PYROPHYTE ACQUISITION CORP.

Ticker: PAII/WS CUSIP: G7309T110 Class: *W EXP 07/30/203

Holders for Q4 2025 Position Changes for Q4 2025

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

InstitutionSharesValue ($000)
Harraden Circle Investments, LLC1,038,991$416
METEORA CAPITAL, LLC796,316$303
LINDEN ADVISORS LP475,584$190
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND450,000$180
ARISTEIA CAPITAL, L.L.C.425,000$170
HGC Investment Management Inc.425,000$179
Shaolin Capital Management LLC404,899$162
Polar Asset Management Partners Inc.375,000$150
Alberta Investment Management Corp375,000$150
TENOR CAPITAL MANAGEMENT Co., L.P.350,000$140
Verition Fund Management LLC330,700$132
AQR Arbitrage LLC283,499$113
D. E. Shaw & Co., Inc.250,000$100
MOORE CAPITAL MANAGEMENT, LP250,000$100
PICTON MAHONEY ASSET MANAGEMENT250,000$100
Schonfeld Strategic Advisors LLC216,601$87
Governors Lane LP200,000$80
Sculptor Capital LP200,000$80
Magnetar Financial LLC187,915$75
OMERS ADMINISTRATION Corp175,000$70
Clear Street Group Inc.173,423$69
WHITEBOX ADVISORS LLC150,000$60
TORONTO DOMINION BANK133,238$53
Boussard & Gavaudan Investment Management LLP125,000$50
HBK INVESTMENTS L P125,000$50
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS120,440$48
Parallax Volatility Advisers, L.P.108,000$43
Wealthspring Capital LLC106,395$40
GLAZER CAPITAL, LLC100,000$0
BNP PARIBAS ARBITRAGE, SA91,500$37
Radcliffe Capital Management, L.P.77,981$31
Periscope Capital Inc.59,600$24
Hudson Bay Capital Management LP56,645$23
READYSTATE ASSET MANAGEMENT LP28,372$11
GRITSTONE ASSET MANAGEMENT LLC24,799$10
BOOTHBAY FUND MANAGEMENT, LLC20,000$201
StoneX Group Inc.11,051$4
Yaupon Capital Management LP10,354$4
Total (38 institutions)8,981,303$3,736