SportsTek Acquisition today said it entered into a non-binding letter of intent to consider a possible merger with Metavisio (d/b/a Thomson Computing), a French company specializing in building, marketing, and selling laptops. Metavisio securities list on the Euronext Growth in Paris.
The proposed transaction is based on an enterprise value of Metavisio of $140 million to $160 million; however, the SPAC said the valuation remains subject to due diligence. The LOI, which expires Nov. 9, provides for an exclusivity period for due diligence and the negotiation of a definitive agreement.
SportsTek raised $150 in a February 2021 IPO to focus on a target within the sports and related sectors. Read more.
