Lynk forges ahead with public market debut despite SPAC's dwindling reserves [TechCrunch]
Slam Corp. - Unit (SLAMU)
Company Research
Source: TechCrunch
The two companies confirmed the deal on Monday after announcing a non-binding LOI with Rodriguez's special purpose acquisition company (SPAC), Slam Corp, in December. According to an investor presentation filed with regulators , the deal could give Lynk a $913.5 million post-money valuation. Much of the capital from the transaction will not come from the SPAC itself, however. In that same presentation, Lynk says around $800 million of the new capital will come from existing shareholder equity rollover, $110 million from private-investment-in-public-equity (PIPE), and a scant $25 million from cash held in-trust by the SPAC. Lynk, which has already entered some international commercial markets including Palau , is looking to compete on an even larger scale with initiatives like Starlink's emerging sat-to-cell, Apple's Globalstar partnership, and AST Space Mobile (which completed its own SPAC merger in April 2021). Lynk has launched eight satellites that it calls “cell towers in spa
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