Company: PAII-WT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110840
Chunk: 41

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 41
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 Offering of 20,041,150 Units, including 2,541,150 Units issued pursuant to the exercise of the Underwriters’ partial
exercise of their over-allotment option, generating gross proceeds of $200,411,500.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 5,050,000 Private Placement Warrants at a price of $1.00 per warrant generating gross
proceeds of $5,050,000. Of the 5,050,000 Private Placement Warrants, the Underwriters purchased an aggregate of 1,500,000 Private Placement
Warrants and the Sponsor purchased 3,500,000 Private Placement Warrants. Each whole Private Placement Warrant is exercisable to purchase
one Class A ordinary share at a price of $11.50 per share. The issuance was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act.

The Private Placement Warrants are identical to
the warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants (i) are not redeemable
by us, (ii) are not transferable, assignable or salable until after the completion of a Business Combination, subject to certain limited
exceptions, (iii) may be exercised on a cashless basis, (iv) are entitled to registration rights and (v) with respect to Private Placement
Warrants held by the Underwriters, will not be exercisable more than five years from the commencement of sales in accordance with FINRA
Rule 5110(g)(8).

Following
the closing of the Initial Public Offering on July 24, 2025, an amount of $200,411,500 ($10.00
per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants
was placed in the Trust Account.

We paid a total of $12,767,651in underwriting
discounts and commissions and incurred approximately $742,961 for other costs and expenses related to the Initial Public Offering. In
addition, the Underwriters agreed to defer $9,399,690 in underwriting discounts and commissions.

For a description of the use of the proceeds generated
in our Initial Public Offering, see Part I, Item 2 of this Quarterly Report.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety