10-Q - Slam Corp. (0001838162) (Filer)

Thu, May 16, 9:30 PM (71 days ago)

Slam Corp., a blank check company, reported a net loss of $947,000 for Q1 2024, compared to a net loss of $713,000 in Q1 2023. The company's liquidity remains constrained with $93,000 in cash and a working capital deficit of $4.6 million as of March 31, 2024. Major expenses include $1.8 million in general and administrative costs and a $284,000 issuance of a Backstop Agreement. Income from investments in the Trust Account amounted to $933,000. The company extended its business combination deadline to December 25, 2024, and is actively working towards a merger with Lynk Global, Inc. Uncertainties persist, particularly regarding Nasdaq compliance and the ability to complete the merger within the specified timeframe.