Company: SZZL
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075798
Chunk: 91

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 91
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 Offering, we consummated the sale of 600,000 Private Placement Units to the Sponsor and Cantor, at a price of $10.00 per
Private Placement Unit in the Private Placement, generating gross proceeds of $6,000,000. Of those 600,000 Private Placement Units, the
Sponsor purchased 400,000 Private Placement Units and Cantor purchased 200,000 Private Placement Units.

Following the closing of the Initial Public Offering,
the full exercise of the Over-Allotment Option and the Private Placement, a total of $230,000,000 was placed in the Trust Account. We
incurred $15,554,267 of transaction costs, consisting of $4,000,000 of cash underwriting fee, $10,950,000 of Deferred Fee, and $604,267
of other offering costs.

For the six months ended June 30, 2025, cash used
in operating activities was $322,206. Net income of $2,031,279 was affected by dividend income earned on marketable securities held in
the Trust Account of $2,280,342 and payment of operation costs through the IPO Promissory Note of $20,567. Changes in operating assets
and liabilities provided $93,710 of cash for operating activities.

As of June 30, 2025, we had marketable securities
held in the Trust Account of $232,280,342. We intend to use substantially all of the funds held in the Trust Account, including any amounts
representing interest earned on the Trust Account (which interest shall be net of any taxes payable and excluding the Deferred Fee), to
complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete
our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of
the target business or businesses, make other acquisitions and pursue our growth strategies. 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