Restaurant and hospitality SPAC Sizzle Acquisition files for a $125 million IPO

Sizzle Acquisition, a blank check company formed by Salis Holdings targeting restaurant, hospitality, and other businesses, filed on Thursday with the SEC to raise up to $125 million in an initial public offering.

The Washington, DC-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Sizzle Acquisition would command a market value of $163 million.

The company is led by CEO and Chairman Steve Salis, the founder and CEO of multi-brand, multi-platform holding company Salis Holdings and a co-founder and former CEO of &pizza, and Vice Chairman Jamie Karson, the Executive Chairman of Salis Holdings. The company plans to target the restaurant, hospitality, food and beverage, retail, consumer, food and food related technology, and real estate industries such as "proptech."

Sizzle Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol SZZLU. The company filed confidentially on December 29, 2020. EarlyBirdCapital is the sole bookrunner on the deal.

The article Restaurant and hospitality SPAC Sizzle Acquisition files for a $125 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

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