Sizzle Acquisition Corp. II to merge with Trasteel in deal valuing combined entity at ~$1.3B

Sizzle Acquisition Corp. II

Trasteel pre-money equity value $800M; implied pro forma enterprise value ~$1.3B (assuming no redemptions).
Existing Trasteel shareholders roll 100% of equity into Pubco; SPAC holders receive one Pubco share per SZZL share.
Pubco expected to list on Nasdaq under 'TSTL'; closing targeted by end of 2026.
Trasteel operates in 60+ countries with 13 factories, 4,000+ customers, and a hedged business model combining trading and industrial steel transformation.
Transaction approved unanimously by both boards; subject to shareholder votes and customary closing conditions.

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