Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 78

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 78
---
 2025  
    2024 
  
    Assets: 

    Marketable securities held in Trust Account 
    1 
    $234,714,504  
    $— 

The
following table presents information about the Company’s equity instruments that are measured at fair value on April 3, 2025, the
date of the Initial Public Offering, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine
such fair value:

    Level 
    April 3, 2025 
  
    Equity: 

    Fair value of Public Rights for Class A Ordinary Shares subject to possible redemption allocation 
    3 
    $3,404,000 

The
fair value of the Public Rights issued in the Initial Public Offering is $3,404,000, or $0.148 per Public Right. The Public Rights issued
in the Initial Public Offering have been classified within shareholders’ deficit and do not require remeasurement after issuance.
The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Rights issued
in the Initial Public Offering:

    April 3, 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