Patriot Acquisition Corp. trust grows to $175.9 million after partial over-allotment
On May 21, 2026, underwriter Keefe, Bruyette and Woods partially exercised its over-allotment option for 1,500,000 units, generating $15,000,000 in gross proceeds. The sale of 75,000 additional private placement warrants added $75,000, and the company reports a total of $175,875,000 held in its trust account. The filing is an update to the company's May 18, 2026 initial public offering and adds to the cash held in trust.
Key points
- 1,500,000 over-allotment units were sold on May 21, 2026, at $10.00 per unit, for $15,000,000 in gross proceeds.
- 75,000 additional private placement warrants were sold to KBW at $1.00 per warrant, for $75,000.
- Total cash held in the trust account is $175,875,000; 900,000 units remain subject to the option, which runs 45 days from the IPO date.
The filing
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 June 08, 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.