# EDGAR Filing Document

**Accession Number:** 0001848756
**File Stem:** 0001213900-26-048690
**Filing Date:** 2026-4
**Character Count:** 49709
**Document Hash:** 615dda79574303d4ac267495d63ef985
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-048690.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001213900-26-048690

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260428

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pyrophyte Acquisition Corp.
- **CENTRAL INDEX KEY:** 0001848756
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40957
- **FILM NUMBER:** 26909481

**BUSINESS ADDRESS:**
- **STREET 1:** 3262 WESTHEIMER RD.
- **STREET 2:** SUITE 706
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77098
- **BUSINESS PHONE:** 281 701 4234

**MAIL ADDRESS:**
- **STREET 1:** 3262 WESTHEIMER RD.
- **STREET 2:** SUITE 706
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77098

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **April 28, 2026**

**PYROPHYTE ACQUISITION CORP.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-40957** | **N/A** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS. Employer<br> Identification No.) |

---

**3262 Westheimer Road**

**Suite 706**

**Houston, Texas 77098**

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: **(281) 701-4234**

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

As disclosed in the definitive proxy statement (the "Definitive Proxy Statement") filed by Pyrophyte Acquisition Corp., a Cayman Islands exempted company (the "Company"), with the U.S. Securities and Exchange Commission on April 8, 2026, as well as other documents filed by the Company relating to the Extraordinary General Meeting (as defined below), Pyrophyte Acquisition LLC, a Delaware limited liability company (the "Sponsor"), agreed that if the Extension Amendment (as defined below) was approved at the Extraordinary General Meeting and adopted, then it or its designee would deposit a specified amount of cash per month into the Company's trust account (the "Trust Account") as a loan.

In connection with the approval of the Extension Amendment at the Extraordinary General Meeting, on April 28, 2026, the Company issued a promissory note to the Sponsor with a principal amount up to $1,200,000 (the "Fourth Extension Note"). The Fourth Extension Note bears no interest and is repayable in full upon the earlier of (i) the date of the consummation of the Company's initial business combination and (ii) the date of the Company's liquidation. If the Company does not consummate an initial business combination by the Extended Date (as defined below), the Fourth Extension Note will be repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven.

In addition, on April 28, 2026, the Company amended and restated its previously issued unsecured amended and restated convertible promissory note (as so amended and restated, the "Working Capital Convertible Promissory Note") with the Sponsor to extend the Maturity Date (as defined below) thereunder from the earlier of (i) April 29, 2026 and (ii) the effective date of an initial business combination to the earlier of (i) the Extended Date and (ii) the effective date of an initial business combination (such earlier date, the "Maturity Date"). The Company may borrow under the Working Capital Convertible Promissory Note for ongoing expenses reasonably related to the business of the Company and the consummation of an initial business combination. The Sponsor will have the option, at any time on or prior to the Maturity Date, to convert up to $1,500,000 outstanding under the Working Capital Convertible Promissory Note into warrants to purchase Class A ordinary shares of the Company, par value $0.0001 per share ("Class A Ordinary Shares"), at a conversion price of $1.00 per warrant, with each warrant entitling the holder to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to the same adjustments applicable to the private placement warrants sold concurrently with the Company's initial public offering.

The foregoing descriptions of the Fourth Extension Note and the Working Capital Convertible Promissory Note do not purport to be complete and are qualified in their entirety by the provisions of the Fourth Extension Note and the Working Capital Convertible Promissory Note, which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated by reference herein.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-balance Sheet Arrangement of a Registrant.**

The disclosure contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this item to the extent required.

**Item 3.03. Material Modification to Rights of Security Holders.**

The information disclosed in Item 5.07 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03 to the extent required.

**Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

The information included in Item 5.07 is incorporated by reference in this item to the extent required.

A copy of the amendment to the Articles (as defined below) is attached to this Current Report on Form 8-K as Exhibit 3.1 and incorporated herein by reference.

**Item 5.07. Submission of Matters to a Vote of Security Holders.**

On April 28, 2026, the Company held an extraordinary general meeting of shareholders (the "Extraordinary General Meeting") at which its shareholders approved a proposal to amend the Company's Amended and Restated Memorandum and Articles of Association (the "Articles") to extend the date by which the Company must consummate an initial business combination from April 29, 2026 to April 29, 2027 (the "Extended Date"), or an earlier date than the Extended Date as determined by the Company's board of directors (the "Extension Amendment").

The following is a tabulation of the votes with respect to the Extension Amendment, which was approved by the Company's shareholders:

---

| | | |
|:---|:---|:---|
| **For** | **Against** | **Abstain** |
| 6366583 | 0 | 0 |

---

In addition, on April 28, 2026, the Company filed with the Cayman Islands Registrar of Companies a notice of the special resolutions amending the Articles. Under Cayman Islands law, the amendment to the Articles took effect upon approval of the Extension Amendment.

**Item 8.01. Other Events.**

The Sponsor determined to increase the monthly amount that it or its designee would deposit into the Trust Account as a loan in connection with the Extension Amendment from (a) an amount equal to the greater of (i) $0.05 per Class A Ordinary Share held by public shareholders ("public shares") multiplied by the number of public shares then outstanding, and (ii) $75,000, to (b) $100,000 for each calendar month beginning on April 30, 2026, and ending on the earlier of (x) the Company's liquidation and (y) the Extended Date (the "Fourth Extension Contribution Amount Increase").

In connection with the Fourth Extension Contribution Amount Increase, the Company decided to extend the time in which the holders of its public shares may reverse any redemption requests until Friday May 1, 2026 at 5:00 p.m. Eastern Time. Shareholders who have already submitted a redemption request with respect to the shares held by them may reverse such request by contacting the Company's transfer agent, at Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, New York 10004, Attn: SPAC Redemptions (e-mail: spacredemptions@continentalstock.com). Holders who wish to keep their redemption request do not need to take any action.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibits** |
| 3.1 | [Amendment to the Company's Amended and Restated Memorandum and Articles of Association.](ea028811601-8kex3i_pyro.htm) |
| 10.1 | [Promissory Note, dated as of April 28, 2026, issued to Pyrophyte Acquisition LLC.](ea028811601-8kex10i_pyro.htm) |
| 10.2 | [Fourth Amended and Restated Convertible Promissory Note, dated as of April 28, 2026, issued to Pyrophyte Acquisition LLC.](ea028811601-8kex10ii_pyro.htm) |
| 104 | Cover Page Interactive Data File-Embedded within the inline XBRL document. |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **PYROPHYTE ACQUISITION CORP.** | **PYROPHYTE ACQUISITION CORP.** |
| By: | /s/ Sten Gustafson |
| Name: | Sten Gustafson |
| Title: | Chief Financial Officer |

---

Date: April 28, 2026

## Exhibit 3.1

**Exhibit 3.1**

Registrar of Companies

Government Administration Building

133 Elgin Avenue

George Town

Grand Cayman

**Pyrophyte Acquisition Corp. (ROC # 371601)** (the "**Company**")

**TAKE NOTICE** that at an extraordinary general meeting of the shareholders of the Company held on 28 April 2026, the following special resolution was passed:

RESOLVED, as a special resolution THAT, effective immediately, the Amended and Restated Memorandum and Articles of Association of the Company be amended by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) amending Article 51.7 as follows:

"In the event that the Company does not consummate a Business Combination on or before April 29, 2027 (or such earlier date as determined by the board of Directors and included in a public announcement), or such later time as the Members may approve in accordance with the Articles, the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) cease all operations except for the purpose of winding up;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as promptly as reasonably possible but not more than ten business days thereafter, 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 and not previously released to the Company (less taxes payable and up to US$100,000 of interest to pay dissolution expenses), divided by the number of then Public Shares in issue, which redemption will completely extinguish public Members' rights as Members (including the right to receive further liquidation distributions, if any); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) as promptly as reasonably possible following such redemption, subject to the approval of the Company's remaining Members and the Directors, liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and other requirements of Applicable Law."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) amending Article 51.8 as follows:

"In the event that any amendment is made to the Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to modify the substance or timing of the Company's obligation to allow redemption in connection with a Business Combination or redeem 100 per cent of the Public Shares if the Company does not consummate a Business Combination on or before April 29, 2027 (or such earlier date as determined by the board of Directors and included in a public announcement), or such later time as the Members may approve in accordance with the Articles; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with respect to any other provision relating to Members' rights or pre-Business Combination activity, each holder of Public Shares who is not the Sponsor, a Founder, Officer or Director shall be provided with the opportunity to redeem their Public Shares upon the approval or effectiveness of any such amendment 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 and not previously released to the Company to pay its taxes, divided by the number of then outstanding Public Shares.

<u>/s/ Ella Ebanks</u> 

Ella Ebanks

Corporate Administrator

for and on behalf of

Maples Corporate Services Limited

Dated this 28th day of April 2026

## Exhibit 10.1

**Exhibit 10.1**

**PROMISSORY NOTE**

Pyrophyte Acquisition Corp., a Cayman Islands exempt company (the "**Maker**"), promises to pay to the order of Pyrophyte Acquisition LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the "**Payee**"), or order, the principal sum of One Million Two Hundred Thousand Dollars ($1,200,000) or such lesser amount as has been advanced by Payee to Maker and remains unpaid under this Note on the Maturity Date (as defined below) in lawful money of the United States of America, on the terms and conditions described below. Subject to <u>Section 15</u>, all payments on this Note shall be made by check or wire transfer of immediately available funds to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Principal.** The entire unpaid principal balance of this Note shall be payable on the earlier of: (i) the date on which Maker consummates an initial business combination (the "**Closing Date**") and (ii) the date of the liquidation of Maker (the earlier of such date and the Closing Date, the "**Maturity Date**"). The principal balance may not be prepaid. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder. The Payee understands that if a business combination is not consummated, this Note will be repaid solely to the extent that the Maker has funds available to it outside of the trust account (the "**Trust Account**") established in which the proceeds of the initial public offering ("the "**IPO**") conducted by the Maker (including the deferred underwriters' discounts and commissions) and the proceeds of the sale of the warrants issued in a private placement that occurred prior to the closing of the IPO were deposited, as described in greater detail in Maker's Registration Statement on Form S-1 (333- 260041) filed with the U.S. Securities and Exchange Commission (the "**SEC**") in connection with the IPO (the "**Registration Statement**"), and that all other amounts will be forfeited, eliminated or otherwise forgiven. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Drawdown Requests.** From time to time from the date hereof through the Maturity Date, Maker may make written requests to Payee to draw down all or a portion of the aggregate principal amount of this Note (each, a "**Drawdown Request**"), provided that each of the following conditions have been satisfied: (i) Maker's board of directors has unanimously resolved to seek such funds for the purpose of making contributions to the Trust Account in connection with extending the period of time that Maker has to complete an initial business combination as described in the proxy statement filed by Maker on April 8, 2026 with the SEC and other documents filed with the filed by Maker with the SEC or and (ii) Payee has consented to such Drawdown Request (such consent not to be unreasonably withheld, conditioned or delayed). If both of the foregoing conditions have been satisfied, Payee shall fund each Drawdown Request via wire transfer no later than the later of (x) one (1) business day after receipt of a Drawdown Request or (y) the date as specified on the Drawdown Request; provided, however, that the maximum amount of drawdowns outstanding under this Note at any time may not exceed One Million Two Hundred Thousand Dollars ($1,200,000). Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **Interest.** No interest shall accrue on the unpaid principal balance of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Application of Payments.** All payments received by Payee pursuant to this Note shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorneys' fees, then to the reduction of the unpaid principal balance of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Events of Default.** The following shall constitute an event of default ()"**Event of Default** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Failure to Make Required Payments</u>. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Voluntary Bankruptcy, Etc</u>. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Involuntary Bankruptcy, Etc</u>. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon the occurrence of an Event of Default specified in Sections 5(b) or 5(c), the unpaid principal balance of this Note, and all other amounts payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **Waivers.** Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to this Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof or any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **Unconditional Liability.** Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker's liability hereunder. Any failure of Payee to exercise any right hereunder shall not be construed as a waiver of the right to exercise the same or any other right at any time and from time to time thereafter. Payee may accept late payments, or partial payments, even though marked "payment in full" or containing words of similar import or other conditions, without waiving any of its rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **Notices.** All notices, statements or other documents which are required or contemplated by this Note shall be: in writing and delivered (i) personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **Construction.** THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **Severability.** Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **Trust Waiver.** Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind ("**Claim**") in or to any distribution of or from the Trust Account, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **Amendment; Waiver.** Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **Assignment.** This Note binds and is for the benefit of the successors and permitted assigns of Maker and the Payee. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.

*[ Signature page follows*]

**IN WITNESS WHEREOF**, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

---

| | |
|:---|:---|
| **PYROPHYTE ACQUISITION CORP.** | **PYROPHYTE ACQUISITION CORP.** |
| By: | /s/ Sten Gustafson |
|  | Name: Sten Gustafson |
|  | Title: Chief Financial Officer |

---

[*Signature Page to Promissory Note*]

## Exhibit 10.2

**Exhibit 10.2**

THIS FOURTH AMENDED & RESTATED CONVERTIBLE PROMISSORY NOTE (THIS "AMENDED & RESTATED NOTE") AND THE SECURITIES INTO WHICH IT MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE. THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE COMPANY AND THE SECURITIES INTO WHICH IT MAY BE CONVERTED MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY TO THE EFFECT THAT ANY SALE OR OTHER DISPOSITION IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

**PYROPHYTE ACQUISITION CORP.<br> FOURTH AMENDED AND RESTATED<br> CONVERTIBLE PROMISSORY NOTE**

---

| | |
|:---|:---|
| Principal Amount: Not to Exceed $2,500,000 | Dated as of April 28, 2026 |
| (See <u>Schedule A</u>) |  |

---

WHEREAS, on October 14, 2021, the undersigned Pyrophyte Acquisition Corp., a Cayman Islands exempted company (the "***Maker***"), issued that certain Promissory Note (the "***Original Promissory Note***") to Pyrophyte Acquisition LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the "***Payee***");

WHEREAS, on April 1, 2024, Maker and Payee amended and restated the Original Promissory Note (the "***1st A&R Note***") to increase the maximum amount Maker may borrow from $1,500,000 to $1,840,616 and extend the Maturity Date (as defined below) from the earlier of (i) eighteen months after the closing of the IPO (as defined below) and (ii) the effective date of a Business Combination (as defined below) to the earlier of (i) thirty months after the closing of the IPO and (ii) the effective date of a Business Combination;

WHEREAS, on April 26, 2024, Maker and Payee amended and restated the 1st A&R Note (the "***2<sup>nd</sup> A&R Note***") to extend the Maturity Date from the earlier of (i) thirty months after the closing of the IPO and (ii) the effective date of a Business Combination to the earlier of (i) forty-two months after the closing of the IPO and (ii) the effective date of a Business Combination;

WHEREAS, on April 25, 2025, Maker and Payee amended and restated the 2nd A&R Note (the "***3rd A&R Note***") to extend the Maturity Date from the earlier of (i) forty-two months after the closing of the IPO and (ii) the effective date of a Business Combination to the earlier of (i) fifty-four months after the closing of the IPO and (ii) the effective date of a Business Combination; and

WHEREAS, the Maker and Payee desire to amend and restate in its entirety the 3rd A&R Note on the terms and conditions provided in this note (the "***Amended and Restated Note***").

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the existence and sufficiency of which is expressly recognized by each of the parties hereto, the parties agree as follows:

FOR VALUE RECEIVED and subject to the terms and conditions set forth herein, Maker, promises to pay to the order of Payee or its registered assigns or successors in interest, or order, the principal balance as set forth on <u>Schedule A</u> hereto in lawful money of the United States of America; which schedule shall be updated from time to time by the parties hereto to reflect all advances and readvances outstanding under this Amended & Restated Note; *provided* that at no time shall the aggregate of all advances and readvances outstanding under this Amended & Restated Note exceed two million five hundred dollars ($2,500,000). Any advance hereunder shall be made by the Payee upon receipt of a written request of the Maker commencing twelve (12) months after the closing of Maker's initial public offering (the "***IPO***"), related to ongoing expenses reasonably related to the business of the Maker and the consummation of the Business Combination (as defined below), and shall be set forth on <u>Schedule A</u>. Any advance hereunder shall only be made by the Payee as, and to the extent, expenses are incurred or are reasonably expected to be incurred and the amounts of such advance shall be used to pay or repay such expenses. All payments on this Amended & Restated Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Amended & Restated Note.

**1. Principal**. All unpaid principal under this Amended & Restated Note shall be due and payable in full on the earlier of (i) sixty-six (66) months after the closing of the IPO and (ii) the effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses (the "***Business Combination***") (such earlier date, the "***Maturity Date***"), unless accelerated upon the occurrence of an Event of Default (as defined below). Any outstanding principal amount to date under this Amended & Restated Note may be prepaid at any time by the Maker, at its election and without penalty; *provided*, *however*, that Payee shall have a right to first convert such principal balance pursuant to <u>Section 5</u> below upon notice of such prepayment.

**2. Interest.** No interest shall accrue on the unpaid balance of this Amended & Restated Note.

**3. Application of Payments**. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Amended & Restated Note, including (without limitation) reasonable attorney's fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Amended & Restated Note.

**4. Events of Default**. The occurrence of any of the following shall constitute an event of default ("***Event of Default***"):

(a) <u>Failure to Make Required Payments</u>. Failure by the Maker to pay the principal amount due pursuant to this Amended & Restated Note within five (5) business days of the date specified above or issue warrants pursuant to <u>Section 5</u> hereof, if so elected by the Payee.

(b) <u>Voluntary Bankruptcy, Etc</u>. The commencement by the Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of the Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of the Maker generally to pay its debts as such debts become due, or the taking of corporate action by the Maker in furtherance of any of the foregoing.

(c) <u>Involuntary Bankruptcy, Etc</u>. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of the Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days.

&nbsp;&nbsp;&nbsp;&nbsp;5. Conversion

(a) *Optional Conversion*. At the option of the Payee, at any time on or prior to the Maturity Date, any amounts outstanding under this Amended & Restated Note (or any portion thereof), up to $1,500,000 in the aggregate, may be converted into warrants to purchase Class A ordinary shares of the Maker ("***Ordinary Shares****")* at a conversion price (the "***Conversion Price***") equal to $1.00 per warrant ("***Warrants***"). If the Payee elects such conversion, the terms of such Warrants issued in connection with such conversion shall be identical to the warrants issued to the Payee in the private placement that closed on the date hereof (the "***Private Placement Warrants***") in connection with the IPO; *provided*, *however*, that the Warrants shall not be subject to forfeiture in connection with the Business Combination and that each Warrant shall entitle the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to the same adjustments applicable to the Private Placement Warrants. Before this Amended & Restated Note may be converted under this <u>Section 5(a)</u>, the Payee shall surrender this Amended & Restated Note, duly endorsed, at the office of the Maker and shall state therein the amount of the unpaid principal of this Amended & Restated Note to be converted and the name or names in which the certificates for Warrants are to be issued (or the book-entries to be made to reflect ownership of such Warrants with the Maker's transfer agent).

The conversion shall be deemed to have been made immediately prior to the close of business on the date of the surrender of this Amended & Restated Note and the person or persons entitled to receive the Warrants upon such conversion shall be treated for all purposes as the record holder or holders of such Warrants as of such date. Each such newly issued Warrant shall include a restricted legend that contemplates the same restrictions as the Private Placement Warrants. The Warrants and Ordinary Shares issuable upon exercise of the Warrants shall constitute "Registrable Securities" pursuant to that certain Registration Rights Agreement, dated as of October 26, 2021, by and between the Maker and Payee.

(b) *Remaining Principal*. All accrued and unpaid principal of this Amended & Restated Note that is not then converted into Warrants, shall continue to remain outstanding and to be subject to the conditions of this Amended & Restated Note.

(c) *Fractional Warrants; Effect of Conversion*. No fractional Warrants shall be issued upon conversion of this Amended & Restated Note. In lieu of any fractional Warrants to the Payee upon conversion of this Amended & Restated Note, the Maker shall pay to the Payee an amount equal to the product obtained by multiplying the Conversion Price by the fraction of a Warrant not issued pursuant to the previous sentence. Upon conversion of this Amended & Restated Note in full and the payment of any amounts specified in this <u>Section 5(c)</u>, this Amended & Restated Note shall be cancelled and void without further action of the Maker or the Payee, and the Maker shall be forever released from all its obligations and liabilities under this Amended & Restated Note.

&nbsp;&nbsp;&nbsp;&nbsp;6. Remedies.

(a) Upon the occurrence of an Event of Default specified in <u>Section 4(a)</u> hereof, the Payee may, by written notice to the Maker, declare this Amended & Restated Note to be due immediately and payable, whereupon the unpaid principal amount of this Amended & Restated Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

(b) Upon the occurrence of an Event of Default specified in <u>Sections 4(b)</u> or <u>4(c)</u>, the unpaid principal balance of this Amended & Restated Note, and all other sums payable with regard to this Amended & Restated Note, shall automatically and immediately become due and payable, in all cases without any action on the part of the Payee.

**7. Waivers**. The Maker and all endorsers and guarantors of, and sureties for, this Amended & Restated Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Amended & Restated Note, all errors, defects and imperfections in any proceedings instituted by the Payee under the terms of this Amended & Restated Note, and all benefits that might accrue to the Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and the Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by the Payee.

**8. Unconditional Liability**. The Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Amended & Restated Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by the Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by the Payee with respect to the payment or other provisions of this Amended & Restated Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to the Maker or affecting the Maker's liability hereunder.

**9. Notices**. All notices, statements or other documents which are required or contemplated by this Amended & Restated Note shall be made in writing and delivered (i) personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party, or (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission; one (1) business day after delivery to an overnight courier service; or five (5) days after mailing if sent by first class registered or certified mail.

**10. Construction**. THIS AMENDED & RESTATED NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN THE STATE OF NEW YORK.

**11. Severability**. Any provision contained in this Amended & Restated Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

**12. Trust Waiver.** Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind ("***Claim***") in or to any distribution of or from the trust account established in connection with the IPO, in which the proceeds of the IPO (including the deferred underwriters discounts and commissions) and certain proceeds of the sale of the Private Placement Warrants were deposited, as described in greater detail in the registration statement and prospectus initially filed with the U.S. Securities and Exchange Commission in connection with the IPO on October 5, 2021 and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.

**13. Amendment;** Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

**14. Successors and Assigns**. Subject to the restrictions on transfer in <u>Sections 15</u> and <u>16</u> below, the rights and obligations of the Maker and the Payee hereunder shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees of any party hereto (by operation of law or otherwise) and no assignment hereof shall be made without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.

**15. Transfer of this Amended & Restated Note or Securities Issuable on Conversion**. Any sale or other disposition of securities into which this Amended & Restated Note may be converted may only be made if it is a Permitted Transfer. With respect to any sale or other disposition of this Amended & Restated Note, the Payee shall give written notice to the Maker prior thereto, describing briefly the manner thereof, together with a written opinion reasonably satisfactory to the Maker in form and substance from counsel reasonably satisfactory to the Maker to the effect that such sale or other distribution may be effected without registration or qualification under any federal or state law then in effect and (ii) a written undertaking executed by the desired transferee reasonably satisfactory to the Maker in form and substance agreeing to be bound by the restrictions on transfer contained herein. Upon receiving such written notice, reasonably satisfactory opinion, or other evidence, and such written acknowledgement, the Maker, as promptly as practicable, shall notify the Payee that the Payee may sell or otherwise dispose of this Amended & Restated Note, all in accordance with the terms of the Amended & Restated Note delivered to the Maker. If a determination has been made pursuant to this <u>Section 15</u> that the opinion of counsel for the Payee, or other evidence, or the written acknowledgment from the desired transferee, is not reasonably satisfactory to the Maker, the Maker shall so notify the Payee promptly after such determination has been made. Each Amended & Restated Note thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with the Securities Act, unless in the opinion of counsel for the Maker such legend is not required in order to ensure compliance with the Securities Act. The Maker may issue stop transfer instructions to its transfer agent in connection with such restrictions. Subject to the foregoing, transfers of this Amended & Restated Note shall be registered upon registration on the books maintained for such purpose by or on behalf of the Maker. Prior to presentation of this Amended & Restated Note for registration of transfer, the Maker shall treat the registered holder hereof as the owner and holder of this Amended & Restated Note for the purpose of receiving all payments of principal hereon and for all other purposes whatsoever, whether or not this Amended & Restated Note shall be overdue and the Maker shall not be affected by notice to the contrary. For purposes hereof "***Permitted Transfer***" shall have the same meaning as any transfer that would be permitted for the Private Placement Warrants under the Letter Agreement to be entered into, among the Maker, the Payee and the other parties thereto.

**Acknowledgment**. The Payee is acquiring this Amended & Restated Note for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof. The Payee understands that the acquisition of this Amended & Restated Note involves substantial risk. The Payee has experience as an investor in securities of companies and acknowledges that it is able to fend for itself, can bear the economic risk of its investment in this Amended & Restated Note, and has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of this investment in this Amended & Restated Note and protecting its own interests in connection with this investment.

[*Signature Page Follows*]

**IN WITNESS WHEREOF**, the Maker, intending to be legally bound hereby, has caused this Amended & Restated Note to be duly executed by the undersigned as of the day and year first above written.

---

| | |
|:---|:---|
| **PYROPHYTE ACQUISITION CORP.** | **PYROPHYTE ACQUISITION CORP.** |
| By: | /s/ Sten L. Gustafson |
|  | Name: Sten L. Gustafson |
|  | Title: Chief Financial Officer |

---

[*Signature Page to Convertible Promissory Amended & Restated Note*]

**SCHEDULE A**

Subject to the terms and conditions set forth in the Amended & Restated Note to which this schedule is attached to, the principal balance due under the Amended & Restated Note shall be set forth in the table below and shall be updated from time to time to reflect all advances and readvances outstanding under the Amended & Restated Note.

---

| | | | |
|:---|:---|:---|:---|
| **Date** | **Drawing** | **Description** | **Principal Undrawn Balance** |

---