Blank-Check Company Pyrophyte Acquisition Files for $175M IPO

Dow Jones

Jun 28, 2025

By Natalie Weger

Special purpose acquisition company Pyrophyte Acquisition has filed for an initial public offering valued at $175 million.

The Cayman Islands blank-check company plans to offer 17.5 million units at $10 apiece, according to a filing with the Securities and Exchange Commission on Friday.

The company plans to list shares on the New York Stock Exchange under the ticker PAII.

Pyrophyte granted the offering's underwriters a 45-day option to purchase up to an additional 2.6 million units to cover over-allotments.

Pyrophyte said it would focus on target businesses that provide critical minerals and materials, equipment or technologies supporting energy solutions.

Write to Natalie Weger at natalie.weger@wsj.com

(END) Dow Jones Newswires

June 27, 2025 17:26 ET (21:26 GMT)

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