Pyrophyte Acquisition Corp. II Announces Closing of Over-Allotment Option, Resulting in Total Gross Proceeds of $200.4 Million in Initial Public Offering
Pyrophyte Acquisition Corp. II (NYSE: PAII.U) has successfully completed its initial public offering with the exercise of the over-allotment option, raising total gross proceeds of $200.4 million. The company sold an additional 2,541,150 units at $10.00 per unit, generating extra proceeds of $25.4 million.
Each unit comprises one Class A ordinary share and one-half redeemable warrant, with whole warrants exercisable at $11.50 per share. Additionally, the company's sponsor, Pyrophyte Acquisition II LLC, participated in a private placement of 5,050,000 warrants at $1.00 per warrant, contributing $5.05 million. The entire proceeds of $200.4 million have been placed in trust.
The SPAC 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.U) ha completato con successo la sua offerta pubblica iniziale esercitando l'opzione di sovrassegnazione, raccogliendo un ricavo lordo totale di 200,4 milioni di dollari. La società ha venduto ulteriori 2.541.150 unità a 10,00 dollari ciascuna, generando proventi aggiuntivi per 25,4 milioni di dollari.
Ogni unità comprende una azione ordinaria di Classe A e mezza warrant rimborsabile, con warrant interi esercitabili a 11,50 dollari per azione. Inoltre, lo sponsor della società, Pyrophyte Acquisition II LLC, ha partecipato a un collocamento privato di 5.050.000 warrant a 1,00 dollaro ciascuno, apportando 5,05 milioni di dollari. L'intero importo di 200,4 milioni di dollari è stato depositato in un fondo fiduciario.
Lo SPAC mira a realizzare fusioni e acquisizioni nel settore energetico, con UBS Investment Bank come principale responsabile del libro ordini.
Pyrophyte Acquisition Corp. II (NYSE: PAII.U) ha completado con éxito su oferta pública inicial con el ejercicio de la opción de sobresuscripción, recaudando un total bruto de 200,4 millones de dólares. La compañía vendió 2.541.150 unidades adicionales a 10,00 dólares por unidad, generando ingresos extra por 25,4 millones de dólares.
Cada unidad consta de una acción ordinaria Clase A y medio warrant redimible, con warrants completos ejercitables a 11,50 dólares por acción. Además, el patrocinador de la compañía, Pyrophyte Acquisition II LLC, participó en una colocación privada de 5.050.000 warrants a 1,00 dólar cada uno, aportando 5,05 millones de dólares. La totalidad de los ingresos de 200,4 millones de dólares se ha depositado en un fideicomiso.
El SPAC tiene como objetivo realizar combinaciones empresariales en el sector energético, con UBS Investment Bank como gerente principal del libro de órdenes.
Pyrophyte Acquisition Corp. II (NYSE: PAII.U)는 오버얼로트먼트 옵션을 행사하여 성공적으로 기업공개(IPO)를 완료했으며, 총 2억 400만 달러의 총 수익을 조달했습니다. 회사는 추가로 2,541,150 단위를 단위당 10.00달러에 판매하여 2,540만 달러의 추가 수익을 얻었습니다.
각 단위는 클래스 A 보통주 1주와 0.5개의 상환 가능 워런트로 구성되며, 전체 워런트는 주당 11.50달러에 행사 가능합니다. 또한 회사의 스폰서인 Pyrophyte Acquisition II LLC는 워런트 5,050,000개를 개당 1.00달러에 사모 배정에 참여하여 505만 달러를 기여했습니다. 총 2억 400만 달러의 수익금 전액은 신탁 계좌에 예치되었습니다.
이 SPAC은 에너지 부문에서 사업 결합을 추진할 계획이며, UBS 투자은행이 주도적인 북러닝 매니저 역할을 맡고 있습니다.
Pyrophyte Acquisition Corp. II (NYSE : PAII.U) a réussi son offre publique initiale en exerçant l'option de surallocation, levant un produit brut total de 200,4 millions de dollars. La société a vendu 2 541 150 unités supplémentaires à 10,00 dollars l'unité, générant des recettes supplémentaires de 25,4 millions de dollars.
Chaque unité comprend une action ordinaire de classe A et un demi-warrant remboursable, les warrants entiers étant exerçables à 11,50 dollars par action. De plus, le sponsor de la société, Pyrophyte Acquisition II LLC, a participé à un placement privé de 5 050 000 warrants à 1,00 dollar chacun, apportant 5,05 millions de dollars. La totalité des produits de 200,4 millions de dollars a été placée en fiducie.
Le SPAC vise à réaliser des combinaisons d'entreprises dans le secteur de l'énergie, avec UBS Investment Bank en tant que gestionnaire principal du livre d'ordres.
Pyrophyte Acquisition Corp. II (NYSE: PAII.U) hat seinen Börsengang erfolgreich mit Ausübung der Mehrzuteilungsoption abgeschlossen und dabei Gesamterlöse von 200,4 Millionen US-Dollar erzielt. Das Unternehmen verkaufte zusätzlich 2.541.150 Einheiten zu je 10,00 US-Dollar, was zusätzliche Erlöse von 25,4 Millionen US-Dollar generierte.
Jede Einheit besteht aus einer Stammaktie der Klasse A und einer halben rückzahlbaren Option, wobei ganze Warrants zu 11,50 US-Dollar pro Aktie ausübbar sind. Darüber hinaus beteiligte sich der Sponsor des Unternehmens, Pyrophyte Acquisition II LLC, an einer Privatplatzierung von 5.050.000 Warrants zu je 1,00 US-Dollar und steuerte 5,05 Millionen US-Dollar bei. Die gesamten Erlöse von 200,4 Millionen US-Dollar wurden treuhänderisch verwahrt.
Der SPAC beabsichtigt, Unternehmenszusammenschlüsse im Energiesektor anzustreben, wobei die UBS Investment Bank als leitender Bookrunner fungiert.
- Successfully raised $200.4 million in total gross proceeds
- Complete exercise of over-allotment option shows strong investor demand
- 100% of IPO proceeds ($10.00 per unit) placed in trust
- Additional $5.05 million raised through private placement warrants
- No specific target company identified yet
- Investment is subject to typical SPAC risks including potential deal failure
- Warrant dilution potential at $11.50 exercise price
Insights
Pyrophyte Acquisition Corp. II completes its IPO with $200.4M in proceeds, targeting future acquisitions in the energy sector.
Pyrophyte Acquisition Corp. II (NYSE: PAII.U) has successfully completed its initial public offering with the exercise of an over-allotment option, raising an additional
The SPAC structure includes units comprising one Class A ordinary share and half a warrant, with each whole warrant exercisable at
The entire
UBS Investment Bank served as the lead book-running manager, with Brookline Capital Markets acting as co-manager. This represents a sizeable blank check company entering the market with significant capital to pursue acquisitions in the energy space, which has been experiencing substantial transformation due to global energy transition trends.
HOUSTON, TX, July 29, 2025 (GLOBE NEWSWIRE) -- Pyrophyte Acquisition Corp. II (NYSE: PAII.U) (the “Company”) today announced that it has consummated the sale of an additional 2,541,150 units subject to the over-allotment option granted to the underwriters in connection with its initial public offering. The additional units were sold at
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 on July 18, 2025, 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
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.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) 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.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s 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’s registration statement for the initial public offering, available on the SEC’s website, www.sec.gov, and the Company’s 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
sten.gustafson@pyrophytespac.com
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