SportsTek Acquisition Corp. (NasdaqCM:SPTK) entered into a non-binding letter of intent to acquire Metavisio (ENXTPA:ALTHO) on September 9, 2022. The proposed transaction is based on an enterprise value of Metavisio of $140 million to $160 million. The transaction is subject to due diligence review and signing of definitive agreement. AS of December 9, 2022 SportsTek Acquisition Corp. has extended the exclusivity period under its non-binding letter of intent to December 31. 2022.

SportsTek Acquisition Corp. (NasdaqCM:SPTK) cancelled the acquisition of Metavisio (ENXTPA:ALTHO) on December 23, 2022. SportsTek announced that the board of directors has elected to abandon and not implement the extension that was approved by stockholders on December 20, 2022, because despite significant efforts to identify and complete an initial business combination, the Board does not believe that SportsTek will be able to complete an initial business combination on favorable terms even with the extension. SportsTek intends to dissolve and liquidate in accordance with the provisions of its Amended and Restated Certificate of Incorporation and will redeem all of the outstanding shares of common stock that were included in the units issued in its initial public offering.