Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 12

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of
the Trust Account, if less than $10.00 per Public Share due to reductions in the value of the Trust Account assets, less taxes payable,
if any, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver
of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims
under the Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of
1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification
obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations
and the Company believes that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot provide any
assurance that the Sponsor would be able to satisfy those obligations.

Liquidity
and Capital Resources

The
Company’s liquidity needs up to September 30, 2025 had been satisfied through the loan under an unsecured promissory note, dated
August 14, 2024, from the Sponsor of up to $500,000 (“the IPO Promissory Note”), as well as the proceeds of the Initial Public
Offering and the Private Placement. As of September 30, 2025, the Company had $935,663 of cash and working capital of $914,341.

In
order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor or an
affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds
as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company will repay such
Working Capital Loans at that time. Up to $1,500,000 of such Working Capital Loans may be converted into units of the post-Business Combination
entity at a price of $10.00 per unit. Such units would be identical to the Private Placement Units. As of September 30, 2025 and December
31, 2024, no such Working Capital Loans were outstanding.

In
connection with the Company’s assessment of going concern considerations in accordance with FASB