Lineage Point Capital LP Makes New Investment in Pyrophyte Acquisition Corp. II $PAII

Lineage Point Capital LP acquired a new stake in Pyrophyte Acquisition Corp. II (NYSE:PAII) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 72,900 shares of the company’s stock, valued at approximately $733,000.

A number of other hedge funds also recently made changes to their positions in PAII. Virtu Financial LLC bought a new position in shares of Pyrophyte Acquisition Corp. II during the 4th quarter worth approximately $258,000. Westchester Capital Management LLC acquired a new stake in Pyrophyte Acquisition Corp. II during the 4th quarter valued at $2,515,000. Mercuria Capital Strategies LLC bought a new position in Pyrophyte Acquisition Corp. II during the fourth quarter worth $2,515,000. ABC Arbitrage SA bought a new position in Pyrophyte Acquisition Corp. II during the fourth quarter worth $252,000. Finally, Wolverine Asset Management LLC bought a new position in Pyrophyte Acquisition Corp. II during the fourth quarter worth $88,000.

Pyrophyte Acquisition Corp. II Price Performance

NYSE:PAII opened at $10.21 on Friday. The stock has a 50 day simple moving average of $10.17 and a 200 day simple moving average of $10.11. Pyrophyte Acquisition Corp. II has a 1-year low of $9.92 and a 1-year high of $10.22.

Pyrophyte Acquisition Corp. II (NYSE:PAII) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.05 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Pyrophyte Acquisition Corp. II in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pyrophyte Acquisition Corp. II presently has a consensus rating of “Sell”.

Pyrophyte Acquisition Corp. II Profile

FTAC Parnassus Acquisition II Ltd is a special purpose acquisition company (“SPAC”) formed as an exempted Cayman Islands company and listed on the New York Stock Exchange under the ticker PAII. Like other blank check companies, its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. Since its initial public offering in early 2021, FTAC Parnassus Acquisition II has held its proceeds in trust pending the identification of a suitable target.

The company is sponsored by FTAC Management LLC in collaboration with Parnassus Investments, a San Francisco–based asset manager known for its long‐term, sustainable‐value approach.