Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 19

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 does not occur, any previously recognized compensation cost is reversed in the period related to the
termination of service.

Class
A Ordinary Shares Subject to Possible Redemption

The
Public Shares contain a redemption feature that allows for the redemption of such Public Shares in connection with the Company’s
liquidation, or if there is a shareholder vote or tender offer in connection with the initial Business Combination. In accordance with
FASB ASC Topic 480-10-S99, “Distinguishing Liabilities from Equity”, the Company classifies Class A Ordinary Shares subject
to possible redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The
Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable Public Shares
to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company
recognized the accretion from initial book value to redemption value. The change in the carrying value of redeemable Public Shares will
result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of September
30, 2025, Class A Ordinary Shares subject to possible redemption are presented at redemption value as temporary equity, outside of the
shareholders’ deficit section of the accompanying condensed balance sheets. As of September 30, 2025, the Class A Ordinary Shares
subject to possible redemption reflected in the accompanying condensed balance sheets are reconciled in the following table:

    Gross proceeds 
    $230,000,000 
  
    Less: 

    Proceeds allocated to Public Rights 
     (3,404,000)
  
    Class A Ordinary Shares issuance costs 
     (15,308,928)
  
    Plus: 

    Remeasurement of carrying value to redemption value 
     18,712,928 
  
    Class A Ordinary Shares subject to possible redemption, April 3, 2025 
     230,000,000 
  
    Plus: 

    Remeasurement of carrying value to redemption value 
     2,280,342 
  
    Class A Ordinary Shares subject to possible redemption, June 30, 2025 
     232,280,342 
  
    Plus: 

    Remeasurement of carrying value to redemption value 
     2,434,162 
  
    Class A Ordinary Shares subject to possible redemption, September 30, 2025 
    $234,