(CercleFinance.com) – Metavisio announces an extension of the exclusive negotiations begun on September 9 with SportsTek, an American company incorporated as a vehicle for the acquisition of SPAC, with a view to a business combination project.
The two companies, which had agreed to respect an initial exclusivity period of 30 days, have just renewed it for an additional period of 30 days, ie until November 9 (inclusive).
“This period of exclusivity aims to allow the parties to finalize the conduct of due diligence as well as the legal and tax structuring of the proposed transaction,” explains the French laptop company.
Eventually, Metavisio shareholders wishing to participate in the operation would hold shares of the combined entity which would be listed on a market in the United States. Metavisio shares would then no longer be listed on Euronext Growth.
Neither party is obligated to pursue any transaction until the parties have negotiated and signed the final transaction documents, which should occur in principle at the end of this new 30-day period.