Battery printer Sakuu to merge with Pyrophyte SPAC at $600 million
The combined company would trade on the New York Stock Exchange under the ticker SAKU, with Sakuu's Robert Bagheri staying on as chief executive.
By The Carnegie Standard Staff
· 1 min read
Sakuu Corporation, a San Jose battery-manufacturing equipment maker, agreed to combine with Pyrophyte Acquisition Corp. II, a Houston-based blank-check company listed on the New York Stock Exchange, the two said on October 15, 2026 in a statement distributed by Business Wire.
The transaction values Sakuu at $600 million before new money is added. Pyrophyte will take the Sakuu name after closing and is expected to trade on the NYSE under the ticker SAKU.
Sakuu, founded in 2016, sells equipment that prints battery and supercapacitor electrodes through a dry process rather than conventional wet manufacturing. The company said the cash would fund further development of its Kavian platform, which it expects to make commercially available in the second quarter of 2027, and help it fill existing orders. It also markets the technology for supercapacitors built into data center server racks.
Both boards approved the deal unanimously. It still requires shareholder votes at each company and other customary conditions. Robert Bagheri, Sakuu's founder and chief executive, and Arwed Niestroj, president and chief operating officer, will stay in their roles.
Cohen & Company Capital Markets advised Sakuu, with Nelson Mullins Riley & Scarborough as legal counsel. Brookline Capital Markets advised Pyrophyte, with Ashurst Perkins Coie US as legal counsel.
This story was first reported by Business Wire.
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