Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 17

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 to any other taxable jurisdiction and is presently not
subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax
provision was zero for the periods presented. 

Derivative
Financial Instruments

The
Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded
derivatives in accordance with FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). For derivative
financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the
grant date and is then re-valued at each reporting date, with changes in the fair value reported in the accompanying unaudited condensed
statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities
or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the accompanying condensed balance
sheets as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within
12 months of the date of the accompanying condensed balance sheets.

Rights

The
Company accounted for the Rights issued in connection with the Initial Public Offering and the Private Placement in accordance with the
guidance contained in ASC 815. Accordingly, the Company evaluated and classified the Rights under equity treatment at their assigned
values.

Net
Income (Loss) per Ordinary Share

The
Company has two classes of Ordinary Shares: Class A Ordinary Shares and the Company’s Class B ordinary shares, par value $0.0001
per share (the “Class B Ordinary Shares”, and together with the Class A Ordinary Shares, the “Ordinary Shares”).
Net income (loss) per Ordinary Share is computed by dividing net income (loss) by the weighted average number of Ordinary Shares outstanding
during the period, excluding Ordinary Shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate
of 1,000,000 Class B Ordinary Shares that are subject to forfeiture if the Over-Allotment Option was not exercised by the Underwriters
(see Note 5). As of September 30, 2025 and December 31, 2024, the Company has dilutive securities and other contracts that could, potentially,
be exercised or converted into Ordinary Shares and then share in the earnings of the Company.

    For the Three Months Ended September 30, 2025