Core Viewpoint - Praetorian Acquisition Corp. successfully closed its initial public offering (IPO) of 22,000,000 units, raising gross proceeds of $220,000,000 at a price of $10.00 per unit [1][2]. Group 1: IPO Details - The units began trading on January 23, 2026, on the Nasdaq Global Market under the ticker symbol "PTORU" [2]. - Each unit consists of one Class A ordinary share and one-third of a redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at an exercise price of $11.50 [2]. - The underwriters have a 45-day option to purchase up to 3,300,000 additional units at the IPO price to cover over-allotments [3]. Group 2: Company Overview - Praetorian Acquisition Corp. is a blank check company aimed at executing a business combination with one or more businesses, focusing on sectors that can benefit from automation and artificial intelligence [4]. - The management team includes Justin Di Rezze M.D. as CEO and Peter Ondishin as CFO, along with other board members [5]. Group 3: Legal and Regulatory Information - Clear Street LLC acted as the sole book-running manager for the offering, with Reed Smith LLP and Walkers (Cayman) LLP serving as legal counsel [6]. - The registration statement for the Company's securities was declared effective by the SEC on January 22, 2026 [8].

Group 1 - In 2025, 145 SPACs listed on the US stock market, accounting for 39.08% of the total new listings that year, indicating a strong momentum that may continue into this year [1] - Recently, two new stocks, BITGO HOLDINGS (BTGO) and Aldabra 4 Liquidity Opportunity Vehicle (ALOVU), were listed on the US stock market, with three additional SPACs, Spring Valley Acquisition IV (SVIVU) and Starlink AI Acquisition (OTAIU), submitting listing applications [1] - Aldabra 4 Liquidity Opportunity Vehicle, a special purpose acquisition company (SPAC), was initiated by Chairman Nathan Leight and aims to target companies valued between $500 million and $2 billion without limiting the industry or region [4] Group 2 - On January 22, Aldabra 4 Liquidity Opportunity Vehicle listed on NASDAQ at a price of $10 per share, issuing 26.1 million shares and raising $261 million [2] - Spring Valley Acquisition IV and Starlink AI Acquisition submitted their prospectuses to the SEC, seeking to raise $200 million and $60 million, respectively [5] - Spring Valley Acquisition IV focuses on energy, targeting the "power infrastructure" and "decarbonization" ecosystems, while Starlink AI Acquisition aims at blockchain, cryptocurrency, artificial intelligence, and fintech/energy tech sectors [6] Group 3 - Five SPACs are set to list tonight, including Legato Merger IV (LEGOU), Praetorian Acquisition (PTORU), Xsolla SPAC 1 (XSLLU), Helix Acquisition Corp. III (HLXC), and Archimedes Tech SPAC Partners III (ARCIU), raising funds of $200 million, $220 million, $250 million, $125 million, and $200 million, respectively [6] - Legato Merger IV, initiated by Director Gregory Monahan, plans to target the industrial and AI sectors [7] - Praetorian Acquisition, led by Director Justin Di Rezze, focuses on AI and automation, while Xsolla SPAC 1, chaired by Aleksandr Agapitov, emphasizes video games, fintech, ad tech, and telecommunications [7]

Company Overview - Praetorian Acquisition Corp. is a blank check company formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses [2] - The company aims to pursue acquisition opportunities across various industries, focusing on traditional sectors that can be transformed through automation and artificial intelligence [2] Initial Public Offering (IPO) Details - The company announced the pricing of its initial public offering of 22,000,000 units at a price of $10.00 per unit, with trading expected to begin on January 23, 2026, under the ticker symbol "PTORU" [1] - Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at a price of $11.50 per share [1] - The offering is expected to close on January 26, 2026, subject to customary closing conditions, and underwriters have a 45-day option to purchase an additional 3,300,000 units to cover over-allotments [1] Management Team - The management team is led by Justin Di Rezze M.D. as Chief Executive Officer and Peter Ondishin as Chief Financial Officer, both of whom are members of the Board of Directors [3] - The Board also includes Nicole Seligman, Alex Elias, and Erica Dorfman [3] Underwriters and Legal Counsel - Clear Street LLC is acting as the sole book-running manager for the offering [4] - Legal counsel for the company includes Reed Smith LLP and Walkers (Cayman) LLP, while DLA Piper LLP (US) is serving as legal counsel to the underwriters [4]

As filed with the U.S. Securities and Exchange Commission on November 14, 2025. Registration No. 333-_______ –––––––––––––––––––––––––– FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 –––––––––––––––––––––––––– Praetorian Acquisition Corp. (Exact name of registrant as specified in its charter) –––––––––––––––––––––––––– Cayman Islands 6770 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer UNITED STATE ...