Company: SZZL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044190
Chunk: 42

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 42
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 Private Placement Units, the Sponsor purchased 400,000 Private
Placement Units and Cantor purchased 200,000 Private Placement Units.

Transaction costs amounted to $15,554,267, consisting
of $4,000,000 of cash underwriting fee, $10,950,000 of deferred underwriting fee, and $604,267 of other offering costs.

The Company’s Management has broad discretion
with respect to the specific application of the net proceeds of the Initial Public Offering and the Private Placement Units, although
substantially all of the net proceeds are intended to be generally applied toward consummating a Business Combination (less deferred underwriting
commissions).

The Company’s Business Combination must
be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account
(as defined below) (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust Account)
at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business Combination
if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise
acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment
Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination.

Following the closing of the Initial Public Offering,
on April 3, 2025, an amount of $230,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units and the Private Placement
Units, was placed in the trust account (the “Trust Account”), with Continental acting as trustee. The funds are initially
to be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain
conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations; the holding
of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination. To
mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk
increases the longer that the Company holds investments in the Trust Account, the Company may, at any time (based on Management Team’s
ongoing assessment of all