Pyrophyte Acquisition priced its IPO of 17.5 million units at $10.00 each. Units begin trading today on the NYSE under PHYT.U”. Each consists of one Class A ordinary share and one-half of a warrant, with each whole warrant exercisable at $11.50 for a share.
Once the securities begin separate trading, shares and warrants are expected to list under PHYT and PHYT WS.
Pyrophyte Acquisition intends to focus on differentiated companies that provide products, services, equipment, and technologies that support a variety of energy transition solutions.
UBS Investment Bank is sole book-runner for the offering. The underwriters have the option to purchase up to an additional 2.625 million units to cover any over-allotments. Read more.
