**Slam Corp. Issues Promissory Note to Lender Following Shareholder Meeting**

Slam Corp. (OTCMKTS:SLAMU) recently announced the issuance of an unsecured promissory note to one of its affiliates, Slam Sponsor, LLC, following the Shareholder Meeting held on December 27, 2024. As per the details shared in a Form 8-K filed with the Securities and Exchange Commission, Slam Sponsor, LLC, also referred to as the Lender, will be contributing a loan of up to US$600,000 to Slam Corp.

The promissory note, dated December 27, 2024, outlines the terms of the loan agreement. Under the terms, the Lender has agreed to provide the Company with US$100,000 within five business days post the Shareholder Meeting. Additionally, further disbursements of up to US$100,000 each are scheduled for January 25, 2025, and February 25, 2025.

Interestingly, the Promissory Note does not bear any interest and is set to mature upon the completion of Slam Corp.’s initial business combination. In the event that the business combination does not materialize, the note will only be repaid from funds existing outside of the Trust Account.

The issuance of this promissory note aligns with the commitments outlined in the definitive proxy statement filed by Slam Corp. with the SEC, emphasizing the financial support agreed upon with Slam Sponsor, LLC in the context of the Shareholder Meeting.

It is important to note that the details of the promissory note are further elaborated in Exhibit 10.1 of the Form 8-K filing with the Securities and Exchange Commission, providing a comprehensive insight into the terms and conditions of the agreement.

This transaction adds a layer of financial flexibility for Slam Corp. as it moves forward with its strategic initiatives. Further updates and developments regarding this financial arrangement are anticipated in line with the Company’s future financial endeavors.

Investors, shareholders, and stakeholders are advised to stay informed about the progression of these financial agreements and the ensuing impact on Slam Corp.’s operations and financial position.

This news briefing is intended to provide an objective overview of the recent financial activity undertaken by Slam Corp. as reported in their recent SEC filing. It is recommended that interested parties refer to the original Form 8-K filing for more detailed and specific information on this matter.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Slam’s 8K filing here.

About Slam

Slam Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in New York, New York.