Slam Corp amends and restates $15.51 million promissory note with Slam Sponsor
SLAM•Slam Corp issued an amended and restated $15.51 million note to Slam Sponsor, consolidating 10 prior notes without new borrowing. The note accrues non-compounding interest at the Wall Street Journal prime rate and matures on its fifth anniversary.
1. Note terms
The note was issued on Oct. 1, 2026, and terminates undrawn commitments. It is payable with principal, and Slam Corp can repay it in Class A shares based on the 20-day volume-weighted average price. If the company liquidates without completing a deal, amounts are forgiven except for funds outside the trust; the sponsor waived claims against the trust and ended a right to convert 1.5 million warrants.
