Praetorian Acquisition Corp. Announces Closing of $220 Million Initial Public Offering

Rhea-AI Summary

Praetorian Acquisition Corp (NASDAQ:PTORU) closed its initial public offering of 22,000,000 units at $10.00 per unit, generating $220,000,000 in gross proceeds. The units began trading on January 23, 2026 on Nasdaq under the symbol PTORU.

Each unit comprises one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at $11.50. No fractional warrants will be issued. The company granted underwriters a 45-day option to purchase up to 3,300,000 additional units to cover over-allotments. The registration statement was declared effective by the SEC on January 22, 2026. The company is a blank check vehicle focused on acquisitions enabled by automation and artificial intelligence, led by CEO Justin Di Rezze M.D. and CFO Peter Ondishin.

Positive

• $220,000,000 gross proceeds from the IPO
• Units began trading on Jan 23, 2026 under PTORU
• Warrants exercisable at a fixed $11.50 price
• Underwriter option could increase units by 15%

Negative

• Blank check structure means no identified target at closing
• Warrant exercise could create future dilution for shareholders
• Over-allotment option may increase outstanding units by 15%

News Market Reaction

+0.15%

1 alert

+0.15% News Effect

On the day this news was published, PTORU gained 0.15%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Units Offered: 22,000,000 units IPO Price: $10.00 per unit Gross Proceeds: $220,000,000 +4 more

7 metrics

Units Offered 22,000,000 units Initial public offering size

IPO Price $10.00 per unit Initial public offering pricing

Gross Proceeds $220,000,000 Initial public offering gross proceeds

Warrant Exercise Price $11.50 per share Exercise price for each whole redeemable warrant

Over-Allotment Units 3,300,000 units Underwriters’ 45-day over-allotment option size

Over-Allotment Period 45 days Duration of underwriters’ option to purchase additional units

Trading Start Date January 23, 2026 Nasdaq trading commencement for units under ticker PTORU

Market Reality Check

Price: $9.99 Vol: Volume 8,472,784 is effec...

normal vol

$9.99 Last Close

Volume Volume 8,472,784 is effectively in line with 20-day average of 8,475,784. normal

Technical Trading essentially at 200-day MA around 9.96.

Peers on Argus

No peer stocks with momentum data or related headlines; trading appears company-...

No peer stocks with momentum data or related headlines; trading appears company-specific for PTORU.

Market Pulse Summary

This announcement confirms the closing of Praetorian Acquisition Corp.’s IPO, selling 22,000,000 uni...

Analysis

This announcement confirms the closing of Praetorian Acquisition Corp.’s IPO, selling 22,000,000 units at $10.00 each for gross proceeds of $220,000,000, with additional warrants exercisable at $11.50. As a blank check company focused on automation and artificial intelligence opportunities, future value will hinge on the eventual business combination. Investors may watch unit and warrant trading, deal announcements, and any subsequent filings for further clarity on direction.

Key Terms

initial public offering, redeemable warrant, exercise price, over-allotments, +4 more

8 terms

initial public offering financial

"announced today the closing of its initial public offering of 22,000,000 units."

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

redeemable warrant financial

"one Class A ordinary share of the Company and one-third of one redeemable warrant"

A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.

exercise price financial

"to purchase one Class A ordinary share of the Company at an exercise price of $11.50"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

over-allotments financial

"additional units at the initial public offering price, less underwriting discounts and commissions, to cover any over-allotments."

An over-allotment is a temporary extra batch of shares that the underwriters of a stock offering are allowed to sell beyond the original amount, with the right to buy those shares back later. Think of it as spare tickets sold to meet demand and then reclaimed if needed to keep the market orderly; it helps stabilize the stock price after an offering and can affect short-term supply and potential dilution, which matters to investors tracking price and ownership stakes.

blank check company financial

"The Company is a blank check company formed for the purpose of effecting a merger"

A blank check company is a publicly listed shell that raises money from investors before naming a specific business to buy or merge with, similar to handing a cashier a signed check and asking them to fill in the payee later. It matters to investors because it offers a faster, often cheaper path for private firms to become public, but carries extra risk since returns depend on the organizers’ ability to find a good deal and on limited information about the future business.

prospectus regulatory

"The offering was made only by means of a prospectus, copies of which may be obtained from:"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

registration statement regulatory

"A registration statement relating to the Company’s securities was declared effective"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

underwriter financial

"DLA Piper LLP (US) served as legal counsel to the underwriter."

An underwriter is a financial firm that evaluates, guarantees and helps sell a new security offering—such as a stock or bond—by buying the issue from the issuer and reselling it to investors or organizing the sale. Think of them as a bridge or safety net: they take on the risk, set the price, handle marketing and paperwork, and their work determines how much money a company can raise and how smoothly the offering reaches the market.

AI-generated analysis. Not financial advice.

Miami, FL, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Praetorian Acquisition Corp. (the “Company”) announced today the closing of its initial public offering of 22,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $220,000,000.

The Company’s units began trading on January 23, 2026 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “PTORU.” Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “PTOR” and “PTORW,” respectively.

The Company has granted the underwriters a 45-day option to purchase up to 3,300,000 additional units at the initial public offering price, less underwriting discounts and commissions, to cover any over-allotments.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but is focused on completing a business combination with an attractive target business in a traditional sector that can be transformed through the application of automation and artificial intelligence.

The Company’s management team is led by Justin Di Rezze M.D., its Chief Executive Officer, and Peter Ondishin, its Chief Financial Officer, who are both members of the Board of Directors of the Company (the “Board”). In addition, the Board includes Nicole Seligman, Alex Elias and Erica Dorfman.

Clear Street LLC acted as sole book-running manager for the offering. Reed Smith LLP served as legal counsel to the Company and Walkers (Cayman) LLP served as Cayman Islands counsel to the Company. DLA Piper LLP (US) served as legal counsel to the underwriter.

The offering was made only by means of a prospectus, copies of which may be obtained from: Clear Street LLC, 4 World Trade Center, 150 Greenwich Street, Floor 45, New York NY 10007, or by email at ECM@clearstreet.io, or by accessing the SEC’s website, www.sec.gov.

A registration statement relating to the Company’s securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 22, 2026. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds of the offering and the Company’s search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated, or that the Company will ultimately complete a business combination transaction.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contacts

Praetorian Acquisition Corp.
Justin Di Rezze M.D., Chief Executive Officer
jpd@direzzefamilyoffice.com

FAQ

What did Praetorian Acquisition Corp (PTORU) raise in its IPO?

Praetorian raised $220,000,000 from 22,000,000 units priced at $10 each.

When did PTORU start trading on Nasdaq and under what symbol?

The units began trading on January 23, 2026 on Nasdaq under the symbol PTORU.

What does each PTORU unit include and what is the warrant exercise price?

Each unit contains one Class A share and one-third of a warrant; whole warrants exercise at $11.50.

How many additional units can underwriters purchase and for how long?

Underwriters have a 45-day option to buy up to 3,300,000 additional units to cover over-allotments.

What is Praetorian Acquisition Corp's acquisition focus after the IPO (PTORU)?

The blank check company is focused on targets in traditional sectors transformable by automation and artificial intelligence.