Satellite startup Lynk Global, which has proven satellite-to-cell technology, plans to go public through a special purpose acquisition company (SPAC) merger with Alex Rodriguez’s SPAC, Slam Corp.Lynk and Slam Corp. announced Monday they have signed a non-binding letter of intent for a potential business combination. Monday’s announcement is a splashy return of the space SPAC with baseball star Rodriguez, known as A-Rod, looking to invest in space. Lynk Global CEO Charles Miller said in a statement that being a public company will give Lynk greater access to capital to bring satellite direct-to-device services to more people. The Slam Corp. blank check company went public in February 2021. The Slam SPAC is currently facing a deadline to complete a merger on or before Feb. 25, 2024.

Source: Libya Today December 19, 2023 03:41 UTC