Patriot Acquisition Corp. (PTACW) Warrant
Each PTACW warrant gives the holder the right to buy 1 share of Patriot Acquisition Corp. at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.96, below the strike, so the warrant is out of the money. Patriot Acquisition Corp. has a market value of about $217.88M. Patriot Acquisition Corp. is a SPAC (no deal announced yet). It must complete a deal by November 18, 2027 or the warrants expire worthless. There are 14.03M listed warrants; exercising all of them would add 64.1% to the 21.88M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $11.69
From the issuer's S-1/A (2026-05-11).
Company and stock
- Company
- Patriot Acquisition Corp.
- Underlying stock
- PTAC
- Share price
- $9.96
- Market cap
- $217.88M
- Shares outstanding
- 21.88M
- Range since Jul 2026
- $9.89 – $10.02
- Change since Jul 2026
- -1%
- Value of all listed warrants
- $2.67M (1.2% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Radnor, PA
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.1901
- Price / model
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Dilution
- Shares outstanding
- 21.88M
- Listed warrants
- 14.03M
- Dilution if all exercised
- 64.1%
Warrant count from XBRL (single class reported).
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2027-11-18
- Latest possible deadline
- —
- Trust per share
- $10.09
- Sponsor
- Patriot Acquisition Sponsor LLC
- Sponsor's earlier SPACs
- 0 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about PTACW
When does the PTACW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of PTACW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many PTACW warrants are outstanding?
14.03M listed warrants, equal to 64.1% dilution if all are exercised.
Related warrants
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