On October 1, 2026, Slam Corp. issued an Amended and Restated Consolidated Promissory Note to Slam Sponsor, LLC. The new note amends, restates, and consolidates ten promissory notes previously issued to the Sponsor between November 30, 2021, and May 15, 2025.
The principal amount of the Consolidated Note is $15,514,982, which represents the aggregate amount funded and remaining outstanding under the prior notes. The company notes that this issuance does not evidence any new borrowing, and all undrawn commitments under the prior notes have been terminated.
Interest on the Consolidated Note accrues from October 1, 2026, at a rate per annum equal to the prime rate as published in The Wall Street Journal. The note matures on the fifth anniversary of its issuance, and the company states that the consummation of its initial business combination will not accelerate the maturity. If the company liquidates without completing a business combination, the note will be forgiven, with the exception of funds held outside the company's trust account, which the Sponsor has waived any claim against.
Slam Corp. retains the option to prepay the note at any time without premium or penalty. Additionally, the company may settle all or any portion of the outstanding amounts on or before maturity by issuing Class A ordinary shares or, following a business combination, the common equity of its successor or publicly traded parent. Share settlement would be valued at the 20-trading-day volume-weighted average price or fair market value.
Separately, the filing reports that Michael Frisch resigned as a member of the company's board of directors and audit committee, effective September 30, 2026. The audit committee now consists of Kain Warwick.
