Slam Corp., a blank check company formed by former pro baseball player Alex Rodriguez and Antara Capital, raised $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.
The company is led by CEO and Director Alex Rodriguez, a former professional baseball player for the New York Yankees and 14x MLB All-Star who now serves as founder, Chairman and CEO 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. plans to list on the Nasdaq under the symbol SLAMU. Goldman Sachs and BTIG acted as lead managers on the deal.
