Company: SZZL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044190
Chunk: 54

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 December 31,
2024, the Company had $261,705 and $121,550, respectively, outstanding borrowings under the Note. On April 4, 2025, subsequent to the
closing of the Initial Public Offering, the Company repaid the total outstanding balance of the Note (see Note 9). Borrowings against
this note are no longer permitted.

Administrative Services Agreement

The Company entered into an agreement with VO
Sponsor II Management, LLC, the managing member of the Sponsor, commencing on April 1, 2025 through the earlier of the Company’s
consummation of initial Business Combination and its liquidation, to pay an aggregate of $15,000 per month for office space, utilities,
and secretarial and administrative support services.

Working Capital Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may,
but are not obligated to, provide the Company with the Working Capital Loans. If the Company completes a Business Combination, the Company
would repay the Working Capital Loans. In the event that a Business Combination does not close, the Company may use a portion of the working
capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay
the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible into units of the post-Business Combination
entity at a price of $10.00 per unit at the option of the lender. The units would be identical to the Private Placement Units. As of March
31, 2025 and December 31, 2024, no such Working Capital Loans were outstanding.

NOTE 6. COMMITMENTS AND CONTINGENCIES  

Risks and Uncertainties

The Company’s results of operations and
its ability to complete an initial Business Combination may be adversely affected by various factors that could cause economic uncertainty
and volatility in the financial markets, many of which are beyond the Company’s control. The Company’s results of operations
and its ability to consummate an initial Business Combination could be impacted by, among other things, downturns in the financial markets
or in economic conditions, increases in oil prices, inflation, fluctuations in interest rates, increases in tariffs, supply chain disruptions,
declines in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts
in Ukraine and the Middle East