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

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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Until the consummation of the Initial Public Offering,
our only source of liquidity was an initial purchase of Class B Ordinary Shares by the Sponsor, and loans from the Sponsor, which
were repaid subsequent to the closing of the Initial Public Offering.

Subsequent to the quarterly period covered by
this Report, on April 3, 2025, we consummated the Initial Public Offering of 23,000,000 Units, which includes the full exercise by the
underwriters of their Over-Allotment Option in the amount of 3,000,000 Option Units, at $10.00 per Unit, generating gross proceeds of
$230,000,000. Simultaneously with the closing of the Initial Public 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, 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
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 underwriting fee, and $604,267 of other offering costs.

13

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 deferred underwriting commissions), 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.  

We intend to use the funds held outside the Trust
Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

In order to finance transaction costs in connection
with a