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

1. PAII-U closed IPO with 17.5 million units at $10 each. 2. Each unit includes a share and a redeemable warrant at $11.50. 3. Company targets mergers in the energy sector for future growth. 4. Gross proceeds of $175 million placed in trust. 5. Underwriters have an option for additional units to cover over-allotments.

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FAQ

Why Bullish?

The successful IPO and significant cash in trust position PAII-U favorably for future deals. Historical examples show strong IPOs lead to stock appreciation as companies pursue growth opportunities.

How important is it?

The established cash reserves and clear business strategy are essential for investor confidence. Initial public perception of the company could influence future mergers and collaborations in the energy sector.

Why Long Term?

The focus on the energy sector and potential acquisitions may drive growth over time. Companies with strong cash reserves frequently outperform in the long term, evidenced by previous SPAC successes.

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UBSPACSPAC
July 18, 2025 16:44 ET  | Source: Pyrophyte Acquisition Corp. II HOUSTON, TX, July 18, 2025 (GLOBE NEWSWIRE) -- Pyrophyte Acquisition Corp. II (NYSE: PAII) (the “Company”) today announced the closing of its initial public offering of 17,500,000 units at a public offering price of $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. The units are listed on the New York Stock Exchange (the “NYSE”) and commenced trading under the ticker symbol “PAII.U” on July 17, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be listed on NYSE under the symbols “PAII” and “PAII WS,” respectively. Concurrently with the closing of the initial public offering, the Company closed on a private placement of 5,050,000 warrants to Pyrophyte Acquisition II LLC, the Company’s sponsor, at a price of $1.00 per warrant, resulting in gross proceeds of $5,050,000. Each private placement warrant is exercisable to purchase one Class A ordinary share at $11.50 per share. Of the proceeds received from the consummation of the initial public offering and the simultaneous private placement of warrants, $175,000,000 (or $10.00 per unit sold in the public offering) was placed in trust. Pyrophyte Acquisition Corp. II is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any industry, sector or geographic region, it expects to target opportunities and companies in the energy sector. UBS Investment Bank acted as the lead book-running manager of the offering and Brookline Capital Markets, a division of Arcadia Securities, LLC acted as the co-manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,625,000 units at the initial public offering price to cover over-allotments, if any. A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on July 16, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019, Attention: Prospectus Department, or by email at: prospectusrequest@ubs.com. Cautionary Note Concerning Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination and the anticipated use of the net proceeds of the initial public offering and simultaneous private placement. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering, available on the SEC’s website, www.sec.gov, and the Company’s preliminary prospectus. The Company undertakes no obligation to update these statements for revisions or changes after the issuance of this release, except as required by law. Contact Sten GustafsonPresident and Chief Financial Officer Pyrophyte Acquisition Corp. IIsten.gustafson@pyrophytespac.com

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