Sizzle Acquisition Corp. II (SZZL) entered into a Business Combination Agreement (BCA) with Trasteel Holding S.A. on April 13, 2026. The transaction values Trasteel at $800 million, to be paid in Pubco Ordinary Shares valued at $10.00 per share. The deal involves the formation of a new Luxembourg-based public holding company (Pubco) that will acquire Trasteel and merge with Sizzle II. Sizzle II shareholders will receive Pubco Ordinary Shares in exchange for their existing holdings. The transaction is subject to a Minimum Cash Condition of $75 million, which includes funds in the trust account and potential PIPE financing. Trasteel is required to deliver PCAOB-audited financial statements for 2024 and 2025 by July 31, 2026.