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Pyrophyte Acquisition Corp. II (PAII.U) completed the sale of an additional 2,541,150 units through its over-allotment option, generating $25.4 million in additional gross proceeds at $10.00 per unit. Combined with its initial public offering, the company raised total gross proceeds of $200.4 million.
Each unit contains one Class A ordinary share and one-half of one redeemable warrant. The warrants can be exercised to purchase Class A ordinary shares at $11.50 per share. The units began trading on the New York Stock Exchange under ticker symbol "PAII.U" on July 17, 2025.
The company simultaneously closed a private placement of 5,050,000 warrants to its sponsor, Pyrophyte Acquisition II LLC, at $1.00 per warrant, raising an additional $5.1 million. These private placement warrants are also exercisable at $11.50 per share.
The company placed $200.4 million from the combined offerings in trust, representing $10.00 per unit sold in the public offering. Once the securities begin separate trading, Class A ordinary shares and warrants will trade under symbols "PAII" and "PAII WS" respectively.
Pyrophyte Acquisition Corp. II is a blank check company formed to pursue mergers or business combinations. The company expects to target opportunities in the energy sector, though it may pursue combinations in any industry or geographic region.
UBS Investment Bank served as lead book-running manager, while Brookline Capital Markets acted as co-manager for the offering. The Securities and Exchange Commission declared the registration statement effective on July 16, 2025.