| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| SG&A Expense | $64K | — | — |
| Operating Income | -$64K | — | — |
| Net Income | -$64K | — | — |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Current Assets | $26K | -2.3% | — |
| Total Assets | $464K | +147.7% | — |
| Current Liabilities | $579K | +143.8% | — |
| Total Liabilities | $579K | +143.8% | — |
| Stockholders' Equity | -$114K | -128.9% | — |
Business Overview
Patriot Acquisition Corp. is a blank check company incorporated in the Cayman Islands in October 2025, formed to identify and consummate a business combination with target companies in the financial and business services industry, including commercial banks, specialty finance, and fintech companies. The Company completed its Initial Public Offering on May 18, 2026, raising $160 million in gross proceeds, followed by a partial over-allotment closing on May 21, 2026 raising an additional $15 million. As of March 31, 2026, the Company had not commenced operations and was in the process of identifying a target business for combination.
Forward Guidance
The Company states it "currently intends to concentrate its efforts in identifying businesses in the financial and business services industry (FIG Sector), with a focus on commercial banks, specialty finance and financial technology companies." Regarding the completion timeline, the Company must complete the initial Business Combination "within 18 months from the closing of the Initial Public Offering" and "will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest."
Key Risk Factors
The Company faces significant risks including: (1) failure to complete a business combination within the 18-month completion window, which would result in liquidation and return of trust account funds to public shareholders; (2) inability to identify suitable target businesses in the financial services sector meeting the 80% fair market value threshold requirement; (3) liquidity constraints, with the Company having no cash and a working capital deficit of $552,654 as of March 31, 2026, relying on sponsor loans to fund operations; and (4) redemption risk, as public shareholders may redeem their shares upon business combination completion, potentially reducing available capital for the combined entity.