SCHEDULE 13G/A: Investment Advisers Report 0% Beneficial Ownership in Slam Corp. Class A Shares

Westchester Capital Management, Virtus Investment Advisers, and The Merger Fund have jointly filed an amendment to their Schedule 13G, reporting 0% beneficial ownership of Slam Corp.'s Class A ordinary shares as of December 31, 2024.

Summary

• Westchester Capital Management, LLC, Virtus Investment Advisers, LLC, and The Merger Fund (collectively, the "Reporting Persons") have filed an Amendment No. 1 to their Schedule 13G.
• The filing indicates that as of December 31, 2024, each Reporting Person, individually and collectively, beneficially owns 0% of Slam Corp.'s Class A ordinary shares.
• The aggregate amount beneficially owned by each Reporting Person is reported as 0.00 shares.
• The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Slam Corp.
• Slam Corp.'s Class A ordinary shares have a par value of $0.0001 per share and a CUSIP number of G8210L105.
• The beneficial ownership percentage is based on 9,077,959 shares outstanding as of November 19, 2024, as reported in Slam Corp.'s Quarterly Report on Form 10-Q filed on August 19, 2024.
• Virtus Investment Advisers, LLC serves as the investment adviser to The Merger Fund, The Merger Fund VL, and Virtus Westchester Credit Event Fund.
• Westchester Capital Management, LLC serves as sub-advisor to The Merger Fund, The Merger Fund VL, Virtus Westchester Credit Event Fund, and JNL Multi-Manager Alternative Fund.
• The Reporting Persons disclaim beneficial ownership of the shares held by the Funds, except to the extent of their pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing (Schedule 13G/A) reporting beneficial ownership. The 0% ownership indicates a reduction or clarification of their stake, which is neutral in sentiment as it's a compliance update rather than a performance or strategic announcement.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a routine regulatory disclosure by investment advisers and funds, indicating their current beneficial ownership status in a public company. It reflects compliance with SEC reporting requirements for significant shareholders, or in this case, a change to a non-reportable threshold.

Stakeholder Impact

• Shareholders: Provides updated information on the beneficial ownership of certain institutional investors, indicating that these specific entities no longer hold a reportable stake (above 5%) in Slam Corp. This could imply a reduction in institutional holding, but does not necessarily reflect a change in the company's fundamentals.

Key Dates

Keywords

Slam Corp., Schedule 13G/A, Beneficial Ownership, Westchester Capital Management, Virtus Investment Advisers, The Merger Fund, Class A Ordinary Shares, SEC Filing, Investment Adviser, Sub-advisor