Sizzle Acquisition Corp. II

Sizzle Acquisition Corp. II reported a net income of $3.42 million for the six months ended June 30, 2026, with $241.19 million held in its Trust Account. The SPAC has identified Trasteel as its target for a business combination, with an agreement dated April 13, 2026. However, the company faces a going concern uncertainty due to the limited time remaining until April 3, 2027, to complete a Business Combination.

Trasteel's Italian subsidiary, Profilmec Group, completed a significant energy efficiency and digitalization upgrade at its Cuneo production site in early July 2026. This initiative, developed with ABB and CIEB Nuova, includes a new electrical switchboard for real-time energy monitoring and predictive maintenance, aligning with Trasteel's strategy for operational excellence. The upgrade precedes Trasteel's previously announced business combination with Sizzle Acquisition Corp. II, which will form a new public holding company expected to trade as "TSTL". Management emphasized the importance of digitalization and energy management for competitiveness.

Sizzle Acquisition Corp. II (SZZL) announced it entered into a Business Combination Agreement with Trasteel Holding S.A. on April 13, 2026. For the three months ended March 31, 2026, the company reported a net income of $1,602,289, a significant improvement from a net loss of $42,127 in the prior year period, primarily due to $2,037,819 in income from its Trust Account. As of March 31, 2026, cash and marketable securities in the Trust Account totaled $239,045,028. The company also noted a going concern risk due to significant costs and the need to complete a Business Combination by April 3, 2027.

Sizzle Acquisition Corp. II (Sizzle II) announced it entered into a Business Combination Agreement with Trasteel Holding S.A. on April 13, 2026. The agreement outlines a transaction where a newly formed Luxembourg entity, Pubco, will acquire all outstanding ordinary shares of Trasteel Holding S.A. Upon the consummation of the transaction, Trasteel Holding S.A. will become a wholly-owned subsidiary of Pubco, and Trasteel's shareholders will receive Pubco Ordinary Shares.

Sizzle Acquisition Corp. II announced the execution of a Business Combination Agreement with Trasteel Holding S.A. and a newly formed Luxembourg corporation, Pubco. Under the agreement, Pubco will acquire Trasteel, making it a wholly-owned subsidiary, and Sizzle II will merge into a wholly-owned subsidiary of Pubco. Sizzle II securityholders will receive Pubco Ordinary Shares upon the consummation of the transactions.