Praetorian Acquisition Corp. 8-K

What Happened Praetorian Acquisition Corp. filed an 8-K on March 19, 2026 reporting the closing of its initial public offering and the full exercise of the underwriters’ over‑allotment. The Company sold 22,000,000 Units at $10.00 per Unit in the IPO (gross $220,000,000) and the underwriters later exercised their 45‑day option to buy an additional 3,300,000 Units (over‑allotment) on March 12, 2026, closing March 16, 2026 (gross $33,000,000). Including private placements, the Company issued a total of 25,300,000 Units for aggregate gross proceeds of $253,000,000. Simultaneously, Praetorian sold 5,000,000 private placement warrants to Praetorian Sponsor LLC at $1.00 each (gross $5,000,000). An unaudited pro forma balance sheet as of March 16, 2026 is included as Exhibit 99.1.

Key Details

• IPO: 22,000,000 Units at $10.00/unit (gross $220,000,000).
• Over‑allotment: 3,300,000 additional Units exercised; additional gross $33,000,000; closing March 16, 2026.
• Private placements: 5,000,000 warrants sold to sponsor at $1.00 each (total gross $5,000,000); issued under Section 4(a)(2).
• Representative shares: 165,000 issued at IPO + 24,750 issued with over‑allotment (total 189,750); transfer restrictions for at least 180 days and certain waiver provisions by underwriters.
• Trust account: $253,000,000 of proceeds were deposited into the Company’s trust account for public stockholders.

Why It Matters This 8‑K confirms Praetorian completed its IPO and related private placements and placed the IPO proceeds into the trust account—key milestones for a blank‑check (SPAC) company preparing to seek an initial business combination. Investors should note the total capital raised ($253M), the existence of private placement warrants and restricted representative shares, and that an unaudited pro forma balance sheet is available for review. These facts affect the Company’s cash available for pursuing a target and the equity/warrant structure that will matter in any future merger or shareholder vote.