Company: SZZL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044190
Chunk: 83

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 83
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 we may issue additional securities or incur debt in connection
with such Business Combination.

To mitigate the risk that we might be deemed to
be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the Trust
Account, we may, at any time, based on our Management team’s ongoing assessment of all factors related to our potential status under
the Investment Company Act, instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the funds
in the Trust Account in cash or in an interest-bearing demand deposit account at a bank.

Off-Balance Sheet Arrangements

We have no obligations, assets or liabilities,
which would be considered off-balance sheet arrangements as of March 31, 2025. We do not participate in transactions that create relationships
with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established
for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements,
established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual Obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement to pay VO Sponsor II Management, LLC, the managing
member of the Sponsor, a monthly fee of $15,000 for office space, utilities, and secretarial and administrative support services. We began
incurring these fees on April 1, 2025 and will continue to incur these fees monthly until the earlier of the completion of the Business
Combination and our liquidation.

The underwriters were entitled to a cash underwriting
discount of $4,000,000 (2.0% of the gross proceeds of the Units offered in the Initial Public Offering, excluding any proceeds from Units
sold pursuant to the underwriters’ Over-Allotment Option), which was paid at the closing of the Initial Public Offering. Additionally,
the underwriters are entitled to a deferred underwriting discount of 4.5% of the gross proceeds of the Initial Public Offering held in
the Trust Account other than those sold pursuant to the underwriters’ Over-Allotment Option and 6.5% of the gross proceeds sold
pursuant to the underwriters’ Over-Allotment Option, $10,950,000 in the aggregate, payable upon