October 4, 2022

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Retired Yankees slugger Alex Rodriguez desires to increase $500 million with new business enterprise

2 min read

A-Rod hopes his most recent undertaking is not a bust.

Retired Yankees slugger Alex Rodriguez hopes Slam Corp can elevate $500 million in its original general public presenting. Rodriguez is the most important backer of the business, together with hedge fund Antara Capital.

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From Reuters:

Slam Corp, a unique function acquisition business (SPAC), reported it would promote 50 million models, comprising shares and warrants, priced at $10 apiece in the IPO.

A SPAC is a shell organization that raises revenue in an IPO to merge with a privately held business, turning it into a publicly traded firm.

Slam Corp is backed by Rodriguez’s A-Rod Corp, which invests in startups and other companies. …

SPACs have emerged as a preferred IPO different for corporations, offering a route to heading community with a lot less regulatory scrutiny and extra certainty in excess of the valuation that will be attained and cash that will be lifted.

Rodriguez’s most current business undertaking comes three months soon after he and fiancee Jennifer Lopez fell shorter in their quest to acquire the New York Mets.

Rodriguez is now battling his former brother-in-regulation in court docket more than allegations that Rodriguez owes him hundreds of thousands of dollars following chopping him out the true estate organization they shaped alongside one another. Constantine Scurtis reported the romantic relationship went bitter just after Rodriguez allegedly cheated on his then-wife, Cynthia Scurtis.

Rodriguez has slammed the match in courtroom, contacting it “scandalous.”

Rodriguez made $441 million above 22 large-league seasons. He helped the Yankees acquire a Earth Collection in 2009 and strike 696 vocation household operates — the fourth most in record. He was also two times suspended amid steroid allegations.

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