Company: PAII-WT
Filing Date: 2025-05-29
Form Type: DRS
Source: 0001213900-25-049013
Chunk: 331

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-05-29
Form: DRS
Chunk 331
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 commissions, including any accrued interest thereon, then in the trust account; and (ii) that such deferred underwriters’ discounts and commissions will be distributed on a pro rata basis, together with any accrued interest thereon (which interest shall be net of amounts not previously released to us for permitted withdrawals) to the public shareholders.

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| Underwriting |

In connection with the offering, the underwriters may purchase and sell units in the open market. Purchases and sales in the open market may include short sales, purchases to cover short positions, which may include purchases pursuant to the over -allotmentoption, and stabilizing purchases. ➤Short sales involve sales by the underwriters of a greater number of units than they are required to purchase in the offering. ➤“Covered” short sales are sales of units in an amount up to the number of units represented by the underwriters’ over -allotmentoption. ➤“Naked” short sales are sales of units in an amount in excess of the number of units represented by the underwriters’ over -allotmentoption. ➤Covering transactions involve purchases of units either pursuant to the over -allotmentoption or in the open market after the distribution has been completed, in order to cover short positions. ➤To close a naked short position, the underwriters must purchase units in the open market after the distribution has been completed. A naked short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of the units in the open market after pricing that could adversely affect investors who purchased in the offering. ➤To close a covered short position, the underwriters must purchase units in the open market after the distribution has been completed or must exercise the over -allotmentoption. In determining the source of units to close a covered short position, the underwriters will consider, among other things, the price of units available for purchase in the open market as compared to the price at which they may purchase units through the over -allotmentoption. ➤Stabilizing transactions involve bids to purchase units, so long as the stabilizing bids do not exceed a specified maximum. Transactions to cover short positions and stabilizing transactions, as well as other transactions by the underwriters for their own accounts, may have the effect of preventing or retarding a decline in the market price of the units. They may also cause the price of the units to be higher than the price that would