Company: SZZL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044190
Chunk: 14

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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, the Company sold 23,000,000 Units, which includes the full exercise by the underwriters of their Over-Allotment Option amounting
to 3,000,000 Option Units, at a purchase price of $10.00 per Unit. Each Unit consists of one Public Share and one Public Right.

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the closing of the Initial
Public Offering, the Sponsor and Cantor purchased an aggregate of 600,000 Private Placement Units at a price of $10.00 per Private Placement
Unit in a Private Placement. Each Private Placement Unit consists of one Private Placement Share and one Private Placement Right. Of those
600,000 Private Placement Units, the Sponsor purchased 400,000 Private Placement Units and Cantor purchased 200,000 Private Placement
Units. The Private Placement Units are identical to the Units sold in Initial Public Offering, subject to certain limited exceptions. 

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On July 16, 2024, the Sponsor made a capital contribution
of $25,000, or approximately $0.003 per share, for which the Company issued 7,666,667 Founder Shares to the Sponsor. Up to 1,000,000 of
the Founder Shares were to be surrendered by the Sponsor for no consideration depending on the extent to which the underwriters’
Over-Allotment Option is exercised. On April 3, 2025, the underwriters exercised their Over-Allotment Option in full as part of the closing
of the Initial Public Offering. As such, the 1,000,000 Founder Shares are no longer subject to forfeiture.

On March 27, 2025, the Sponsor granted membership interests equivalent
to an aggregate of 140,000 Founder Shares to the three independent directors of the Company in exchange for their services as independent
directors through the Company’s initial Business Combination. The Founder Shares, represented by such membership interests, will
remain with the Sponsor if the holder of such membership interests is no longer serving the Company prior to the initial Business Combination.
The membership interest assignment of the Founder Shares to the holders of such interests are in the scope of FASB ASC Topic 718, “Compensation-Stock
Compensation” (“ASC 718”). Under ASC 718, stock-based compensation associated with equity-classified awards is measured
at fair value upon the assignment date. The total fair value of the 140