Company: PAII-WT
Filing Date: 2025-06-27
Form Type: S-1
Source: 0001213900-25-059054
Chunk: 357

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-06-27
Form: S-1
Chunk 357
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 not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per -shareprice, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of amounts not previously released to the Company for permitted withdrawals and up to $100,000 of interest to pay liquidation expenses), divided by the number of then issued and outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. The sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if the Company fail to complete its initial business combination within the completion window. However, if the sponsor or management team acquire public shares in or after this offering, they will be entitled to liquidating distributions from the trust account with respect to such public shares if the Company fails to complete its initial business combination within the prescribed time period. NOTE 2—SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. Liquidity and capital resources The Company does not have sufficient liquidity to meet its anticipated obligations over the next year from the date of issuance of these financial statements. In connection with the Company’s assessment of going concern considerations in accordance with FASB ASC 205 -40, “Presentation of Financial Statements -GoingConcern,” management has determined that the Company has access to funds from the sponsor, and the sponsor has the financial ability to provide such funds, that are sufficient to fund the working capital needs of the Company until the earlier of the consummation of this offering or in excess of one year from the date of issuance of these financial statements.

| F-9 |

| Pyrophyte Acquisition Corp. II                 
 Notes to financial statements                  
 NOTE 2—SIGNIFICANT ACCOUNTING POLICIES (cont.) |

Emerging growth company status The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act