Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On April 5, 2022, Slam Corp. (the "Company") issued an unsecured promissory note
(the "Note") in the principal amount of $150,000 to Slam Sponsor, LLC (the
"Sponsor"). The Note does not bear interest and is repayable in full upon
consummation of the Company's initial business combination (a "Business
Combination"). If the Company does not complete a Business Combination, the Note
shall not be repaid and all amounts owed under it will be forgiven. Upon the
consummation of a Business Combination, the Sponsor shall have the option, but
not the obligation, to convert the principal balance of the Note, in whole or in
part, into private placement warrants (as defined in that certain Warrant
Agreement, dated February 25, 2021, by and between the Company and Continental
Stock Transfer & Trust Company), at a price of $1.50 per private placement
warrant. The Note is subject to customary events of default, the occurrence of
which automatically trigger the unpaid principal balance of the Note and all
other sums payable with regard to the Note becoming immediately due and payable.
The Note was issued pursuant to the exemption from registration contained in
Section 4(a)(2) of the Securities Act of 1933, as amended.
The Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated herein by reference. The disclosure set forth in this Item 2.03 is
intended to be a summary only and is qualified in its entirety by reference to
the Note.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Promissory Note, dated April 5, 2022, issued by Slam Corp. to Slam
Sponsor, LLC
104 Cover page Interactive Data File (embedded within Inline XBRL document)
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