Company: SZZL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044190
Chunk: 102

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 3
Chunk 102
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 their provisions waived, without shareholder approval. Such agreements include
the (i) Underwriting Agreement, (ii) the Share Rights Agreement, (iii) the Registration Rights Agreement, (iv) the Private Placement Units
Purchase Agreements, and (v) the Administrative Services Agreement. These agreements contain various provisions that our Public Shareholders
might deem to be material. For example, our Share Rights Agreement and the Underwriting Agreement contain certain lock-up provisions with
respect to the Founder Shares and other securities held by our Initial Shareholders, Sponsor, officers and directors, subject to certain
exceptions. Amendments or waivers to such agreements would require the consent of the applicable parties thereto and, in certain cases,
the consent of the underwriters of the Initial Public Offering. Any such modification, such as an amendment to shorten lock-up restrictions,
may benefit our Initial Shareholders, Sponsor, officers and/or directors. Any such amendments would not require approval from our shareholders,
may result in the completion of our initial Business Combination that may not otherwise have been possible, and may have an adverse effect
on the value of an investment in our securities. For example, although we would not amend lock-up provisions to permit securities held
by Sponsor to be freely sold prior to our initial Business Combination, we may amend such provisions to permit them to be freely sold
after the Business Combination earlier than they would otherwise be permitted, which may have an adverse effect on the price of our securities.

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