Company: PAII-WT
Filing Date: 2025-09-02
Form Type: 10-Q
Source: 0001213900-25-083487
Chunk: 30

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-09-02
Form: 10-Q
Item: Item 8
Chunk 30
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 meaning set forth in Section
2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of one hundred
eighty-five (185) days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule
2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations, as determined by the Company,
until the earlier of: (i) the completion of our initial business combination and (ii) the distribution of the Trust Account as otherwise
permitted under our amended and restated memorandum and articles of association.

Pursuant to the Company’s amended and restated memorandum and
articles of association, if it has not completed its initial business combination within 24 months from the closing of the initial public
offering, it will as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available
funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
trust account, including interest earned on the funds held in the Trust Account (which interest shall be net of amounts not previously
released to the Company for permitted withdrawals and up to $100,000 of interest to pay liquidation expenses), divided by the number of
then issued and outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders
(including the right to receive further liquidating distributions, if any), subject to the Company’s obligations under Cayman Islands
law to provide for claims of creditors and the requirements of other applicable law. The sponsor, officers and directors have entered
into a letter agreement with the Company, pursuant to which they have agreed to waive their rights to liquidating distributions from the
trust account with respect to their founder shares if the Company fails to complete its initial business combination within 24 months
from the closing of the initial public offering. However, if the sponsor or management team acquire public shares in or after the initial
public offering, they will be entitled to liquidating distributions from the trust account with respect to such public shares if the Company
fails to complete its initial business combination within the prescribed time period.

Results of Operations

We have neither engaged in any operations nor generated any revenues
to date. Our only activities from May 1, 202