Pyrophyte Acquisition II to Merge With Sakuu in $600 Million Stock Deal, Will Redomicile to Delaware
Pyrophyte Acquisition II will merge with Sakuu in an all-stock deal valuing the battery tech firm at $600 million. The SPAC will issue 60 million new shares at $10 each, redomicile to Delaware, and rename to Sakuu Holdings. Closing is subject to shareholder approvals, SEC review, and $30 million in net cash. Several agreements secure transaction support and post-close liquidity.
