SportsTek Acquisition in a preliminary proxy seeks a deadline extension from Feb. 19, 2023 to Aug. 19, 2023.
Earlie this week the SPAC said it extended the exclusivity period under a non-binding letter of intent with Metavisio (d/b/a Thomson Computing) to continue discussion of a potential merger. Metavisio is a French company specializing in building, marketing, and selling laptops. The company’s securities list on Euronext Growth in Paris.
The proposed transaction under consideration is based on Metaviso having an enterprise value of $140 million to $160 million, subject to due diligence. The exclusivity period for due diligence and the negotiation of a definitive agreement, as extended, will expire Dec. 9. However, both parties by mutual agreement can extend the discussions.
SportsTek management in the latest filing that closing a deal before the current February deadline is unlikely.
SportsTek raised $150 million in a February 2021 IPO. Read more.
