Pyrophyte Acquisition Corp. II unveils pricing details for an initial public offering worth a whopping $175 million.
Pyrophyte Acquisition Corp. II (PAII.U) has announced the successful pricing of its initial public offering (IPO) of 17.5 million units, priced at $10.00 each. The special purpose acquisition company (SPAC) is focused on the energy sector and aims to acquire or merge with businesses in the energy supply chain.
The units, consisting of one Class A ordinary share and one-half of one redeemable warrant, will begin trading on the New York Stock Exchange (NYSE) from July 17, 2025, under the ticker symbol "PAII.U." The SPAC has given the underwriters a 45-day option to purchase up to an additional 2,625,000 units to cover over-allotments, if any. The offering is expected to close on July 18, 2025.
Each whole warrant in the offering is exercisable to purchase one Class A ordinary share at $11.50 per share. Once the securities begin trading separately, the shares and warrants will trade under the symbols PAII and PAII WS, respectively.
The financial team and advisors for Pyrophyte Acquisition Corp. II include UBS Investment Bank as the lead book-running manager, Brookline Capital Markets as co-manager, Perkins Coie LLP as issuer’s counsel, Ellenoff Grossman & Schole LLP as underwriter’s counsel, WithumSmith+Brown, PC as auditor, and Continental Stock Transfer & Trust Company as trustee.
Bernard Duroc-Danner serves as the CEO and Director, with Sten Gustafson as President, CFO, and Director. The board also includes Per Hornung Pedersen, Jamie Saxton, and Matteo Pasquali.
As of July 16, 2025, Pyrophyte Acquisition Corp. II is the 74th SPAC to go public in 2025. Investors seeking further financial information as the company progresses should monitor NYSE and SEC filings under ticker PAII.U and PAII.
It is worth noting that Sagtec, a company potentially aligned with Pyrophyte Acquisition Corp. II's sectoral focus, is set to announce its first half 2025 financial results on July 21, 2025. This announcement may provide additional context for investors following the SPAC's sectoral focus.
Investors who are interested in the energy sector and business opportunities in the energy supply chain might consider Pyrophyte Acquisition Corp. II, as the company plans to invest in or merge with energy-related businesses. The successful pricing of Pyrophyte Acquisition Corp. II's initial public offering (IPO) allows investors to purchase units, consisting of shares and warrants, from July 17, 2025, on the New York Stock Exchange (NYSE) under the ticker symbol "PAII.U."
