Praetorian Acquisition Corp. (PTOR) completed a planned leadership transition effective October 20, 2026. Nicole Seligman, Erica Dorfman and Alex Elias resigned as directors, and Peter Ondishin resigned as Chief Financial Officer and director. The Board appointed Roger L. Cloutier Jr., Jimmy Vaiopoulos, Charles P. Garcia and Joseph Tonnos as directors; Tonnos also succeeded Ondishin as Chief Financial Officer. Chief Executive Officer Justin Di Rezze, M.D. continues in that role.
Cloutier, Vaiopoulos and Garcia were determined to be independent directors and will serve on both the Audit and Compensation Committees. Vaiopoulos will chair the Audit Committee and serve as its financial expert; Garcia will chair the Compensation Committee. Each new appointee is expected to receive an indirect economic interest in founder shares held by Praetorian Sponsor LLC. The company said compensation arrangements for the new directors and CFO had not been determined.
Aristeia Capital, L.L.C. reported a passive ownership stake in Praetorian Acquisition Corp. units. Aristeia beneficially owns 1,350,000 units, each consisting of one Class A ordinary share and one-third of one redeemable warrant, representing 5.30% of this class.
The ownership percentage is based on 25,489,750 units outstanding as of August 3, 2026, as reported by Praetorian Acquisition Corp. Aristeia has sole voting and dispositive power over all 1,350,000 units and no shared voting or dispositive power.
PRAETORIAN ACQUISITION CORP has a significant shareholder group led by Magnetar Financial LLC and related entities, which together are reported as beneficially owning 1,500,000 Class A ordinary shares as of June 30, 2026. These shares are held across several Magnetar-managed funds and represent approximately 5.88% of the company’s outstanding Class A shares, based on 25,489,750 shares outstanding as of May 8, 2026. The Reporting Persons have shared voting and dispositive power over all 1,500,000 shares, with no sole voting or dispositive power reported.
Praetorian Acquisition Corp: LMR Investment Managers and principals Ben Levine and Stefan Renold report beneficial ownership of 1,550,000 Class A Ordinary Shares, representing 6.1% of the outstanding Class A Ordinary Shares as of March 31, 2026.
The filing states each of LMR Master Fund and LMR CCSA Master Fund directly holds 775,000 shares (about 3.0% each) based on 25,489,750 Class A Ordinary Shares outstanding as of March 31, 2026. The Reporting Persons disclose shared voting and dispositive power over the aggregate holdings.
Praetorian Acquisition Corp. reported its first quarter as a public SPAC for the period ended March 31, 2026. The company generated net income of $1,071,660, driven by $1,454,404 of interest on marketable securities held in its Trust Account, partially offset by $382,744 of general and administrative costs.
Following its IPO and over-allotment, Praetorian has $254,454,404 invested in a Trust Account and $2,003,126 of cash outside the Trust for working capital. As of May 5, 2026, there were 25,489,750 Class A ordinary shares and 8,433,333 Class B ordinary shares outstanding, and the SPAC continues to search for a suitable business combination within its defined completion window.
Praetorian Acquisition Corp. Schedule 13G: Praetorian Sponsor LLC beneficially owns 8,433,333 Class B ordinary shares, representing 24.86% of the Issuer's Ordinary Shares as calculated on 33,923,083 shares outstanding.
The Class B Ordinary Shares are convertible one-for-one into Class A Ordinary Shares upon or immediately following consummation of an initial business combination (subject to adjustment). Holdings are reported as held directly by Praetorian Sponsor LLC and indirectly attributed to Dr. Justin Di Rezze as managing member; Dr. Di Rezze disclaims beneficial ownership except to the extent of his pecuniary interest.
Praetorian Acquisition Corp. (PTOR) is a Cayman Islands special purpose acquisition company formed on September 29, 2025 to complete a merger or similar business combination, with a focus on traditional sectors that can be transformed by automation and artificial intelligence.
The company completed an IPO on January 26, 2026, selling 22,000,000 units at $10.00 each, followed by a full 3,300,000-unit over-allotment, and deposited a total of $253,000,000 into a Nasdaq-linked trust account. As of March 23, 2026, it had 33,923,083 Class A ordinary shares and 8,433,333 Class B ordinary shares outstanding.
Praetorian must complete an initial business combination by January 26, 2028, or by April 26, 2028 if certain agreements are in place, or otherwise liquidate and return trust funds to public shareholders. The filing highlights significant potential dilution from founder shares and private placement warrants and outlines extensive redemption rights and SPAC-specific regulatory and competitive risks.