SportsTek Acquisition Corp. and Metavisio (d/b/a Thomson Computing) Further Extend Exclusivity Period for Discussions With Respect to a Business Combination
December 09 2022 - 3:30PM
SportsTek Acquisition Corp. (Nasdaq: SPTK, SPTKU, and SPTKW),
a Delaware corporation (“SportsTek” or the “Company”), announced
today that it has extended the exclusivity period under the
non-binding letter of intent with Metavisio (d/b/a Thomson
Computing) (“Metavisio”), a French company specializing in
building, marketing, and selling laptops, whose securities are
listed on Euronext Growth in Paris, with respect to a proposed
business combination transaction (the “Proposed Transaction”). The
Proposed Transaction is based on an enterprise value of Metavisio
of USD 140 million to USD 160 million; however, such valuation is
subject to due diligence by the Company of Metavisio. The
exclusivity period for due diligence and the negotiation of a
definitive agreement, as extended, will expire on December 31.
2022. A binding commitment with respect to the Proposed Transaction
by the Company will only result from the execution of a definitive
agreement and then only upon the terms and conditions set forth in
the definitive agreement. There can be no assurance that the
Company and Metavisio will enter into a definitive agreement with
respect to the Proposed Transaction, or, if entered into, there is
no certainty of the terms that will be contained in such definitive
agreement.
About SportsTek
SportsTek is a blank check company formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. SportsTek’s strategy is to
find a business combination partner and to drive long-term
stockholder value creation through the collective experience of the
Company’s management team. For more information, you can access our
public filings at the SEC’s web site http://www.sec.gov.
About Metavisio
METAVISIO (THOMSON Computing) (ALTHO) is a
French company that specializes in building, marketing, and selling
laptops, whose securities are listed on Euronext Growth in
Paris.
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ from the forward looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Media Contact
SportsTek Acquisition Corp.918-957-1086
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