Company: PAII-WT
Filing Date: 2025-05-29
Form Type: DRS
Source: 0001213900-25-049013
Chunk: 343

Company: Pyrophyte Acquisition Corp. II
Filing Date: 2025-05-29
Form: DRS
Chunk 343
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 initial business combination or earlier upon redemption or the liquidation of the Company, as described in this prospectus. None of the private placement warrants will be redeemable by the Company. The Company’s business combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the trust account described below (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the trust account) at the time of the signing of an agreement to enter into a business combination. However, the Company will only complete a business combination if the post -businesscombination company owns or acquires 50% or more of the outstanding voting securities of the target or is otherwise not required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able to successfully effect a business combination. Upon the closing of this offering, management has agreed that an aggregate of $10.00 per unit sold in the offering will be held in a trust account and initially be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a -7under the Investment Company Act, which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that it holds investments in the trust account, the Company may, at any time (based on the management team’s ongoing assessment of all factors related to the potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest or non -interestbearing demand deposit account at a U.S. chartered commercial bank with consolidated assets of $100 billion or more selected by the trustee that is reasonably satisfactory to the Company. Except with respect to interest earned on the funds held in the trust account that may be released to us to pay the Company’s taxes, the proceeds from this offering and the sale of

| F-7 |

| Pyrophyte Acquisition Corp. II                      
 Notes to financial statements                       
 NOTE 1—ORGANIZATION AND BUSINESS OPERATIONS (cont.) |

the private placement warrants