Company: SZZL
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075798
Chunk: 11

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 of up to $500,000 (Note 5), as well as the proceeds of the Initial Public Offering and the Private Placement. As of June 30, 2025,
the Company had $1,116,277 of cash and a working capital of $952,612.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the
Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital
Loans”). If the Company completes a Business Combination, the Company would repay such Working Capital Loans at that time. Up to
$1,500,000 of such Working Capital Loans may be converted into units of the post-Business Combination entity at a price of $10.00 per
unit. The units would be identical to the Private Placement Units. As of June 30, 2025, and December 31, 2024, no such Working Capital
Loans were outstanding.

In connection with the Company’s assessment
of going concern considerations in accordance with FASB ASC 205-40 “Going Concern,” the Company does not believe it will need
to raise additional funds in order to meet the expenditures required for operating its business over the period of twelve months from
the date of the issuance of the accompanying unaudited condensed financial statements. However, if the estimate of the costs of identifying
a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary
to do so, the Company may have insufficient funds available to operate its business prior to the initial Business Combination. Management
plans to consummate an initial Business Combination prior to the end of the Combination Period. The Company cannot assure its shareholders
that its plans to raise capital or to consummate an initial Business Combination will be successful.

7

SIZZLE ACQUISITION CORP. II

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Note 2. Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain
information or footnote disclosures normally included in financial statements prepared