Pyrophyte Acquisition Corp. II (PAII.U), an energy-focused SPAC based in Houston, priced its IPO in line with the terms in the prospectus – 17.5 million units at $10.00 each – and raised $175.0 million on Wednesday night, July 16, 2025. Pyrophyte Acquisition Corp. II (PAII.U) is expected to start trading TODAY – Thursday, July 17, 2025 – on the New York Stock Exchange. The Pyrophyte II deal is the third SPAC IPO priced so far this week.
UBS Investment Bank was the sole book-runner.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant., according to the prospectus.
From the prospectus: “Specifically, we seek to focus on differentiated targets that provide critical minerals and materials, equipment, and/or technologies that support the span of energy solutions from traditional to renewable energy. We do not intend to acquire companies that are excessively leveraged.”
Pyrophyte Acquisition Corp. II (PAII.U) is incorporated in the Cayman Islands.
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