* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

    Canes owner Tom Dundon’s real estate firm eyes entertainment complex near RDU – The Business Journals

    Canes Owner Tom Dundon’s Real Estate Firm Unveils Plans for Thrilling New Entertainment Complex Near RDU

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Morgan Adamski Joins PwC in Newly Created Cyber, Data & Technology Risk Division – HSToday

    Morgan Adamski Leads the Charge in PwC’s Cutting-Edge Cyber, Data & Technology Risk Division

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

    Canes owner Tom Dundon’s real estate firm eyes entertainment complex near RDU – The Business Journals

    Canes Owner Tom Dundon’s Real Estate Firm Unveils Plans for Thrilling New Entertainment Complex Near RDU

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Morgan Adamski Joins PwC in Newly Created Cyber, Data & Technology Risk Division – HSToday

    Morgan Adamski Leads the Charge in PwC’s Cutting-Edge Cyber, Data & Technology Risk Division

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Science

Slam Corp returns $176 million ahead of proposed Lynk Global merger

December 29, 2023
in Science
Slam Corp returns $176 million ahead of proposed Lynk Global merger
Share on FacebookShare on Twitter

TAMPA, Fla. — Former professional baseball player Alex Rodriguez’s shell company got more time from investors to merge with Lynk Global, but has to give $176 million back to those opting to redeem shares rather than a potential stake in the direct-to-smartphone satellite operator.

Slam Corp, a special purpose acquisition company (SPAC) that raised $575 million by listing shares on Nasdaq in February 2021 to search for an investment opportunity, now has less than $99 million in its trust account following a separate batch of shareholder redemptions earlier this year.

The high redemption rate is a blow for Lynk’s hopes to use the funds to grow its constellation — currently enabling intermittent texting and other low-bandwidth services to unmodified phones outside cellular networks in three countries — although extra financing could come from other sources as merger talks continue. 

Lynk declined to comment.

Slam originally had until February 2023 to merge with another company and faced its first wave of redemptions when it extended this deadline to February 2024. 

Announcing a non-binding letter of intent Dec. 18 to merge with Lynk, Slam said it needed permission to extend the deadline up to Dec. 25, 2024, because any deal with the Falls Church, Virginia-based venture would likely close in the second half of that year.

Investors representing around 87% of the voting power of Slam’s ordinary shares that took part in a meeting for its latest deadline extension supported the move, the SPAC said in a Dec. 27 regulatory filing. 

Those who have not redeemed their shares will get another chance to do so once Slam and Lynk finalize their merger and seek shareholder approval for it.

SPAC redemption rates have been high across space and other industries as shareholders jump on the chance to recoup their investment amid broad stock market declines in recent years.

According to Skadden, Arps, Slate, Meagher & Flom, a law firm offering advisory work on these mergers, the redemption rate for SPAC deals closed in 2022 exceeded 80% on average, double the rate for 2021.

The average SPAC trust was over $320 million in 2021 but fell to just $248 million in 2022, the law firm added. Declines continued in the first half of 2023, with investors on average opting to redeem 95% of the capital in a SPAC trust in March.

Lynk has not disclosed how much funding it hopes to raise from merging with Slam, although the companies have said they are working on a deal that would value the combined group at $800 million.

The operator currently has three one-meter-squared satellites in low Earth orbit, and plans to deploy two more early next year via SpaceX’s next Falcon 9 rideshare mission.

Ultimately, Lynk envisages a constellation of 5,000 satellites to provide continuous connectivity services worldwide through partnerships with terrestrial cellular operators.

Competitors include SpaceX, which plans to launch its first batch of satellites with an experimental direct-to-smartphone payload Dec. 30, and Texas-based venture AST SpaceMobile, which is seeking more funds after raising $417 million by merging with a SPAC in 2021.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : SpaceNews – https://spacenews.com/slam-corp-loses-176-million-ahead-of-proposed-lynk-global-merger/

Tags: Millionreturnsscience
Previous Post

NorthStar Earth & Space: First-in-Class with Commercial Space Based SSA

Next Post

SpaceX launches U.S. military spaceplane on Falcon Heavy rocket

Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

July 25, 2025
From sports day to shelter: Thai family flees shelling from Cambodia – Reuters

From sports day to shelter: Thai family flees shelling from Cambodia – Reuters

July 25, 2025
When can we detect lianas from space? Toward a mechanistic understanding of liana-infested forest optics – ESA Journals

Unveiling Forest Canopies: How Satellite Technology Detects Lianas from Space

July 25, 2025
China launches world’s first robot that can run by itself 24/7 — watch it change its own batteries in unsettling new footage – Live Science

China launches world’s first robot that can run by itself 24/7 — watch it change its own batteries in unsettling new footage – Live Science

July 25, 2025
Enjoy Indoor Summer Fun at This Science Center in Rye, New Hampshire – Only In Your State

Discover Exciting Indoor Summer Adventures at This Science Center in Rye, New Hampshire

July 25, 2025
Superhero Lifestyle Collections – Trend Hunter

Discover the Ultimate Superhero Lifestyle Collections Transforming Everyday Living

July 25, 2025
How to watch Katie Ledecky at the 2025 World Swimming Championships – NBC Sports

Don’t Miss a Second: How to Watch Katie Ledecky Shine at the 2025 World Swimming Championships

July 25, 2025
Space Foundation Study: Space economy worth $600bn+ – news.satnews.com

Space Foundation Study: Space economy worth $600bn+ – news.satnews.com

July 25, 2025
City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

July 25, 2025
Advocates talk benefits of single-payer health care in Greenfield forum – Athol Daily News

Advocates Highlight the Benefits of Single-Payer Health Care at Greenfield Forum

July 25, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (738)
  • Economy (762)
  • Entertainment (21,643)
  • General (16,102)
  • Health (9,800)
  • Lifestyle (770)
  • News (22,149)
  • People (764)
  • Politics (771)
  • Science (15,977)
  • Sports (21,260)
  • Technology (15,745)
  • World (745)

Recent News

Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

July 25, 2025
From sports day to shelter: Thai family flees shelling from Cambodia – Reuters

From sports day to shelter: Thai family flees shelling from Cambodia – Reuters

July 25, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version