Metavisio (THOMSON Computing) has announced the end of the exclusive negotiations it began on September 9, 2022 with SportsTek Acquisition Corp, a U.S.-based Special Purpose Acquisition Company (SPAC).

The negotiations concerned a possible business combination under which the combined entity would have been listed on the Nasdaq.

Metavisio reports that, given the difficult market conditions for SPACs in the USA and the high level of repayment of the SportsTek escrow account decided by shareholders at their meeting on December 20, 2022, 'the remaining funds available are not at the level expected by Metavisio shareholders'.

Consequently, Metavisio and SportsTek have agreed today to terminate their exclusive negotiations and will not sign the contractual documents relating to the business combination.

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