Company: PAII-WT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110840
Chunk: 4

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 4
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 As a result, the Sponsor forfeited 30,231 Class B
Ordinary shares. All share and per share data have been retroactively applied.

The accompanying notes are an integral part
of these unaudited condensed financial statements.

3

PYROPHYTE ACQUISITION CORP. II

UNAUDITED CONDENSED STATEMENT OF CASH FLOWS

For the period from May 1, 2025 (inception)
through September 30, 2025

Cash Flows from Operating Activities 
  
 Net income  $1,335,769  

Adjustments to reconcile net income  to net cash used in operating activities: 
   
 Gain on marketable securities (net), dividends and interest, held in Trust Account   (1,632,757) 
 Formation and operating expenses paid in exchange for Founder Shares   5,000  

Changes in operating assets and liabilities: 
   
 Prepaid and other assets   (360,379) 
 Accrued expenses   25,000  
 Net cash used in operating activities   (627,367) 

Cash Flows from Investing Activities 
   
 Investment of cash into Trust Account   (200,411,500) 
 Net cash used in investing activities   (200,411,500) 

Cash Flows from Financing Activities 
   
 Proceeds from sale of Class A Units   200,411,500  
 Proceeds from sale of Private Placement Warrants net of increase in Due from Sponsor   4,396,555  
 Offering costs paid   (3,047,961) 
 Net cash provided by financing activities   201,760,094  

 Net increase in cash   721,227  
 Cash - beginning of period   -  
 Cash - end of period  $721,227  

Supplemental disclosure of noncash investing and financing activities: 
   
 Private Placement Warrants issued through forgiveness of promissory note - related party  $(300,000) 
 Offering costs paid through the issuance of founders shares  $20,000  
 Offering costs paid through promissory note - related party  $300,000  
 Deferred underwriting fees payable  $9,399,690  

The accompanying notes are an integral part
of these unaudited condensed financial statements.

4

Pyrophyte Acquisition Corp. II

Notes