Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 31

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 2025 
  
    Underlying share price 
    $9.84 
  
    Pre-adjusted value per Public Right 
    $0.98 
  
    Market adjustment(1) 
     15.0%
  
    Fair value per Public Right 
    $0.148 

  (1) Market adjustment reflects additional factors not fully captured by low volatility selection, which may include likelihood of Business Combination occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of share price prior to beginning of the exercise period. The adjustment is determined by comparing traded Public Right prices to simulated model outputs. The market adjustment was determined by calibrating traded Public Rights prices as of the valuation dates. 

The
fair value of the Public Rights was not remeasured subsequent to the Initial Public Offering.

17

SIZZLE
ACQUISITION CORP. II

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

Note
9. Segment Information

ASC
280 establishes standards for companies to report in their financial statements information about operating segments, products, services,
geographic areas, and major customers. “Operating segments” are defined as components of an enterprise for which separate
financial information is available that is regularly evaluated by the CODM, or group, in deciding how to allocate resources and assess
performance.

The
Company’s CODM has been identified as the Chief Financial Officer, who reviews the operating results for the Company as a whole
to make decisions about allocating resources and assessing financial performance. Accordingly, Management has determined that the Company
only has one operating segment.

The
CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported
on the accompanying unaudited condensed statements of operations as net income or loss. When evaluating the Company’s performance
and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

    For the
Three Months

    Ended September 30, 2025  
    For the 
Nine Months
Ended September 30, 2025  
    For the
Period from
July 8, 
2024
 (Inception)
 through September 30, 2024 
  
    General and administrative costs 
    $144,962  
    $394,025  
    $51,730