Company: SZZL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044190
Chunk: 51

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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ed at the fair value of the share-based payment, which is the more readily determinable value. The grants are amortized on a straight-line
basis over the requisite service periods, which is generally the vesting period. If an award is granted, but vesting does not occur, any
previously recognized compensation cost is reversed in the period related to the termination of service.

8

Recent Accounting Pronouncements

In November 2023, the FASB issued Accounting Standards
Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments
in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the CODM,
as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires that
a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment
profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all
annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide
all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is effective for fiscal
years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption
permitted. The Company adopted ASU 2023-07 on July 8, 2024, date of its incorporation.

Management does not believe that any other recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited condensed
financial statements.

NOTE 3. INITIAL PUBLIC OFFERING

Pursuant to the Initial Public Offering on April
3, 2025, the Company sold 23,000,000 Units, which includes the full exercise by the underwriters of their Over-Allotment Option amounting
to 3,000,000 Option Units, at a purchase price of $10.00 per Unit. Each Unit consists of one Public Share and one Public Right.

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the closing of the Initial
Public Offering, the Sponsor and Cantor purchased an aggregate of 600,000 Private Placement