A-Rod's SPAC Slam to Merge with Lynk Global in $800M Satellite Comms Deal
Alex Rodriguez's special purpose acquisition company (SPAC), Slam Corp., plans to merge with satellite communications provider Lynk Global in a deal worth at least $800 million. The merger is expected to take place in the back half of 2024, with the combined company being listed on the Nasdaq stock index. Lynk Global aims to provide direct-to-standard phone connectivity worldwide through its satellite constellation. The deal aligns with Slam Corp.'s investment criteria and has the potential to provide broadband access to underserved populations. The competition includes Elon Musk's Starlink, which recently faced a setback in funding from the Federal Communications Commission. Slam Corp. seeks targets in the media, entertainment, health and wellness, and consumer technology sectors.