This filing confirms the SPAC's IPO capital structure is largely set. Monitor for a business combination announcement, as the sponsor now has a $175.9M trust to deploy. The remaining 900,000 over-allotment units (45-day window) could add up to $9M more to the trust if exercised.
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Executive Summary
Patriot Acquisition Corp. filed an 8-K reporting the partial exercise of the underwriters' over-allotment option, resulting in the sale of an additional 1,500,000 units at $10.00 per unit for gross proceeds of $15,000,000, plus a concurrent private placement of 75,000 warrants to KBW for $75,000. Total trust account proceeds increased to $175,875,000. This is a routine SPAC IPO closing event with no material new information for the market.
Key Facts
- Underwriters partially exercised over-allotment option for 1,500,000 units at $10.00/unit, generating $15,000,000 gross proceeds.
- Concurrent private placement of 75,000 warrants to KBW at $1.00/warrant generated $75,000.
- Total trust account now holds $175,875,000 from IPO and private placement proceeds.
- 375,000 founder shares are no longer subject to forfeiture due to the partial over-allotment exercise.
- Underwriters retain a 45-day option to purchase the remaining 900,000 over-allotment units.
Financial Impact
Gross proceeds of $15,075,000 added to trust account, increasing total trust to $175,875,000.
Risk Factors
- No target identified yet — SPAC is a blank-check company with no operating business.
- Shareholder redemption risk upon any future business combination vote.
- Remaining over-allotment option (900,000 units) could cause minor additional dilution if exercised.
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-066058 |
| Document: ea0292516-8k_patriot.htm | 0001213900-26-066058 |
| Document: 0001213900-26-066058-index-headers.html | 0001213900-26-066058 |
| Document: 0001213900-26-066058-index.html | 0001213900-26-066058 |
| Document: 0001213900-26-066058.txt | 0001213900-26-066058 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 8, 2026 20w ago | 8-K | $10.00 $10.02 | ▲ +0.20% | ▼ −1.43% | $10.08 (+0.80%) |
May 22, 2026 22w ago | 8-K | $10.01 $9.98 | ▼ −0.30% | ▲ +1.65% | $10.08 (+0.70%) |
US Market Status
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