Praetorian Acquisition Corp. filed its Form 10-Q for the quarter ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 12, 2026, reporting results for a blank-check company that completed its initial public offering earlier in the year.

Key Highlights

  • Trust Account: Marketable securities held in trust totaled $259,091,709 as of September 30, 2026, with 25,300,000 Class A ordinary shares subject to possible redemption at $10.24 per share.
  • Nine-Month Net Income: The company reported net income of $3,313,081 for the nine months ended September 30, 2026, driven by $6,091,709 of interest earned on marketable securities held in trust.
  • Q3 Net Income: For the three months ended September 30, 2026, net income was $1,233,021, with $2,370,770 in trust interest partially offset by $1,137,749 in general and administrative costs.
  • Shares Outstanding: As of November 12, 2026, there were 25,489,750 Class A ordinary shares and 8,433,333 Class B ordinary shares issued and outstanding.
  • Shareholders' Deficit: Total shareholders' deficit stood at $(7,938,530) as of September 30, 2026, compared to $(24,204) at December 31, 2025, reflecting accretion of Class A shares to redemption value.
  • Over-Allotment Exercised: The underwriters exercised the over-allotment option in full on March 12, 2026, with the closing of the additional units occurring on March 16, 2026, releasing 1,100,000 Class B ordinary shares from forfeiture conditions.
  • Deferred Underwriting Fee: A deferred underwriting fee of $7,590,000 was recorded as a long-term liability as of September 30, 2026.

Praetorian Acquisition Corp. Reports Q3 2026 Financial Position and Trust Activity

According to the filing, Praetorian Acquisition Corp. (NASDAQ:PTORU, NASDAQ:PTOR, NASDAQ:PTORW) is a blank-check company incorporated in the Cayman Islands with its principal offices in Miami, Florida. The company is classified as a shell company, a smaller reporting company, and an emerging growth company. Total assets as of September 30, 2026 were $260,933,333, with the dominant component being $259,091,709 in marketable securities held in the Trust Account.

The filing disclosed that the company generated $6,091,709 in interest income on trust assets for the nine months ended September 30, 2026, against $2,778,628 in general and administrative costs, producing a nine-month net income of $3,313,081. For the three months ended September 30, 2026, basic and diluted net income per share was $0.04 for both Class A and Class B ordinary shares. The company reported an accumulated deficit of $(7,939,392) at September 30, 2026, compared to $(49,204) at December 31, 2025, with the increase attributable in significant part to accretion of Class A ordinary shares subject to possible redemption to their redemption value.

The filing noted that the company sold 5,000,000 Private Placement Warrants in the first quarter of 2026, generating $5,000,000, and that the fair value of Public Warrants at issuance was recorded at $4,216,667. Representative shares of 189,750 Class A ordinary shares were issued at a fair value of $745,718 as of issuance. Cash and cash equivalents held outside the trust were $1,653,119 as of September 30, 2026, compared to zero at December 31, 2025. Total current liabilities were $2,190,154, including $2,115,154 in accrued expenses.

What Was Disclosed

Praetorian Acquisition Corp. filed its 10-Q for the quarter ended September 30, 2026, disclosing trust assets of $259,091,709, nine-month net income of $3,313,081, a shareholders' deficit of $(7,938,530), and a deferred underwriting fee liability of $7,590,000, along with share counts and per-share earnings for both share classes.