Company: PAII-WT
Filing Date: 2025-06-27
Form Type: S-1
Source: 0001213900-25-059054
Chunk: 100

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-06-27
Form: S-1
Chunk 100
---
 by the number of founder shares issued. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 20,125,000 units if the underwriters’ over -allotmentoption is exercised in full, and therefore such founder shares would represent 26.5% of the outstanding shares after this offering. Up to 946,428 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised. The founder shares will be worthless if we do not complete an initial business combination, except to the extent they receive liquidating distributions from assets outside of the trust account. In addition, Our sponsor has committed to purchase an aggregate of 5,050,000 private placement warrants, each exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $1.00 per warrant, or $5,050,000 in the aggregate, in a private placement that will close simultaneously with the closing of this offering. If we do not complete an initial business combination within the completion window, the private placement warrants will be worthless. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business

| 71 |

| Risk factors |

following the initial business combination. This risk may become more acute as the end of the completion window nears, which is the deadline for our completion of an initial business combination, unless such completion window is extended as described herein. We may issue notes or other debt securities, or otherwise incur substantial debt, to complete a business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us. Although we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering, we may choose to incur substantial debt to complete our initial business combination. The incurrence of debt could have a variety of negative effects, including: ➤default and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations; ➤acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant; ➤