News regarding the initial public offering (IPO) of Slam Corporation (NASDAQ:SLAMU) is buzzing on Wall Street. And now, shares of SLAMU stock will begin trading on Tuesday.
Slam Corp. is a new special purpose acquisition company (SPAC) led by former professional baseball player and current investment firm manager Alex Rodriguez. That said, what should potential investors know about SLAMU stock? Let’s take a closer look at the company and its Wall Street debut.
- Rodriguez, who is the chairman and CEO of his investment firm A-Rod Corp, acts as Slam Corp.’s CEO and Director
- Himanshu Gulati — the founder, managing partner, and CIO of Antara Capital — is Slam Corp.’s chairman.
- The new SPAC firm’s IPO features a $500 million price tag, including 50 million shares at $10 per share.
- Slam Corp. will then begin trading on the Nasdaq on Tuesday under the “SLAMU” stock ticker.
- Moreover, each unit sold consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
- With the deal currently how it is set, Slam Corp.’s market value sits around $625 million.
- Overall, Slam Corp. “plans to target the sports, media, entertainment, health and wellness, and consumer technology sectors. It does not intend to target professional sports franchises.”
Furthermore, Goldman Sachs and BTIG were the lead financial managers on the deal.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.