Slam Corp. and Lynk Global, Inc. Announce Definitive Business Combination Agreement
Portfolio Pulse from Benzinga Newsdesk
Slam Corp. (NASDAQ:SLAM) and Lynk Global, Inc. have announced a definitive business combination agreement, aiming to create Lynk Global Holdings, Inc., which will be listed on Nasdaq under the ticker symbol 'LYNK'. This merger leverages Lynk's sat2phone technology, compatible with 2G to 5G devices without modification, and aims to expand global wireless connectivity. The deal values Lynk at $800 million pre-money and is expected to close in the second half of 2024, subject to customary closing conditions and shareholder approval. The capital raised will accelerate the production of satellites and support operations, aiming to connect over two billion unconnected people worldwide.
February 05, 2024 | 1:21 pm
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Slam Corp.'s merger with Lynk Global, Inc. to form Lynk Global Holdings, Inc., aims to capitalize on the $1 trillion mobile wireless market by expanding global connectivity using sat2phone technology. The deal, valued at $800 million pre-money, is expected to close in the second half of 2024.
The merger between Slam Corp. and Lynk Global, Inc. is significant due to its potential to disrupt the global telecom market with innovative satellite-to-phone technology. The deal's valuation and the anticipated expansion into new markets could positively impact investor sentiment and the future stock price of the newly formed Lynk Global Holdings, Inc. The merger's focus on connecting unconnected populations and expanding wireless coverage globally presents a substantial growth opportunity, likely leading to positive short-term investor sentiment.
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