SportsTek Acquisition Corp.
SPTKU
NASDAQ Capital Market10.06
USD
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SportsTek Acquisition Corp.
SPTKU
(NASDAQ Capital Market)
Recent
price
10.06
P/E
ratio
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div
yld
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ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- SportsTek Acquisition Corp. (SPTKU) operates as a blank check company, or special purpose acquisition company (SPAC), with no significant ongoing operations; it pursues mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations targeting businesses in the sports and related sectors, including sports franchises, media, data analytics, technology, and services serving those end markets, primarily in North America. Incorporated in 2020 and headquartered at 2200 S. Utica Place, Suite 450, Tulsa, Oklahoma, the company raised $150 million in its upsized initial public offering in February 2021, issuing 15 million units at $10 each on Nasdaq, with separate trading of Class A common shares (SPTK) and warrants (SPTKW) commencing in April 2021. Leadership includes Chairman and Co-CEO Jeffrey Luhnow, Co-CEO C. Tavo Hellmund, and CFO/COO Timothy W. Clark, who bring expertise from sports management, Formula 1 promotion, and finance. In late 2022, SportsTek entered a non-binding letter of intent for a business combination with Metavisio (d/b/a Thomson Computing), a French laptop manufacturer valued at $140 million to $160 million, extended exclusivity multiple times through December but mutually terminated the LOI due to adverse market conditions and regulatory uncertainty around SPACs; the board then abandoned a stockholder-approved extension and initiated dissolution and liquidation, redeeming all public shares effective around December 27, 2022, with shares cancelled thereafter and proceeds distributed via Continental Stock Transfer & Trust Company, marking the cessation of operations as a SPAC with no subsequent mergers, acquisitions, or activity reported.
SportsTek Acquisition Corp. Announces the Separate Trading of its Shares of Class A Common Stock and Redeemable Warrants Commencing April 9, 2021
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