(Boursier.com) — METAVISIO, a French company specializing in the construction, marketing and sale of portable computers, whose securities are listed on the Euronext Growth market in Paris, previously entered into exclusive negotiations on September 9, 2022 with SportsTek Acquisition Corp, an American company incorporated as a Special Purpose Acquisition Company (SPAC), whose securities are listed on the Nasdaq Capital Market, for a proposed business combination under which the combined entity would be listed on Nasdaq.
Given the difficult market conditions for SPACs in the United States and a high level of reimbursement of SportsTek’s escrow account decided by the shareholders at a special meeting on December 20, 2022, the remaining funds available in the SportsTek escrow account and to be contributed to METAVISIO, within the framework of the planned merger, in order to allow the development of METAVISIO’s activity on a global scale, are not at the level expected by METAVISIO’s shareholders.
Consequently, METAVISIO and SportsTek have agreed today to end their exclusive negotiations and will not sign the contractual documents relating to the business combination. METAVISIO shares will therefore remain listed on Euronext Growth in Paris.
METAVISIO remains convinced that a listing on Nasdaq or a dual listing on Euronext Growth and Nasdaq would constitute an ideal platform to access the American market and American investors and continues to explore projects in this direction.
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