Pyrophyte Acquisition Corp. II Announces Closing of $175 Million Initial Public Offering

Core Viewpoint - Pyrophyte Acquisition Corp. II has successfully closed its initial public offering (IPO) of 17,500,000 units at a price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of a redeemable warrant [1][2]. Group 1: IPO Details - The units began trading on the New York Stock Exchange under the ticker symbol "PAII.U" on July 17, 2025, with plans for separate trading of Class A ordinary shares and warrants under the symbols "PAII" and "PAII WS" respectively [2]. - The IPO generated gross proceeds of $175,000,000, which has been placed in trust, equating to $10.00 per unit sold [3]. - The underwriters have been granted a 45-day option to purchase up to an additional 2,625,000 units at the initial public offering price to cover over-allotments [5]. Group 2: Private Placement - Concurrently with the IPO, the company closed a private placement of 5,050,000 warrants to its sponsor at a price of $1.00 per warrant, resulting in gross proceeds of $5,050,000 [3]. Group 3: Company Purpose - Pyrophyte Acquisition Corp. II is a blank check company formed to pursue a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination, primarily targeting opportunities in the energy sector [4].