Sizzle Acquisition Corp. Announces Pricing of Upsized $135 Million Public Offering

Rhea-AI Summary

Sizzle Acquisition Corp. announced the pricing of its upsized initial public offering (IPO) of 13,500,000 units at $10.00 per unit. Trading on Nasdaq under the ticker symbol 'SZZLU' begins on November 4, 2021, with the offering expected to close on November 8, 2021. Each unit comprises one share of common stock and one-half of a redeemable warrant. Sizzle, a blank check company, plans to focus on mergers within the restaurant, hospitality, and related sectors. Cantor Fitzgerald is the sole book-runner for the offering, with an option for underwriters to purchase additional units.

Positive

• Initial public offering of 13,500,000 units priced at $10.00 per unit.
• Plans to focus on high-growth sectors including restaurant and hospitality.
• Cantor Fitzgerald as a strong book-running manager.

Negative

• No financials disclosed; potential market uncertainty regarding future mergers.
• Forward-looking statements indicate risks during the IPO process.

WASHINGTON--(BUSINESS WIRE)-- Sizzle Acquisition Corp. (the “Company” or “Sizzle”) announced today the pricing of its upsized initial public offering of 13,500,000 units, at a price of $10.00 per unit. The units will be listed on Nasdaq Global Market or Nasdaq and will trade under the ticker symbol “SZZLU” beginning on November 4, 2021. Each unit consists of one share of common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. After the securities comprising the units begin separate trading, the common stock and the warrants are expected to be listed on the Nasdaq under the symbol “SZZL” and “SZZLW,” respectively. The offering is expected to close on November 8, 2021, subject to customary closing conditions.

Sizzle is a new blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities, which are referred to as a “target business.” Sizzle’s prospective target business will not be limited to a particular industry or geographic region, although the Company intends to initially focus on target businesses in the restaurant, hospitality, food and beverage, retail, consumer, food and food related technology and real estate industries.

Sizzle is led by Chairman and CEO Steve Salis. In addition, Sizzle’s management team is comprised of: Jamie Karson, Nestor Nova and Daniel Lee; board directors, comprised of: Karen Kelley, David Perlin and Warren Thompson; and board advisors, comprised of: Carolyn Trabuco, Rick Camac and Geovannie Concepcion.

Cantor Fitzgerald & Co (“Cantor”) is acting as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,025,000 units to cover over-allotments, if any.

Registration statements relating to these securities were declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 3, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus, when available, may be obtained from the office of Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor, New York, New York, 10022; Email: prospectus@cantor.com.

FORWARD LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions of changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103006344/en/

Bullfrog + Baum

Jennifer Baum / Alyce Bonnar

pr@sizzlespac.com

Source: Sizzle Acquisition Corp.

FAQ

What is the IPO price for Sizzle Acquisition Corp. (SZZLU)?

The IPO price for Sizzle Acquisition Corp. is $10.00 per unit.

When will Sizzle Acquisition Corp. start trading on Nasdaq?

Sizzle Acquisition Corp. will begin trading on Nasdaq on November 4, 2021.

What are the components of the units in Sizzle's IPO?

Each unit consists of one share of common stock and one-half of a redeemable warrant.

What industries is Sizzle Acquisition Corp. focusing on for mergers?

Sizzle Acquisition Corp. intends to focus on the restaurant, hospitality, food and beverage, retail, and related sectors.

Who is managing the Sizzle Acquisition Corp. IPO?

Cantor Fitzgerald is acting as the sole book-running manager for the IPO.