Slam Corp Sues Lynk Global for Attempt to cancel merger

Slam Corp, a special purpose acquisition company (SPAC) founded by former baseball star Alex “A-Rod” Rodriguez, is suing satellite mobile provider Lynk Global in a Florida court to prevent it from backing out of a proposed merger.

Virginia-based Lynk moved to terminate its business combination agreement (BCA) with Slam, which then filed a complaint on June 19. Slam alleges that Lynk has broken the terms of its deal and not acted in good faith, claims which Lynk described as “baseless." The company said that it would “vigorously defend itself against Slam’s meritless claims and will continue to assert its rights under the BCA.”

On July 2, Lynk Global filed counterclaims against Slam in the US state of Delaware, with its argument expected to be made publicly available on July 7.

As part of its statement, Lynk insisted its “management team and partners remain focused on strengthening the company’s competitive position and executing its roadmap to deliver direct-to-device (D2D) services globally”.