Pyrophyte Acquisition Corp. II closes $175M IPO; $175M placed in trust

Pyrophyte Acquisition Corp. II

IPO of 17,500,000 units at $10.00/unit grossed $175M; units trade as PAII.U.
Concurrent private placement of 5,050,000 warrants to sponsor at $1.00 each raised $5.05M.
Proceeds of $175M deposited in trust; funds held until business completion or failure within 24 months.
Three independent directors appointed: Matteo Pasquali, Per Hornung Pedersen, Jamie Saxton.
Company may pursue business combination in any industry but expects to target energy sector.

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