SCHEDULE: Digital Investment Strategy Acquires Slam Sponsor, 99.5% Stake

Digital Investment Strategy LLC has acquired Slam Sponsor, LLC, gaining beneficial ownership of 99.5% of Slam Corp.'s Class A Ordinary Shares.

Summary

• Digital Investment Strategy LLC acquired 100% of the equity interests of Slam Sponsor, LLC on March 2, 2026, through a securities purchase agreement dated January 27, 2026.
• This acquisition results in Digital Investment Strategy LLC beneficially owning 14,212,000 Class A Ordinary Shares of Slam Corp., representing approximately 99.5% of the 14,284,324 outstanding shares as of February 5, 2026.
• Slam Sponsor, LLC initially acquired 14,375,000 Class B ordinary shares for $25,000 (approximately $0.002 per share) on December 31, 2020.
• Slam Sponsor, LLC converted 14,210,000 Class B Ordinary Shares into Class A Ordinary Shares on January 16, 2025.
• Slam Sponsor, LLC purchased 11,333,333 private placement warrants for $1.50 each, entitling the holder to purchase one Class A Ordinary Share at $11.50 per share.
• Slam Sponsor, LLC provided working capital loans to Slam Corp. totaling at least $1,474,000, which are convertible into private placement warrants at $1.50 per warrant upon a business combination.
• Digital Investment Strategy LLC entered into an advisory agreement with Rose & Co. Capital Advisors, LLC on October 23, 2025, to assist with a contemplated initial business combination, involving a $250,000 upfront cash payment and a success fee of $500,000 cash plus $250,000 in restricted common shares upon consummation.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive development, as it consolidates control and indicates active pursuit of a business combination, which is critical for a SPAC. However, the inherent risks of SPACs, such as the deadline for a business combination and potential warrant expiration, remain.

Positives

• The acquisition by Digital Investment Strategy LLC consolidates a significant ownership stake, potentially streamlining decision-making for Slam Corp.'s future and its pursuit of a business combination.
• The engagement of Rose & Co. Capital Advisors, LLC indicates active and professional pursuit of an initial business combination, which is crucial for a SPAC's success.
• Slam Sponsor, LLC has provided substantial working capital loans to the Issuer, demonstrating financial support and commitment to the SPAC's operations.

Negatives

• The private placement warrants held by Slam Sponsor, LLC will expire worthless if Slam Corp. does not complete a business combination by the specified deadline, representing a potential loss of investment.
• The working capital loans provided by Slam Sponsor, LLC will be forgiven if a business combination is not completed, posing a financial risk to the lender (now Digital Investment Strategy LLC).
• The significant beneficial ownership (99.5%) by a single entity (via its subsidiary) could raise concerns about minority shareholder influence or potential for a take-private transaction.

Risks

• Failure to Complete Business Combination: The private placement warrants and working capital loans are contingent on the completion of an initial business combination. If no business combination occurs by the deadline, warrants expire worthless, and loans are forgiven.
• Dilution Risk: Conversion of working capital loans into private placement warrants and the exercise of existing warrants could lead to dilution for other shareholders.
• Market Conditions: General market, industry, and economic conditions could impact the Issuer's prospects and the Reporting Persons' investment decisions.
• Regulatory Scrutiny: Extraordinary corporate transactions, such as take-private deals, may attract regulatory scrutiny.

Future Outlook

The Reporting Persons intend to continuously review their investment in Slam Corp. and may pursue various strategic actions, including acquiring or selling securities, engaging with management and the board, or exploring extraordinary corporate transactions such as a business combination, merger, take-private transaction, security offerings, asset sales, or changes to the Issuer's capitalization, dividend policy, management, or board composition.

Management Comments

• Digital Investment Strategy LLC is principally engaged in the business of investing, including in securities of the Issuer.
• Slam Sponsor, LLC's principal business is to act as the Issuer's sponsor in connection with the Issuer's initial public offering and potential future business combination.
• The Reporting Persons intend to review their investments in the Issuer on a continuing basis.

Industry Context

StockSavvy.ai notes that this Schedule 13D filing highlights a significant ownership consolidation within a Special Purpose Acquisition Company (SPAC) structure. The acquisition of Slam Sponsor, LLC by Digital Investment Strategy LLC, resulting in a near-total beneficial ownership, suggests a strategic move to control the SPAC's direction, particularly concerning its crucial initial business combination. This concentration of ownership is common in SPACs where sponsors play a dominant role in identifying and executing mergers, but it also underscores the inherent risks and timelines associated with these vehicles, especially regarding warrant expiration and loan forgiveness if a deal is not completed.

Comparison to Industry Standards

• The beneficial ownership of 99.5% by the sponsor entity (now controlled by Digital Investment Strategy LLC) is exceptionally high, even for a SPAC sponsor, indicating almost complete control over the company's strategic direction and future.
• The structure of working capital loans convertible into private placement warrants at a fixed price ($1.50 per warrant) is a standard mechanism for SPAC sponsors to provide interim funding while aligning their incentives with a successful business combination.
• The engagement of an advisory firm like Rose & Co. Capital Advisors, LLC for a contemplated initial business combination is a common practice among SPACs seeking expertise in deal sourcing and execution.

Corporate Governance

Related Party Transactions

• Slam Sponsor, LLC provided working capital loans to Slam Corp. totaling at least $1,474,000, which are convertible into private placement warrants.
• Slam Sponsor, LLC purchased 11,333,333 private placement warrants from the Issuer.
• Slam Sponsor, LLC initially acquired Class B ordinary shares from the Issuer and later transferred some to the Issuer's independent directors, officers, and special advisor, and subsequently repurchased some.
• Digital Investment Strategy LLC, as the sole member of Slam Sponsor, LLC, now controls these related party transactions.

Stakeholder Impact

• Shareholders: The high concentration of ownership by Digital Investment Strategy LLC (via Slam Sponsor, LLC) could lead to reduced influence for minority shareholders. The pursuit of a business combination is critical for the value of Class A shares and warrants.
• Creditors: The working capital loans provided by Slam Sponsor, LLC are subject to forgiveness if a business combination is not completed, impacting the Issuer's financial structure and potentially other creditors.
• Management/Board: The Reporting Persons' stated intent to engage with management and the board, and potentially seek changes, indicates a direct influence on the company's leadership and strategic direction.

Next Steps

• Reporting Persons will continue to review their investments in Slam Corp. on an ongoing basis.
• Reporting Persons may acquire additional securities or sell existing holdings in the open market or privately negotiated transactions.
• Reporting Persons may engage in discussions with management, the board of directors, and other securityholders of the Issuer.
• Reporting Persons may encourage, cause, or seek to cause the Issuer to consider extraordinary corporate transactions, including a business combination or merger, reorganization, or take-private transaction.
• Reporting Persons may explore security offerings and/or stock repurchases by the Issuer, sales or acquisitions of assets or businesses, or changes to the capitalization or dividend policy.
• Reporting Persons may consider other material changes to the Issuer's business or corporate structure, including changes in management or the composition of the Board.
• Digital Investment Strategy LLC is working with Rose & Co. Capital Advisors, LLC to assist in connection with a contemplated initial business combination.

Key Dates

Recommendation

The filing indicates a significant consolidation of ownership and a clear intent to pursue a business combination, which is the primary objective of a SPAC. While the high ownership provides strong control, the success of the investment hinges entirely on the completion of a suitable business combination. Until a definitive target is announced and evaluated, the stock remains speculative, warranting a 'hold' for existing investors who understand the SPAC lifecycle and its inherent risks and opportunities.

Keywords

Slam Corp, Digital Investment Strategy LLC, Slam Sponsor LLC, Schedule 13D, Beneficial Ownership, SPAC, Special Purpose Acquisition Company, Private Placement Warrants, Working Capital Loans, Business Combination, Corporate Governance, Investment Strategy, SEC Filing