Slam's Securities to be Delisted From Nasdaq Tuesday

Slam (SLAM) stock will be suspended from trading on Nasdaq starting Tuesday following Nasdaq's decision to delist its securities, the special purpose acquisition company said Monday.

To ensure uninterrupted market activity for its shareholders, Slam's shares and warrants are expected to begin trading Tuesday on the OTC Market under the tickers SLAM and SLAMW, respectively.

Slam said its transition is just a "procedural measure" that will not materially affect its ongoing business combination with satellite communications provider Lynk Global.

Both sides remain committed to the transaction, with the termination date of the business combination having been extended until Dec. 25, Slam said.

The merged company plans to list on Nasdaq under the symbol LYNK, with its warrants expected to be traded under the symbol LYNKW.

Price: 10.99, Change: -0.15, Percent Change: -1.35