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Pyrophyte Acquisition Corp. II (NYSE:PAII) completed its initial public offering and partial exercise of the over-allotment option, raising a total of $200,411,500, according to a press release statement based on a filing with the U.S. Securities and Exchange Commission.
On July 18, the company closed its IPO of 17,500,000 units at $10.00 per unit, generating gross proceeds of $175 million. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at $11.50 per share.
Simultaneously with the IPO, Pyrophyte Acquisition Corp. II completed a private placement of 5,050,000 warrants to its sponsor, Pyrophyte Acquisition II LLC, at a purchase price of $1.00 per warrant. This private placement raised an additional $5,050,000.
On July 24, the company announced the closing of the sale of an additional 2,541,150 units at $10.00 per unit, following the underwriters’ partial exercise of the over-allotment option. This sale generated $25,411,500 in gross proceeds, which was also deposited into the company’s trust account.
Following these transactions, a total of $200,411,500, including $7,875,000 of the underwriters’ deferred commission, has been placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company.
In connection with the over-allotment closing, the sponsor forfeited 30,231 Class B ordinary shares, resulting in the sponsor holding 7,135,721 founder shares.
An audited balance sheet as of July 18, 2025, reflecting the receipt of the IPO and private placement proceeds, was issued by the company and included as an exhibit to the SEC filing.
Pyrophyte Acquisition Corp. II is listed on the New York Stock Exchange under the symbols NYSE:PAII.U for its units, NYSE:PAII for its Class A ordinary shares, and NYSE:PAII WS for its warrants.
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