SLAM Corp. Transitioning from Nasdaq to OTC Markets
SLAM Corp. (NASDAQ: SLAM) announced its transition from Nasdaq to OTC Markets, with trading expected to begin on August 27, 2024, under the same SLAM and SLAMW ticker symbols. This move is a procedural measure due to timing requirements and does not affect the ongoing business combination with Lynk Global, a leading satellite-direct-to-standard-phone provider. The combined company anticipates listing on Nasdaq under the symbol LYNK upon closing the transaction, which has an extended termination date of December 25, 2024.
Lynk Global has recently secured commercial contracts with global mobile network operators and the U.S. government, positioning itself in the growing sat2phone market, estimated to be a significant opportunity in the satellite communications industry.
SLAM Corp. (NASDAQ: SLAM) ha annunciato il suo passaggio da Nasdaq a OTC Markets, con l'inizio delle contrattazioni previsto per il 27 agosto 2024, mantenendo gli stessi simboli ticker SLAM e SLAMW. Questa mossa è una misura procedurale dovuta a requisiti temporali e non influisce sulla combinazione aziendale in corso con Lynk Global, un fornitore leader di servizi satellite-diretti-a-telefono standard. La società combinata prevede di quotarsi su Nasdaq con il simbolo LYNK al termine della transazione, che ha una data di scadenza prorogata al 25 dicembre 2024.
Lynk Global ha recentemente ottenuto contratti commerciali con operatori di rete mobile globali e il governo degli Stati Uniti, posizionandosi nel crescente mercato sat2phone, che si stima rappresenti un'opportunità significativa nell'industria delle comunicazioni satellitari.
SLAM Corp. (NASDAQ: SLAM) anunció su transición de Nasdaq a OTC Markets, con la negociación prevista para comenzar el 27 de agosto de 2024, bajo los mismos símbolos de cotización SLAM y SLAMW. Este movimiento es una medida procedural debido a requisitos de tiempo y no afecta la combinación de negocios en curso con Lynk Global, un proveedor líder de servicios de satélite a teléfono estándar. La empresa combinada anticipa su cotización en Nasdaq bajo el símbolo LYNK una vez cerrada la transacción, que tiene una fecha de terminación extendida al 25 de diciembre de 2024.
Lynk Global ha asegurado recientemente contratos comerciales con operadores de red móvil globales y el gobierno de EE. UU., posicionándose en el creciente mercado sat2phone, que se estima como una oportunidad significativa en la industria de las comunicaciones por satélite.
SLAM Corp. (NASDAQ: SLAM)은 나스닥에서 OTC 마켓으로의 전환을 발표하였으며, 거래는 2024년 8월 27일부터 동일한 SLAM 및 SLAMW 티커 기호 아래 시작될 것으로 기대됩니다. 이 이동은 시간 요구 사항으로 인한 절차적 조치이며, Lynk Global와의 진행 중인 사업 결합에 영향을 미치지 않습니다. 결합된 회사는 거래가 종료될 때 LYNK 기호 아래 나스닥에 상장될 것으로 예상하고 있으며, 계약 종료 날짜는 2024년 12월 25일로 연장되었습니다.
Lynk Global은 최근 전 세계 모바일 네트워크 운영자 및 미국 정부와 상업 계약을 체결하여 성장중인 sat2phone 시장에 자리 잡았습니다. 이 시장은 위성 통신 산업에서 중요한 기회로 평가되고 있습니다.
SLAM Corp. (NASDAQ: SLAM) a annoncé sa transition de Nasdaq à OTC Markets, le début des échanges étant prévu pour le 27 août 2024, sous les mêmes symboles de ticker SLAM et SLAMW. Ce mouvement est une mesure procédurale en raison de contraintes temporelles et n'affecte pas la combinaison d'entreprise en cours avec Lynk Global, un fournisseur de services satellite-vers-Standard-Téléphone leader sur le marché. La société combinée prévoit de se lister sur Nasdaq sous le symbole LYNK à la clôture de la transaction, qui a une date de résiliation prolongée au 25 décembre 2024.
Lynk Global a récemment sécurisé des contrats commerciaux avec des opérateurs de réseaux mobiles mondiaux et le gouvernement américain, se positionnant sur le marché en croissance du sat2phone, qui représente une opportunité significative dans l'industrie des communications par satellite.
SLAM Corp. (NASDAQ: SLAM) hat seinen Übergang von Nasdaq zu OTC Markets angekündigt, wobei der Handel voraussichtlich am 27. August 2024 unter den gleichen SLAM und SLAMW Börsensymbolen beginnen wird. Dieser Schritt ist eine verfahrenstechnische Maßnahme aufgrund von Zeitanforderungen und hat keine Auswirkungen auf die laufende Unternehmenszusammenführung mit Lynk Global, einem führenden Anbieter für Satelliten-zu-Standardtelefon-Dienste. Das kombinierte Unternehmen plant, nach Abschluss der Transaktion unter dem Symbol LYNK an der Nasdaq gelistet zu werden, die eine verlängerte Kündigungsfrist bis zum 25. Dezember 2024 hat.
Lynk Global hat kürzlich kommerzielle Verträge mit globalen Mobilfunknetzbetreibern und der US-Regierung gesichert und sich im wachsenden sat2phone Markt positioniert, der als bedeutende Chance in der Satellitenkommunikationsbranche geschätzt wird.
- Business combination with Lynk Global remains on track
- Extended termination date for the business combination until December 25, 2024
- Lynk Global secured commercial contracts with global mobile network operators
- Lynk Global signed a contract to provide sat2phone services to U.S. government agencies
- Sat2phone market estimated to be a large opportunity in the satellite communications industry
- SLAM Corp. securities to be delisted from Nasdaq
- Transition to OTC Markets may impact stock liquidity and visibility
Insights
The transition of SLAM Corp. from Nasdaq to OTC Markets is a neutral development for investors. While delisting from a major exchange can sometimes be viewed negatively, in this case, it's a procedural move related to timing requirements. The company's commitment to the Business Combination with Lynk Global and plans to re-list on Nasdaq post-merger are positive signals.
The extended termination date for the Business Combination to December 25, 2024, provides additional time to complete the transaction, reducing short-term uncertainty. The sat2phone market's potential, estimated at
Investors should monitor the progress of the Business Combination and Lynk's commercial developments, as these will likely be key drivers of future value.
The satellite-direct-to-standard-phone (sat2phone) technology that Lynk Global is developing represents a significant leap in telecommunications. This technology has the potential to solve connectivity issues for over 5 billion mobile phone users globally, particularly in remote or underserved areas.
Lynk's recent commercial contracts with global mobile network operators and the U.S. government demonstrate strong market validation for their technology. The sat2phone market is positioned to be a major growth driver in the space industry, potentially becoming the largest opportunity in satcom's history.
Investors should consider the long-term potential of this technology and its ability to disrupt traditional telecommunications models. However, they should also be aware of potential challenges such as regulatory hurdles and competition from other satellite communication companies entering this space.
The transition of SLAM Corp. to OTC Markets, while maintaining the same ticker symbols, ensures continuity for shareholders. This move, coupled with the extended termination date for the Business Combination, indicates a strategic approach to completing the merger with Lynk Global.
The sat2phone market's potential cannot be overstated. Analysts' projections of it becoming the largest opportunity in satcom's history suggest a massive addressable market. Lynk's progress in securing commercial contracts with both private and government entities demonstrates strong market traction.
Investors should view this as a pivotal moment in the company's trajectory. The planned re-listing on Nasdaq post-merger could potentially increase visibility and liquidity. However, it's important to monitor the execution of the Business Combination and Lynk's ability to capitalize on its early market position in the evolving sat2phone industry.
SLAM and Lynk Global Remain Committed to Business Combination and Combined Company Expects to list on Nasdaq Upon Close
Trading to Continue Under Same SLAM and SLAMW Ticker Symbols
Slam’s ongoing business combination (the “Business Combination”) with Lynk Global, Inc. (“Lynk”), the world’s leading commercially-licensed satellite-direct-to-standard-phone (“sat2phone”) telecoms provider, will be materially unaffected by the transition.
Ryan Bright, Chief Financial Officer of Slam, commented, “Slam and Lynk remain committed to the de-SPAC transaction and have extended the termination date of the Business Combination until December 25, 2024. Upon the closing of the transaction, the merged company is expected to list on Nasdaq under the symbol “LYNK” and its warrants under the symbol “LYNKW”. This expected transition from the Nasdaq to the OTC Market is a procedural measure due to a timing requirement from the exchange. We look forward to seeing the company trading on the Nasdaq once again at the close of the transaction.”
The Business Combination comes at a time of significant growth for the overall space industry with sat2phone as potentially the largest driver of that growth. Satellite-direct-to-standard phone technology solves a problem for over five billion mobile phone users in the
Shareholders will not need to take any action. Additional details will be made available in a Form 8-K filed by Slam on www.sec.gov.
About Slam Corp.
Slam Corp. (Nasdaq: SLAM) is a special purpose acquisition company established by baseball legend, investor and Chairman and Chief Executive Officer of A-Rod Corp., Alex Rodriguez, and Founder, Managing Partner and Chief Investment Officer of Antara Capital LP, Himanshu Gulati. Slam intends to pursue investment opportunities with companies that have large and growing addressable markets, significant revenue growth, defensible business models and superior market share.
About Lynk
Lynk is a patented, proven, and commercially-licensed satellite-direct-to-standard-mobile-phone system. Today, Lynk allows commercial subscribers to send and receive text messages to and from space via standard unmodified, mobile devices. Lynk’s service has been tested and proven on all seven continents, has regulatory approvals in at least 30 countries and is currently being deployed commercially based on more than 40 MNO commercial service contracts covering approximately 50 countries. Lynk is currently providing cell broadcast (emergency) alerts, and two-way SMS messaging, and intends to launch voice and mobile broadband services in the future. By partnering with Lynk, a mobile network operator opens the door to new revenue in untapped markets, gives subscribers peace of mind with ubiquitous connectivity, and provides a potential pathway to economic prosperity for billions. For more information, visit www.lynk.world.
Additional Information and Where to Find It
This communication relates to the business combination involving Lynk, Slam, Lynk Global Holdings, Inc., a
BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SLAM’S SHAREHOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT/ PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY AMENDMENTS THERETO AND ANY OTHER DOCUMENTS FILED BY SLAM OR TOPCO WITH THE SEC IN CONNECTION WITH THE BUSINESS COMBINATION OR INCORPORATED BY REFERENCE THEREIN IN THEIR ENTIRETY BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE BUSINESS COMBINATION BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES TO THE BUSINESS COMBINATION.
After the Registration Statement is declared effective, the definitive proxy statement will be mailed to shareholders of Slam as of a record date to be established for voting on the Business Combination. Additionally, Slam and Topco will file other relevant materials with the SEC in connection with the Business Combination. Copies of the Registration Statement, the definitive proxy statement/final prospectus and all other relevant materials for the Business Combination filed or that will be filed with the SEC may be obtained, when available, free of charge at the SEC’s website at http://www.sec.gov. In addition, the documents filed by Slam or Topco may be obtained, when available, free of charge from Slam at http://www.slamcorp.com. Slam’s shareholders may also obtain copies of the definitive proxy statement/ prospectus, when available, without charge, by directing a request to Slam Corp., 55 Hudson Yards, 47th Floor, Suite C,
No Offer or Solicitation
This communication is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the Business Combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. The Business Combination will be implemented solely pursuant to the Business Combination Agreement, filed as an exhibit to the Current Report on Form 8-K filed by Slam with the SEC on February 5, 2024, which contains the full terms and conditions of the Business Combination. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.
Participants in the Solicitation of Proxies
This communication may be deemed solicitation material in respect of the Business Combination. Slam, Lynk, Topco, Merger Sub 1, Merger Sub 2 and certain of their respective directors and officers may be deemed participants in the solicitation of proxies from Slam’s shareholders in connection with the Business Combination. Slam’s shareholders and other interested persons may obtain, without charge, more detailed information regarding the names and interests in the Business Combination of Slam’s directors and officers in Slam’s filings with the SEC, including Slam’s initial public offering prospectus, which was filed with the SEC on February 24, 2021, Slam’s subsequent annual reports on Form 10-K and quarterly reports on Form 10-Q. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Slam’s shareholders in connection with the Business Combination will be included in the definitive proxy statement/prospectus relating to the Business Combination when it becomes available. You may obtain free copies of these documents, when available, as described in the preceding paragraphs.
Cautionary Statement Regarding Forward Looking Statements
Certain statements made in this communication, and oral statements made from time to time by representatives of Slam, Topco and Lynk are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as “estimate,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “potential,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the benefits of technology, including who or how many people will benefit from technology, the financial position, business strategy and the plans and objectives of management for future operations including as they relate to the Business Combination and related transactions, including the anticipated financing, pricing and market opportunity, the satisfaction of closing conditions to the Business Combination and related transactions, the level of redemptions by Slam’s public shareholders and the timing of the completion of the Business Combination, including the anticipated closing date of the Business Combination, listing of the combined company’s securities and the use of the cash proceeds therefrom. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Slam’s, Topco’s and Lynk’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
The forward-looking statements involve significant risk and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, among others, the following: (1) the inability of the parties to successfully or timely consummate the Business Combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Business Combination; (2) satisfaction or waiver (if applicable) of the conditions to the Business Combination, including with respect to the approval of the shareholders of Slam; (3) the ability to list the combined company’s securities on Nasdaq; (4) the risk that the Business Combination disrupts current plans and operations of Slam or Lynk as a result of the announcement and consummation of the transactions described herein; (5) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) uncertainty of the costs related to the Business Combination; (7) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the Business Combination; (8) the possibility that Slam and Lynk may be adversely affected by other economic, business, and/or competitive factors; (9) the outcome of any legal proceedings that may be instituted against Slam, Topco or Lynk or any of their respective directors or officers, following the announcement of the Business Combination; (10) the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated shareholder redemptions and purchase price and other adjustments; (11) risks related to domestic and international political and macroeconomic uncertainty, including the
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1 Analysys Mason – The Largest Opportunity in Satcom’s History: Direct Satellite-to-Device.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240826577862/en/
Lynk Global, Inc.
Tony DeTora
tdetora@lynk.world
ICR, Inc.
Investors: Brett Milotte
Brett.Milotte@icrinc.com
Media: Keil Decker
Keil.Decker@icrinc.com
Source: Slam Corp.
FAQ
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