Pyrophyte Acquisition Corp. II (Ticker: PAII/U US) is a Cayman Islands-domiciled company operating as a Special Purpose Acquisition Company (SPAC). Pyrophyte II plans to list on the New York Stock Exchange on July 17, 2025, offering 17.5 million units at $10.00 per unit to raise $175 million. The IPO gives the company a market capitalization of $175 million. Pyrophyte Acquisition Corp. II plans to use the IPO proceeds to effect a merger, share exchange, or similar business combination. According to company filings, its search will focus on the energy sector, specifically targeting companies that provide critical minerals, materials, equipment, or technologies supporting the energy ecosystem from traditional to renewable solutions. This is the second SPAC launched by the Pyrophyte management team.