Company: PAII-WT
Filing Date: 2025-05-29
Form Type: DRS
Source: 0001213900-25-049013
Chunk: 358

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-05-29
Form: DRS
Chunk 358
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.003 per share. The founder shares include an aggregate of up to 946,428shares subject to forfeiture if the over -allotmentoption is not exercised by the underwriters in full. At May 5, 2025, there were 7,255,952 Class B ordinary shares issued and outstanding.

| F-16 |

| Pyrophyte Acquisition Corp. II      
 Notes to financial statements       
 NOTE 7—SHAREHOLDER’S EQUITY (cont.) |

The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Company’s initial business combination (with such conversion taking place immediately prior to, simultaneously with, or immediately following the time of the initial business combination, as may be determined by the Company’s directors) or earlier at the option of the holder on a one -for -onebasis (subject to adjustment for share subdivisions, share dividends, reorganizations, recapitalizations and the like), and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares, or equity -linkedsecurities, are issued or deemed issued in excess of the amounts sold in this offering and related to the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issued and issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 26.5% of the sum of (i) the total number of all ordinary shares outstanding upon the completion of this offering (including any Class A ordinary shares issued pursuant to the underwriters’ over -allotmentoption but excluding the Class A ordinary shares underlying the private placement warrants issued to the sponsor), plus (ii) all Class A ordinary shares and equity -linkedsecurities issued or deemed issued in connection with the Company’s initial business combination (excluding any shares or equity -linkedsecurities issued, or to be issued, to any seller in the initial business combination and any private placement -equivalentwarrants issued to the Company’s sponsor or any of its affiliates or to the Company’s officers and directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders prior to or in connection with an initial business combination. If the Company enters into an initial business combination, it may (depending on the terms