Pyrophyte Acquisition Corp. II Announces Closing of $175 Million Initial Public Offering
Pyrophyte Acquisition Corp. II (NYSE: PAII) has successfully completed its initial public offering (IPO) of 17,500,000 units at $10.00 per unit, raising $175 million. Each unit comprises one Class A ordinary share and one-half of one redeemable warrant, with whole warrants exercisable at $11.50 per share.
The company also completed a concurrent private placement of 5,050,000 warrants at $1.00 per warrant to its sponsor, generating additional proceeds of $5.05 million. The units trade on NYSE under "PAII.U", with Class A shares and warrants to trade separately under "PAII" and "PAII WS".
As a blank check company, PAII aims to pursue business combinations in the energy sector, with UBS Investment Bank serving as lead book-running manager.
Pyrophyte Acquisition Corp. II (NYSE: PAII) ha completato con successo la sua offerta pubblica iniziale (IPO) di 17.500.000 unit脿 a 10,00 $ per unit脿, raccogliendo 175 milioni di dollari. Ogni unit脿 comprende un'azione ordinaria di Classe A e met脿 di un warrant rimborsabile, con i warrant interi esercitabili a 11,50 $ per azione.
La societ脿 ha inoltre concluso un collocamento privato contemporaneo di 5.050.000 warrant a 1,00 $ per warrant rivolto al suo sponsor, generando ulteriori proventi per 5,05 milioni di dollari. Le unit脿 sono quotate alla NYSE con il simbolo "PAII.U", mentre le azioni di Classe A e i warrant saranno negoziati separatamente sotto i simboli "PAII" e "PAII WS".
In qualit脿 di societ脿 blank check, PAII mira a realizzare operazioni di fusione e acquisizione nel settore energetico, con UBS Investment Bank come gestore principale del libro ordini.
Pyrophyte Acquisition Corp. II (NYSE: PAII) ha completado con 茅xito su oferta p煤blica inicial (IPO) de 17.500.000 unidades a 10,00 $ por unidad, recaudando 175 millones de d贸lares. Cada unidad consta de una acci贸n ordinaria Clase A y la mitad de un warrant redimible, con warrants completos ejercitables a 11,50 $ por acci贸n.
La compa帽铆a tambi茅n complet贸 una colocaci贸n privada simult谩nea de 5.050.000 warrants a 1,00 $ por warrant para su patrocinador, generando ingresos adicionales por 5,05 millones de d贸lares. Las unidades cotizan en la NYSE bajo el s铆mbolo "PAII.U", mientras que las acciones Clase A y los warrants cotizar谩n por separado bajo "PAII" y "PAII WS".
Como compa帽铆a de cheque en blanco, PAII busca realizar combinaciones empresariales en el sector energ茅tico, con UBS Investment Bank como administrador principal del libro de 贸rdenes.
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Pyrophyte Acquisition Corp. II (NYSE : PAII) a r茅ussi son offre publique initiale (IPO) de 17 500 000 unit茅s 脿 10,00 $ par unit茅, levant ainsi 175 millions de dollars. Chaque unit茅 comprend une action ordinaire de classe A et un demi-warrant remboursable, les warrants entiers 茅tant exer莽ables 脿 11,50 $ par action.
La soci茅t茅 a 茅galement r茅alis茅 un placement priv茅 simultan茅 de 5 050 000 warrants 脿 1,00 $ par warrant aupr猫s de son sponsor, g茅n茅rant des fonds suppl茅mentaires de 5,05 millions de dollars. Les unit茅s sont cot茅es 脿 la NYSE sous le symbole "PAII.U", tandis que les actions de classe A et les warrants seront n茅goci茅s s茅par茅ment sous "PAII" et "PAII WS".
En tant que soci茅t茅 脿 ch猫que en blanc, PAII vise 脿 r茅aliser des combinaisons d'entreprises dans le secteur de l'茅nergie, UBS Investment Bank agissant en tant que chef de file.
Pyrophyte Acquisition Corp. II (NYSE: PAII) hat erfolgreich seinen B枚rsengang (IPO) von 17.500.000 Einheiten zu je 10,00 $ pro Einheit abgeschlossen und dabei 175 Millionen Dollar eingenommen. Jede Einheit besteht aus einer Stammaktie der Klasse A und einer halben einl枚sbaren Option, wobei ganze Optionen zu 11,50 $ pro Aktie ausge眉bt werden k枚nnen.
Das Unternehmen f眉hrte au脽erdem eine gleichzeitige Privatplatzierung von 5.050.000 Optionen zu je 1,00 $ pro Option an seinen Sponsor durch und erzielte zus盲tzliche Einnahmen von 5,05 Millionen Dollar. Die Einheiten werden an der NYSE unter "PAII.U" gehandelt, w盲hrend die Klasse A Aktien und Optionen separat unter "PAII" und "PAII WS" gehandelt werden.
Als Blankoscheckgesellschaft strebt PAII Unternehmenszusammenschl眉sse im Energiesektor an, wobei die UBS Investment Bank als leitender Bookrunner fungiert.
- Successfully raised $175 million through IPO at $10.00 per unit
- Additional $5.05 million raised through private placement of warrants
- 45-day over-allotment option for underwriters to purchase up to 2,625,000 additional units
- Strong institutional backing with UBS Investment Bank as lead book-runner
- Blank check company with no operating history or existing business
- No specific acquisition target identified yet
- Investment carries typical SPAC risks including potential dilution and uncertainty
Insights
Pyrophyte Acquisition Corp. II raises $175M in SPAC IPO targeting energy sector opportunities with standard $10 unit structure.
Pyrophyte Acquisition Corp. II has successfully completed its $175 million initial public offering, selling 17.5 million units at $10.00 each. This represents a standard SPAC structure where each unit contains one Class A ordinary share and half a warrant (exercisable at $11.50). The sponsor, Pyrophyte Acquisition II LLC, simultaneously purchased 5.05 million private placement warrants at $1.00 each, contributing an additional $5.05 million in proceeds.
This SPAC follows the typical trust account structure with 100% of the IPO proceeds ($175 million) placed in trust, which provides investors with the standard $10.00 per unit redemption floor. Pyrophyte II is targeting opportunities specifically in the energy sector, although its mandate allows flexibility to pursue combinations across any industry.
UBS Investment Bank served as lead book-runner with Brookline Capital Markets as co-manager. The underwriters received a standard 45-day option to purchase up to 2.625 million additional units to cover potential over-allotments.
As with all SPACs, Pyrophyte II now enters its search phase to identify and complete a business combination. Investors should note the sponsor's leadership includes Sten Gustafson as President and CFO, suggesting industry expertise relevant to their energy sector focus.
HOUSTON, TX, July 18, 2025 (GLOBE NEWSWIRE) -- Pyrophyte Acquisition Corp. II (NYSE: PAII) (the 鈥淐ompany鈥�) today announced the closing of its initial public offering of 17,500,000 units at a public offering price of
The units are listed on the New York Stock Exchange (the 鈥淣YSE鈥�) and commenced trading under the ticker symbol 鈥淧AII.U鈥� 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 鈥淧AII鈥� and 鈥淧AII WS,鈥� 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鈥檚 sponsor, at a price of
Pyrophyte Acquisition Corp. II is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any industry, sector or geographic region, it expects to target opportunities and companies in the energy sector.
UBS Investment Bank acted as the lead book-running manager of the offering and Brookline Capital Markets, a division of Arcadia Securities, LLC acted as the co-manager of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,625,000 units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the 鈥淪EC鈥�) on July 16, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019, Attention: Prospectus Department, or by email at: .
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute 鈥渇orward-looking statements,鈥� including with respect to the Company鈥檚 search for an initial business combination and the anticipated use of the net proceeds of the initial public offering and simultaneous private placement. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company鈥檚 registration statement for the initial public offering, available on the SEC鈥檚 website, , and the Company鈥檚 preliminary prospectus. The Company undertakes no obligation to update these statements for revisions or changes after the issuance of this release, except as required by law.
Contact
Sten Gustafson
President and Chief Financial Officer
Pyrophyte Acquisition Corp. II
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