PYROPHYTE ACQUISITION CORP.

Ticker: PAII CUSIP: G7309T102 Class: CL A SHS

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (16)

HGC Investment Management Inc.
Value ($000) $8,551 Shares 850,000
Mercuria Capital Strategies, LLC
Value ($000) $2,515 Shares 250,000
Wealthspring Capital LLC
Value ($000) $2,032 Shares 201,990
Harraden Circle Investments, LLC
Value ($000) $1,336 Shares 132,789
Westchester Capital Management, LLC
Value ($000) $2,515 Shares 250,000
Polar Asset Management Partners Inc.
Value ($000) $7,545 Shares 750,000
MOORE CAPITAL MANAGEMENT, LP
Value ($000) $5,030 Shares 500,000
Alberta Investment Management Corp
Value ($000) $7,545 Shares 750,000
Magnetar Financial LLC
Value ($000) $3,781 Shares 375,830
OMERS ADMINISTRATION Corp
Value ($000) $3,521 Shares 350,000
READYSTATE ASSET MANAGEMENT LP
Value ($000) $571 Shares 56,744
ABC ARBITRAGE SA
Value ($000) $252 Shares 25,000
Karpus Management, Inc.
Value ($000) $503 Shares 50,000
BOOTHBAY FUND MANAGEMENT, LLC
Value ($000) $402 Shares 40,000
WOLVERINE ASSET MANAGEMENT LLC
Value ($000) $88 Shares 8,705
Virtu Financial LLC
Value ($000) $0 Shares 25,628

Increased Positions (7)

Periscope Capital Inc.
Value ($000) $3,952 (+98.6%) Shares 392,800 (+96.6%)
Radcliffe Capital Management, L.P.
Value ($000) $3,872 (+20.3%) Shares 384,841 (+19.1%)
MIZUHO SECURITIES USA LLC
Value ($000) $2,485 (+122.1%) Shares 248,288 (+120.3%)
Governors Lane LP
Value ($000) $4,193 (+5.2%) Shares 416,789 (+4.2%)
GLAZER CAPITAL, LLC
Value ($000) $8 (+14.7%) Shares 800,000 (+13.6%)
Schonfeld Strategic Advisors LLC
Value ($000) $6,137 (+27.6%) Shares 610,000 (+26.3%)
FNY Investment Advisers, LLC
Value ($000) $0 Shares 870 (+770.0%)

Decreased Positions (9)

METEORA CAPITAL, LLC
Value ($000) $734 (-61.9%) Shares 73,000 (-62.2%)
Shaolin Capital Management LLC
Value ($000) $3,815 (-23.4%) Shares 379,263 (-24.1%)
Boussard & Gavaudan Investment Management LLP
Value ($000) $2,417 (-2.9%) Shares 240,000 (-4.0%)
Verition Fund Management LLC
Value ($000) $5,296 (-24.0%) Shares 526,415 (-24.8%)
Clear Street Group Inc.
Value ($000) $2,987 (-26.8%) Shares 296,898 (-27.6%)
TORONTO DOMINION BANK
Value ($000) $5,805 (-22.3%) Shares 577,016 (-23.1%)
Sculptor Capital LP
Value ($000) $3,765 (-5.5%) Shares 374,254 (-6.4%)
MILLENNIUM MANAGEMENT LLC
Value ($000) $7,797 (-9.5%) Shares 775,000 (-10.4%)
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND
Value ($000) $8,551 (-4.6%) Shares 850,000 (-5.6%)

Exited Positions (3)

StoneX Group Inc.
Value ($000) $1,099 Shares 110,371
CANTOR FITZGERALD, L. P.
Value ($000) $726 Shares 72,900
Parallax Volatility Advisers, L.P.
Value ($000) $2,625 Shares 263,600