Company: PAII-WT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110840
Chunk: 73

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 73
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 forward-looking
statements by terminology such as “may,” “should,” “could,” “would,” “expect,”
“plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of
such terms or other similar expressions. Such statements include, but are not limited to, possible business combinations and the financing
thereof, and related matters, as well as all other statements other than statements of historical fact included in this Form 10-Q. Factors
that might cause or contribute to such a discrepancy include, but are not limited to, those described in our other Securities and Exchange
Commission (“SEC”) filings.

Overview

We are a blank check company incorporated on May 1, 2025 as a
Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination.
We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions,
directly or indirectly, with any business combination target. We may pursue an initial business combination in any business or industry
and in any geographic region but expect to target companies that are in the energy sector that constitute critical links in the supply
chain for, and/or service, the growing segments from the full spectrum of the energy ecosystem. Specifically, we seek to focus on differentiated
targets that provide critical minerals and materials, equipment, and/or technologies that support the span of energy solutions from traditional
to renewable energy.

We intend to effectuate our initial business combination using cash
from the proceeds of the initial public offering and the private placement of the private placement warrants, the proceeds of the sale
of our shares in connection with our initial business combination (pursuant to forward purchase agreements or backstop agreements we may
enter into following the consummation of the initial public offering or otherwise), shares issued to the owners of the target, debt issued
to bank or other lenders or the owners of the target, other securities issuances, or a combination of the foregoing or other sources.

The issuance of additional shares in connection with a business combination
to the owners of the target or other investors:

➤may significantly dilute the equity interest of investors
in the initial public offering, which dilution would increase if the anti-dilution provisions in the Class B ordinary shares
resulted