SportsTek Acquisition Corp. (SPTK) Signs LOI with Metavisio
by Nicholas Alan Clayton on 2022-10-14 at 8:18am

SportsTek Acquisition Corp. (NASDAQ:SPTK) announced this morning that it has entered into a non-binding letter-of-intent to combine with a computer-maker Metavisio (PA:ALTHO) at an enterprise value of $140 million to $160 million.

This valuation is subject to continued due diligence and the parties have agreed to an exclusivity period lasting until November 9. SportsTek has until February 19, 2023 to complete a transaction under its original transaction deadline.

So, this announcement is less like a traditional teaser to get it through an imminent vote, but may serve as a bit of a news to alert shareholders about what SportsTek has been up to before other complicating factors like pending regulation and tax questions may bring up other options towards the end of the year.

For Metavisio’s part, it makes laptops under the Thompson brand and plans to introduce gaming laptops and desktops this year. It currently has an estimated enterprise value of about $62 million and notched about €60.8 million ($59.1 million) in turnover in 2021 with €6.3 million ($6.1 million) in EBITDA, according to a corporate presentation.

In its home market of France, it now makes up about 36% of the market for laptops priced below €300, but this is also presumably the lowest-margin segment of the market. It has surprisingly managed this nonetheless with a mostly in-house team of 20 building its computers at its R&D and assembly center in France. It now plans to grow within the US and Asian markets and an up-list to the Nasdaq appears to be a part of that strategy.

It is up about +14.7% in the Paris market and SportsTek +0.3% in the New York pre-market on the news, but the SPAC will remain in SPACInsider‘s Searching column until or if this deal turns into a definitive agreement.

SportsTek Acquisition Corp. (SPTK) Signs LOI with Metavisio
Recent Posts
by Nicholas Alan Clayton on 2025-07-07 at 9:05am

Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...

by Nicholas Alan Clayton on 2025-07-07 at 8:50am

Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...

by Nicholas Alan Clayton on 2025-07-07 at 8:22am

At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...

by Kristi Marvin on 2025-07-05 at 10:02am

Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...

by Nicholas Alan Clayton on 2025-07-03 at 12:54pm

Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved