SportsTek Acquisition Corp. and Metavisio (d/b/a Thomson Computing) Extend Exclusivity Period for Discussions With Respect to a Business Combination
NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) — 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 9. 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.