Company: PAII-WT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110840
Chunk: 37

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 37
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of $1,437,769 which consisted of interest on cash held in Trust Account of $1,632,757, interest income of $116, offset by general and
administrative expenses of $195,104.

For the period from May 1, 2025 (inception) through September 30, 2025,
we reported net income of $1,335,769 which consisted of interest on cash held in Trust Account of $1,632,757, interest income of $116,
offset by general and administrative expenses of $297,104.

Liquidity and Capital Resources

As of September 30, 2025, the Company had a cash balance of $721,227.
The consummation of the initial public offering, the Company’s liquidity needs are satisfied through using net proceeds from the
initial public offering and sale of Private Placement Warrants for existing accounts payable, identifying and evaluating prospective acquisition
candidates, performing business due diligence on prospective target businesses, traveling to and from the offices, plants or similar locations
of prospective target businesses, reviewing corporate documents and material agreements of prospective target businesses, selecting the
target business to acquire and structuring, negotiating and consummating the initial business combination.

22

If the Company’s estimates of the costs of identifying a target
business, undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount necessary
to do so, the Company may have insufficient funds available to operate its business prior to an initial business combination. Moreover,
the Company may need to obtain additional financing either to complete an initial business combination or because it becomes obligated
to redeem a significant number of its public shares upon completion of an initial business combination, in which case the Company may
issue additional securities or incur debt in connection with such initial business combination.

Contractual Obligations

Registration Rights

The holders of the (i) founder shares, which were issued in the Private
Placement prior to the closing of the initial public offering, (ii) Private Placement Warrants and the Class A ordinary shares underlying
such Private Placement Warrants and (iii) Private Placement Warrants that may be issued upon conversion of working capital loans will
have registration rights to require the Company to register a sale of any of the Company’s securities held by them and any other
securities of the Company acquired by them prior to the consummation of the Company’s initial business combination pursuant to a
registration rights agreement signed on the effective date of the initial public offering. The