Trasteel to Go Public via Sizzle II Business Combination

Trasteel Holding S.A. will go public through a business combination with Sizzle Acquisition Corp. II to form a new global steel trading and industrial public holding company (Pubco). Upon closing, Trasteel and Sizzle II will become wholly owned subsidiaries of Pubco, which is intended to list on Nasdaq under the symbol TSTL.

The closing is expected by the end of 2026, subject to Trasteel and Sizzle II shareholder approvals and customary closing conditions. Trasteel, headquartered in Lugano (Switzerland) and Luxembourg, was formed in 2009 and operates trading and industrial transformation activities across more than 60 countries, with industrial transformation and trading each representing about 50% of sales.