Item 8.01. Other Events.
On February 25, 2021, the Company consummated its IPO of 57,500,000 units (the
"Units") at an offering price of $10.00 per Unit, including 7,500,000 Units as a
result of the underwriters' exercise in full of their over-allotment option,
with each Unit consisting of one Class A ordinary share and one-fourth of one
redeemable warrant of the Company (the "Public Warrants"), and a private
placement with Slam Sponsor, LLC (the "Sponsor") of 11,333,333 private placement
warrants at a price of $1.50 per warrant as a result of the underwriters'
exercise in full of their over-allotment option (the "Private Placement").
The net proceeds from the IPO together with certain of the proceeds from the
Private Placement, $575,000,000 in the aggregate (the "Offering Proceeds"), were
placed in a trust account established for the benefit of the Company's public
shareholders and the underwriters of the IPO with Continental Stock Transfer &
Trust Company acting as trustee. Except for the withdrawal from interest earned
on the Offering Proceeds in the trust account that may be released to pay income
taxes, if any, none of the funds held in the trust account will be released
until the earlier of (i) the completion of the Company's initial business
combination, (ii) the redemption of the Company's public shares if the Company
is unable to consummate an initial business combination within 24 months from
the closing of the IPO, subject to applicable law, or (iii) the redemption of
any public shares properly submitted in connection with a shareholder vote to
amend the Company's Amended and Restated Memorandum and Articles of Association
(a) to modify the substance or timing of its obligation to allow redemption in
connection with the Company's initial business combination or to redeem 100% of
its public shares if the Company does not complete its initial business
combination within 24 months from the closing of the IPO or (b) with respect to
any other provisions relating to shareholders' rights.
An audited balance sheet as of February 25, 2021 reflecting receipt of the
Offering Proceeds has been issued by the Company and is included as Exhibit 99.1
to this Current Report on Form 8-K.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
99.1 Audited Balance Sheet dated February 25, 2021
104 Cover page Interactive Data File (embedded within Inline XBRL document)
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