Sizzle Acquisition yesterday said it adjourned a shareholders meeting until noon today when a vote is expected on the proposed merger with European Lithium.
“The meeting is being adjourned in order to facilitate matters in connection with the transactions,” the SPAC said.
This is the 5th time Sizzle has postponed a vote on the deal, which was announced in October 2022.
Previous delays were necessary for the SPAC to finalize a $10 million PIPE to support the deal. Additional discussions with other potential investors were still underway as of last week.
European Lithium is to be renamed Critical Metals at deal closing, if approved.
Sizzle raised $155 million in a November 2021 IPO, initially to focus on target businesses in the restaurant, hospitality, food and beverage, retail, consumer, food and food related technology and real estate industries. Since then, redemptions have removed about 83% of Sizzle’s trust.
At deal announcement, European Lithium was expected to receive approximately $159 million before expenses and any redemptions. Read more.
