Praetorian Acquisition Corp. is a blank check company incorporated on September 29, 2025, formed for the purpose of effecting a business combination. The company has not generated any operating revenues to date, with efforts limited to organizational activities, its Initial Public Offering (IPO), and searching for a business combination target. The IPO was consummated on January 26, 2026, selling 22,000,000 Units at $10.00 per Unit, generating gross proceeds of $220,000,000. Simultaneously with the IPO, 4,670,000 Private Placement Warrants were sold to the Sponsor at $1.00 per warrant, generating $4,670,000. The underwriters exercised their over-allotment option in full on March 12, 2026, resulting in the issuance of an additional 3,300,000 Units ($33,000,000 gross proceeds) and 330,000 Private Placement Warrants ($330,000 gross proceeds) on March 16, 2026. A total of $253,000,000 from the IPO and Private Placements was deposited into the Trust Account. The company must complete its initial business combination by January 26, 2028, or by April 26, 2028, if a letter of intent for a business combination is executed within 24 months from the IPO closing. The strategic focus is on target businesses in traditional sectors that can be transformed through the application of automation and artificial intelligence. For the period from September 29, 2025 (inception) through December 31, 2025, the company reported a net loss of $49,204, consisting of general and administrative costs. As of December 31, 2025, the company had a working capital deficit of $263,920, which became a positive working capital of $2,294,798 after the IPO on January 26, 2026. The Sponsor acquired Founder Shares at a nominal price of $0.003 per share, which may result in significant dilution to public shareholders upon the consummation of a business combination.