Sizzle Acquisition, Trasteel to Combine, List on Nasdaq

MT Newswires Live

Apr 14

Sizzle Acquisition (SZZL), a blank-check company, and Trasteel Holding agreed to combine to form a new global steel trading and industrial public holding company.

The transaction is expected to close by the end of 2026, the companies said Monday in a statement. The combined entity is expected to be listed on Nasdaq under the ticker TSTL.

The deal values Trasteel at a pre-money equity value of $800 million and implies a pro forma enterprise value of about $1.3 billion, assuming no redemptions and including $184 million of net debt. Existing Trasteel shareholders will roll 100% of their equity into the new company.

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