Slam Corp., a blank check company led by former professional baseball player Alex Rodriguez, filed on Thursday with the SEC to raise up to $500 million in an initial public offering.
The New York, NY-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Slam Corp. would command a market value of $625 million.
The company is led by CEO and Director Alex Rodriguez, former professional baseball player who most recently played for the New York Yankees and founder of investment firm A-Rod Corp, and Chairman Himanshu Gulati, the founder, Managing Partner, and CIO of Antara Capital. The company plans to target the sports, media, entertainment, health and wellness, and consumer technology sectors. It does not intend to target professional sports franchises.
Slam Corp. was founded in 2020 and plans to list on the Nasdaq under the symbol SLAMU. The company filed confidentially on January 11, 2021. Goldman Sachs and BTIG are the joint bookrunners on the deal.
The article Slam Corp., a SPAC led by former MLB player Alex Rodriguez, files for a $500 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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