(CercleFinance.com) – Metavisio (THOMSON Computing) announces the end of the exclusive negotiations started on September 9, 2022 with the American company SportsTek Acquisition Corp., an American structure incorporated in the form of an acquisition vehicle ‘Special Purpose Acquisition Company ‘ (SPAC).
The negotiations focused on a possible business combination under which the combined entity would be listed on Nasdaq.
Metavisio advises that given the difficult market conditions for SPACs in the United States and the high level of reimbursement of SportsTek’s escrow account decided by the shareholders meeting on December 20, 2022, ‘the remaining funds available are not at the expected level. by the shareholders of Metavisio’.
Consequently, Metavisio and SportsTek have agreed today to end their exclusive negotiations and will not sign the contractual documents relating to the business combination.