Company: SZZL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044190
Chunk: 147

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 2
Chunk 147
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Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.

Unregistered Sales of Equity Securities

There were no sales of unregistered securities
during the quarterly period covered by this Report. However, 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.

Use of Proceeds

Following the closing
of our Initial Public Offering on April 3, 2025, a total of $230,000,000 comprised of $226,000,000 of the proceeds from the Initial Public
Offering (which amount includes $10,950,000 of the Deferred Fee) and $4,000,000 of the proceeds from the Private Placement, was placed
in a U.S.-based trust account maintained by Continental, acting as trustee. The proceeds held in the Trust Account may be invested by
the trustee only in U.S. government securities with a maturity of 185 days or less or in money market funds investing solely in U.S. government
treasury obligations and meeting certain conditions under Rule 2a-7 under the Investment Company Act. 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 the Management Team’s ongoing assessment of all factors related to the 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 account at a bank.

The remaining proceeds
from the Initial Public Offering and the Private Placement are held outside the Trust Account. Such funds are being used primarily to
enable us to identify a target and to negotiate and consummate our initial Business Combination.

There has been no material
change in the planned use of the proceeds from our Initial Public Offering and the Private Placement as described in the IPO Registration
Statement. The specific investments in our Trust Account may change from time to time.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disc