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Pyrophyte Acquisition Corp. II Announces Closing of $175 Million Initial Public Offering

HOUSTON, TX, July 18, 2025 (GLOBE NEWSWIRE) -- Pyrophyte Acquisition Corp. II (NYSE:PAII) (the "Company") today announced the closing of its initial public offering of 17,500,000 units at a public offering price of $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share.

The units are listed on the New York Stock Exchange (the "NYSE") and commenced trading under the ticker symbol "PAII.U" on July 17, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be listed on NYSE under the symbols "PAII" and "PAII WS," respectively.

Concurrently with the closing of the initial public offering, the Company closed on a private placement of 5,050,000 warrants to Pyrophyte Acquisition II LLC, the Company's sponsor, at a price of $1.00 per warrant, resulting in gross proceeds of $5,050,000. Each private placement warrant is exercisable to purchase one Class A ordinary share ...