Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 75

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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,
share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the
case that additional Class A Ordinary Shares, or any other equity-linked securities, are issued or deemed issued in excess of the
amounts sold in the Initial Public Offering and related to or in connection with the closing of the initial Business Combination, the
ratio at which Class B Ordinary Shares convert into Class A Ordinary Shares will be adjusted (unless the holders of a majority
of the outstanding Class B Ordinary Shares agree to waive such adjustment with respect to any such issuance or deemed issuance)
so that the number of Class A Ordinary Shares issuable upon conversion of all Class B Ordinary Shares will equal, in the aggregate,
25% of the sum of (i) the total number of all Ordinary Shares issued and outstanding upon the completion of the Initial Public Offering
(including any Class A Ordinary Shares issued pursuant to the Over-Allotment Option and excluding the Private Placement Shares and the
Class A Ordinary Shares underlying the Private Placement Rights), plus (ii) all Ordinary Shares and equity-linked securities issued
or deemed issued, in connection with the closing of the initial Business Combination (excluding any shares or equity-linked securities
issued, or to be issued, to any seller in the initial Business Combination and any private placement-equivalent units issued to the Sponsor
or any of its affiliates or to the Company’s officers or directors upon conversion of any Working Capital Loans made to the Company)
and (iii) minus any redemptions of Public Shares by Public Shareholders in connection with an initial Business Combination; provided
that such conversion of Founder Shares will never occur on a less than one-for-one basis.

15

SIZZLE
ACQUISITION CORP. II

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

Holders
of the Ordinary Shares are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in
the Amended and Restated Articles or as required by the Companies Act (As Revised) of the Cayman Islands or stock exchange rules, an
ordinary resolution under Cayman Islands law and the Amended and Restated Articles, which requires the affirmative vote of at least a
simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by