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European Lithium Ltd. agreed to merge with Sizzle Acquisition Corp., in a deal that could value the combined entity at more than $500 million.
Australia-based European Lithium requested a trading halt pending developments in the proposed merger transaction.
Sizzle is a blank-check company that raised $155 million in a November 2021 initial public offering.
In August, European Lithium inked a deal to supply BMW AG with supply battery-grade lithium hydroxide.
The company has said it’s well located to service European consumers, the electric-vehicle industry, and battery manufacturers in the region. Its key lithium deposit is based outside of Vienna.
