Lynk Global Inc. said Monday it agreed to combine with Slam Corp., the blank-check company led by ex-Yankees All-Star Alex Rodriguez, in a deal valued at $800 million.
Lynk Global said the transaction with Slam Corp.
SLAM,
will allow it to become a publicly traded mobile-network technology company that “offers universal connectivity for mobile phones.”
The combined company is expected to be valued “at no less than $800 million” upon listing.
Slam’s stock was unchanged at $10.85 a share on Monday.
Slam was established in 2020 by Rodriguez, who serves as its chief executive, and Antara Capital managing partner Himanshu Gulati. It went public in April 2021.
Rodriguez is also the founder of the A-Rod Corp, an investment firm whose investments include Hims & hers, Petros PACE, Density, Step, Super Coffee and Sonder.
Rodriguez also founded real-estate development company Newport Property Construction in 2008 and Monument Capital Management, a real-estate investment firm, in 2012, according to his biography on Slam Corp.’s IPO prospectus.
He retired from baseball in 2016 after a 22-year MLB career that featured winning the 2009 World Series with the Yankees.
Lynk Global raised its first round of capital in 2017 and has been backed by Blazar Ventures, Revolution Ventures, Virginia Venture Partners and Arpu Research Labs, according to FactSet data.
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