Steve Salis' SPAC lands deal to take another European metals company public
perigon
Last updated: April 16, 2026
Steve Salis is set to merge his second SPAC, Sizzle Acquisition Corp. II, with Trasteel, a Swiss steel trading company. This transaction values Trasteel at an estimated $800 million.
- The proposed merger involves Sizzle Acquisition Corp. II and Trasteel, a firm specializing in steel trading.
- The business combination is expected to finalize the valuation of Trasteel at $800 million.
- This deal represents the second Special Purpose Acquisition Company (SPAC) initiative led by Steve Salis.
- SPACs are companies formed to raise capital through an initial public offering (IPO) for the purpose of acquiring or merging with an existing private company.
- Trasteel operates within the global steel industry, facilitating the trading of steel products.
- The acquisition by a SPAC indicates a strategy to take Trasteel public without a traditional IPO process.
- The financial terms of the deal place Trasteel's market value at $800 million upon completion of the merger.
- This move allows Salis to pursue another acquisition through his SPAC vehicle.
