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AI brief of an SEC Form 8-K · Patriot Acquisition Corp./CI (PTAC)

Patriot Acquisition Corp. IPO totals $175 million; trust account holds $175.9 million

Neutral Impact 3 of 5 financing Written later

Patriot Acquisition Corp., a blank check company, closed its initial public offering of 16,000,000 units on May 18, 2026. Underwriter KBW partially exercised its over-allotment option for 1,500,000 more units on May 21, 2026, and the total trust account balance reached $175,875,000. The company has not selected a business combination target, and it has 18 months from the IPO closing to complete one or return public shares.

Key points

  • 16,000,000 units sold at $10.00 each on May 18, 2026, for gross proceeds of $160,000,000
  • 1,500,000 over-allotment units sold May 21, 2026, for gross proceeds of $15,000,000
  • Private placement of 5,200,000 warrants at $1.00 each, plus 75,000 more warrants sold to KBW for $75,000 on May 21, 2026
  • Trust account total of $175,875,000; completion window of 18 months from the IPO closing

The filing

CompanyPatriot Acquisition Corp./CI (PTAC)
Form8-K, current report
Filed with the SECMay 22, 2026, 4:24 PM ET
Accession number0001213900-26-060594

Items reported: 8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 22, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.