Patriot Acquisition Corp. closes partial over-allotment exercise, raising $175M total

Patriot Acquisition Corp. completed a partial exercise of its underwriter over-allotment option, selling 1.5M additional units at $10 each for $15M in proceeds, bringing total IPO proceeds to $175M. The SPAC, focused on financial industry acquisitions, began trading on Nasdaq on May 15, 2026.