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SPAC · Deal announced · PAII

Pyrophyte Acquisition Corp. II

Business combination with Sakuu Corporation

Pyrophyte Acquisition Corp. II (PAII) is a blank-check company (SPAC) that raised $175M in its initial public offering on Jul 17, 2025, listing on New York Stock Exchange. It agreed to combine with Sakuu Corporation, announced on Oct 15, 2026, at a stated value of $600M. The deal has not closed yet. Perkins Coie advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.

Sakuu Corporation is a Silicon Valley company that provides commercial-scale printing equipment and technologies to manufacturers of batteries, electrodes and supercapacitors. Its Kavian Platform is a manufacturing platform for dry printing of battery electrodes.

Status
Deal announced
Ticker
PAII
IPO date
Jul 17, 2025
IPO size
$175M
IPO exchange
New York Stock Exchange
Target
Sakuu Corporation
Target sector
Industrial
Announced
Oct 15, 2026
Stated deal value
$600M
Combined company
Sakuu Holdings, Inc. (SAKU)
SPAC counsel (IPO)
Perkins Coie and Maples and Calder
Underwriters' counsel (IPO)
Ellenoff Grossman & Schole

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