Slam Corp. (OTC Pink Sheets:SLAMU), a special purpose acquisition company, has amended its business combination agreement with Lynk Global Inc., extending the deadline for their planned merger from August 31, 2024, to December 25, 2024. This development was disclosed in a recent SEC filing, which also noted an increase in the principal amount of a promissory note issued by Slam Corp. to its sponsor, Slam Sponsor, LLC.
The agreement amendment, which was finalized on August 26, 2024, allows for additional time to satisfy closing conditions and complete the merger. The merger, initially announced on February 4, 2024, involves Slam Corp., Lynk Global Inc., and other related entities. The extension indicates a continued commitment by both parties to finalize the merger, which is expected to significantly impact Slam Corp.'s business operations.
In conjunction with the merger extension, Slam Corp. has also amended a promissory note, increasing the total principal amount from $10,447,000 to $10,947,000. As of the filing date, approximately $10,439,000 has been borrowed under the note. The amended note ensures additional funding for Slam Corp. as it progresses toward the merger's completion.
The filing also includes information about the securities involved in the transaction: units consisting of Class A Ordinary Shares and redeemable warrants, Class A Ordinary Shares, and redeemable warrants, all traded on the OTC Pink Sheets under the symbols SLAMU, SLAM, and SLAMW, respectively.
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