Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 36

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 was affected
by payment of operation costs through the IPO Promissory Note of $20,567 and interest income earned on marketable securities held in
the Trust Account of $4,714,504. Changes in operating assets and liabilities used $96,845 of cash for operating activities.

For
the July 8, 2024 (inception) through September 30, 2024, cash used in operating activities was $0, with a net loss of $51,730 that was
affected by payment of operation costs through the IPO Promissory Note of $15,420 and formation costs paid by Sponsor in exchange for
issuance of Class B Ordinary Shares of $10,180. Changes in operating assets and liabilities provided $26,128 of cash for operating activities.

As
of September 30, 2025, we had marketable securities held in the Trust Account of $234,714,504 (including $4,714,504 of interest income).
We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust
Account, including any amounts representing interest earned on the Trust Account (which interest shall be net of taxes payable, if any,
and exclude the Deferred Underwriting Fee), to complete our Business Combination. To the extent that our share capital or debt is used,
in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be
used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth
strategies.

To
mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases
the longer that we hold investments in the Trust Account, we may, at any time, based on our Management Team’s ongoing assessment
of all factors related to our potential status under the Investment Company Act, instruct the trustee to liquidate the investments held
in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand deposit account at a
bank.

As
of September 30, 2025, we had cash held outside of the Trust Account of approximately $935,663. We use the funds held outside the Trust
Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants, or similar locations of prospective target businesses