Sizzle Acquisition Slates Vote on European Lithium Deal | SPAC Feed

Sizzle Acquisition in a proxy filing called a Jan. 23 meeting for shareholders to vote on the proposed merger with mining company European Lithium.

Terms call for shareholders to receive approximately 67,989,216 shares in the combined company, equal to the amount of shares consisting of $750 million divided by the $11.03 redemption amount per share of Sizzle common stock.

If approved, upon closing the newly formed company would be named Critical Metals and would list on the nasdaq under the symbol CRML.

Upon closing, Critical Metals will own European Lithium's Wolfsberg Lithium Project as well as a 20% interest in additional Austrian projects currently held by European Lithium.

European Lithium will be the largest shareholder of Critical Metals and is also expected to continue to trade on the Australian Securities Exchange. 

At deal announcement in October 2022, the transaction was expected to provide approximately $159 million before expenses and the impact of any redemptions. Read more.

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• Source: https://spacfeed.com/sizzle-acquisition-slates-vote-on-european-lithium-deal