Company: SZZL
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110104
Chunk: 37

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

21

Our
liquidity needs through September 30, 2025 have been satisfied through (i) a contribution of $25,000 from the Sponsor in exchange for
the issuance of our Founder Shares, (ii) a loan pursuant to the IPO Promissory Note, and (iii) the net proceeds from the consummation
of the Initial Public Offering and the Private Placement held outside the Trust Account.

IPO
Promissory Note

Prior
to the closing of our Initial Public Offering, our Sponsor agreed to loan us an aggregate of up to $500,000 under the IPO Promissory
Note. Such loans and advances were non-interest bearing and payable on the earlier of August 14, 2024 or the completion of our Initial
Public Offering. The loan of $306,752 was fully repaid upon the consummation of our Initial Public Offering on April 4, 2025.There were
no amounts outstanding under the IPO Promissory Note as of September 30, 2025, and no additional borrowing is available under the IPO
Promissory Note.

Working
Capital Loans

In
order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain
of our officers and directors or their affiliates may, but are not obligated to, loan us Working Capital Loans, as may be required. If
we complete a Business Combination, we will repay such Working Capital Loans. In the event that a Business Combination does not close,
we may use a portion of the working capital held outside the Trust Account to repay such Working Capital Loans, but no proceeds from
our Trust Account would be used for such repayment. Up to $1,500,000 of such Working Capital Loans may be converted into units of the
post-Business Combination entity at a price of $10.00 per unit. The units would be identical to the Private Placement Units. Other than
as set forth above, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect
to such Working Capital Loans. As of September 30, 2025 and December 31, 2024, we did not have any borrowings under any Working Capital
Loans.

We
do not believe we will need to raise additional funds to meet the expenditures required for operating our