Pyrophyte Acquisition to Take Sakuu Public in Deal Valuing It at $600 Million

09:20 AM EDT, 10/15/2026 (MT Newswires) -- Pyrophyte Acquisition Corp. II (PAII), a special purpose acquisition company, entered into a definitive business combination agreement to take Sakuu public, the companies said Thursday. Sakuu develops manufacturing technology that uses a dry-printing process to produce battery electrodes. The transaction values Sakuu at a pre-money equity value of $600 million. Proceeds are expected to fund further development and commercialization of Sakuu's Kavian dry-electrode printing platform, according to a joint statement. Upon closing, Pyrophyte Acquisition is expected to be renamed Sakuu and trade on the New York Stock Exchange under the "SAKU" ticker symbol. The deal was approved by both companies' boards and remains subject to shareholder approval and other customary closing conditions.