Company: PAII-WT
Filing Date: 2025-05-29
Form Type: DRS
Source: 0001213900-25-049013
Chunk: 350

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-05-29
Form: DRS
Chunk 350
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 features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re -valuedat each reporting date, with

| F-11 |

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

changes in the fair value reported in the statement of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non -currentbased on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. The underwriters’ over -allotmentoption is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and will be accounted for as a liability pursuant to ASC 480 if not fully exercised at the time of this offering. Warrant instruments The Company will account for the public and private placement warrants to be issued in connection with this offering and the private placement in accordance with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. There are no public or private warrants currently outstanding as of May 5, 2025. Recent accounting pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements. NOTE 3—THE OFFERING In this offering, the Company will offer for sale 17,500,000 units (or up to 20,125,000 units if the underwriters’ over -allotmentoption is exercised in full) at an offering price of $10.00. Each unit consists of one Class A ordinary share and one -halfof one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described in this prospectus, and only whole warrants are exercisable. The warrants will become exercisable 30 days after the completion of the Company’s initial business combination and will expire five years after the completion of the Company’s initial business combination, or earlier upon redemption or liquidation, as described in this prospectus. Warrants—