Company: PAII-WT
Filing Date: 2025-05-29
Form Type: DRS
Source: 0001213900-25-049013
Chunk: 329

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-05-29
Form: DRS
Chunk 329
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 placement shares and (4) issue securities in connection with a business combination, including any forward purchase shares. UBS in its sole discretion may release any of the securities subject to these lock -upagreements from any of the terms to which they are subject, at any time without notice, other than in the case of securities held by the officers and directors, which shall be with notice. Our initial shareholders have agreed not to transfer, assign or sell any of their founder shares or any Class A ordinary shares issuable upon conversion thereof until the earlier to occur of (i) one year after the completion of our initial business combination and (ii) the date following the completion of our initial business combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property (except to certain permitted transferees and under

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certain circumstances as described herein under “ Principal Shareholders—Restrictions on Transfers of Founder Shares and Private Placement Warrants”). Notwithstanding the foregoing, if the last sale price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub -divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -tradingday period commencing at least 150 days after the completion of our initial business combination, the founder shares will be released from this lock -up. The private placement warrants (including any Class A ordinary shares issuable upon exercise of the private placement warrants) will not be transferable, assignable or salable until 30 days following the completion of our initial business combination ( except to certain permitted transferees and under certain circumstances as described herein under “ Principal Shareholders—Restrictions on Transfers of Founder Shares and Private Placement Warrants”). Prior to this offering, there has been no public market for our securities. Consequently, the initial public offering price for the units was determined by negotiations between us and the representative. The determination of our per unit offering price was more arbitrary than would typically be the case if we were an operating company. Among the factors considered in determining the initial public offering price were the history and prospects of companies whose principal business is the acquisition of other companies, prior offerings of those companies, our management, our capital structure and currently prevailing general conditions in equity securities markets, including current market valuations of publicly traded companies