Sizzle Acquisition II to Merge with Trasteel Holding

Sizzle Acquisition Corporation II Class A ( (SZZL) ) has issued an update.

On April 13, 2026, Sizzle Acquisition Corp. II signed a Business Combination Agreement with Luxembourg-based Trasteel Holding S.A. to create a new public holding company, Pubco, that will own Trasteel and, via a merger of Sizzle II into a Pubco subsidiary, make Sizzle II a wholly owned subsidiary of Pubco. At closing, Trasteel shareholders will receive $800 million in Pubco shares valued at $10 each, while Sizzle II shareholders will exchange their current securities for Pubco ordinary shares on a one-for-one basis.

The deal is structured with customary representations, covenants and closing conditions, including a minimum $75 million cash requirement from trust and new financing, audited Trasteel financials by July 31, 2026, and approvals from both companies’ shareholders and regulators. Lock-up, support and registration rights agreements align sponsors and Trasteel shareholders behind the transaction and restrict share sales post-closing, underscoring the parties’ commitment but also exposing the deal to timetable, financing and regulatory risks that could trigger termination if conditions are not met by the extended outside date in late 2026.

More about Sizzle Acquisition Corporation II Class A

Sizzle Acquisition Corp. II is a Cayman Islands-based special purpose acquisition company formed to merge with or acquire operating businesses and take them public, with its securities listed on Nasdaq. Trasteel Holding S.A., incorporated in Luxembourg, will become the operating company within a new Luxembourg-listed public holding company, Pubco, following the proposed transaction.

Average Trading Volume: 75,719

Technical Sentiment Signal: Strong Buy

Current Market Cap: $219M

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