Company: SZZL
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075798
Chunk: 70

Company: Sizzle Acquisition Corp. II
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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 Rights issued in the Initial Public Offering:

    April 3, 2025 
  
    Underlying share price 
    $9.84 
  
    Pre-adjusted value per Public Right 
    $0.98 
  
    Market adjustment(1) 
     15.0%
  
    Fair value per Public Right 
    $0.148 

(1)Market
adjustment reflects additional factors not fully captured by low volatility selection, which may include likelihood of Business Combination
occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of stock price prior to beginning
of the exercise period. The adjustment is determined by comparing traded Public Right prices to simulated model outputs. The market adjustment
was determined by calibrating traded Public Rights prices as of the valuation dates.

The fair value of the Public Rights was not remeasured
subsequent to the Initial Public Offering.

Note 9. Segment Information

FASB ASC 280 establishes standards for companies
to report in their financial statements information about operating segments, products, services, geographic areas, and major customers.
“Operating segments” are defined as components of an enterprise for which separate financial information is available that
is regularly evaluated by the CODM, or group, in deciding how to allocate resources and assess performance.

The Company’s CODM has been identified as
the Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources
and assessing financial performance. Accordingly, Management has determined that the Company only has one operating segment.

The CODM assesses performance for the single segment
and decides how to allocate resources based on net income or loss that also is reported on the accompanying unaudited condensed statements
of operations as net income or loss. When evaluating the Company’s performance and making key decisions regarding resource allocation
the CODM reviews several key metrics, which include the following:

    Three Months Ended June 30, 2025  
    Six Months Ended June 30, 2025 
  
    Formation and operating costs 
    $206,936  
    $249,063 
  
    Income earned on marketable securities held in Trust Account 
    $2,280,342  
    $2,280,342 

Formation and operating costs are reviewed and
monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete the Initial Public Offering and eventually
a Business Combination within the Combination Period.