Lynk Global to Go Public in Merger with Alex Rodriguez's Slam Corp

The merger aims to raise funds for Lynk's satellite-to-phone connectivity project, with plans to deploy 5,000 satellites for global coverage.

Lynk Global finalizes a merger with Slam Corp, led by Alex Rodriguez, aiming to list on Nasdaq and raise funds for its satellite-to-phone connectivity project.
The merger values Lynk at $800 million, with plans to deploy 5,000 satellites for global direct-to-smartphone connectivity.
Lynk currently operates three satellites, providing intermittent connectivity in remote locations, and seeks to raise additional capital through various avenues.
The company projects significant revenue growth, expecting to make $41 million by the end of 2025 with 74 satellites, enabling messaging services for over 100 million subscribers.
Despite the SPAC's dwindling reserves and high shareholder redemption rates, Lynk forges ahead with its public market debut, competing with other satellite-to-phone initiatives.