SCHEDULE 13G 0001464694 XXXXXXXX LIVE Class A Ordinary Shares 01/23/2026 0002093912 Praetorian Acquisition Corp. G7S17G111 2 S BISCAYNE BLVD PMB 1004 SUITE #3200 MIAMI FL 33131 Rule 13d-1(c) Blackstone Aqua Master Sub-Fund, a sub-fund of Blackstone Global Master Fund ICAV b L2 0 0 0 0 0 N 0 OO Reflects beneficial ownership as of the date hereof. On January 23, 2026, Reporting Persons beneficially owned 1,900,000 units, each of which consisted of one Class A ordinary share of the Issuer and one third of one redeemable warrant. Blackstone Alternative Solutions L.L.C. b DE 0 0 0 0 0 N 0 OO IA Reflects beneficial ownership as of the date hereof. On January 23, 2026, Reporting Persons beneficially owned 1,900,000 units, each of which consisted of one Class A ordinary share of the Issuer and one third of one redeemable warrant. Blackstone Holdings I L.P. b DE 0 0 0 0 0 N 0 PN Reflects beneficial ownership as of the date hereof. On January 23, 2026, Reporting Persons beneficially owned 1,900,000 units, each of which consisted of one Class A ordinary share of the Issuer and one third of one redeemable warrant. Blackstone Holdings I/II GP L.L.C. b DE 0 0 0 0 0 N 0 OO Reflects beneficial ownership as of the date hereof. On January 23, 2026, Reporting Persons beneficially owned 1,900,000 units, each of which consisted of one Class A ordinary share of the Issuer and one third of one redeemable warrant. Blackstone Inc. b DE 0 0 0 0 0 N 0 CO Reflects beneficial ownership as of the date hereof. On January 23, 2026, Reporting Persons beneficially owned 1,900,000 units, each of which consisted of one Class A ordinary share of the Issuer and one third of one redeemable warrant. Blackstone Group Management L.L.C. b DE 0 0 0 0 0 N 0 OO Reflects beneficial ownership as of the date hereof. On January 23, 2026, Reporting Persons beneficially owned 1,900,000 units, each of which consisted of one Class A ordinary share of the Issuer and one third of one redeemable warrant. Stephen A. Schwarzman b X1 0 0.00 0 0.00 0 N 0 IN Reflects beneficial ownership as of the date hereof. On January 23, 2026, Reporting Persons beneficially owned 1,900,000 units, each of which consisted of one Class A ordinary share of the Issuer and one third of one redeemable warrant. Praetorian Acquisition Corp. 2 S Biscayne Blvd, PMB 1004 Suite 3200, Miami, FL 33131 Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: (i) Blackstone Aqua Master Sub-Fund, a sub-fund of Blackstone Global Master Fund ICAV c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: Ireland (ii) Blackstone Alternative Solutions L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (iii) Blackstone Holdings I L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (iv) Blackstone Holdings I/II GP L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (v) Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (vi) Blackstone Group Management L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (vii) Stephen A. Schwarzman c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: United States See Item 2(a). See Item 2(a). Y The information required by Items 4(a)-(c) with respect to each Reporting Person is set forth in Rows 5-11 of the applicable cover page hereto, and is incorporated herein by reference. As of the date hereof, the Reporting Persons do not beneficially own any of the Class A ordinary shares (the "Shares") of Praetorian Acquisition Corp. (the "Issuer"). As of January 23, 2026, the Reporting Persons held 1,900,000 units (the "Units"), each of which consisted of one Share and one-third of one redeemable warrant representing approximately 6.4% of the Shares outstanding. This filing represents an exit filing for Reporting Persons. The Shares have no CUSIP number. The CUSIP number for the Issuer's Units is G7S17G111. Blackstone Aqua Master Sub-Fund, a sub-fund of Blackstone Global Master Fund ICAV was the direct holder of the Units reported herein. Blackstone Alternative Solutions L.L.C. is the investment manager of Blackstone Aqua Master Sub-Fund, a sub-fund of Blackstone Global Master Fund ICAV. Blackstone Holdings I L.P. is the sole member of Blackstone Alternative Solutions L.L.C. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings I L.P. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by its senior managing directors and controlled by its founder, Stephen A. Schwarzman. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information furnished by another Reporting Person. Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Reporting Persons expressly declare that the filing of this Schedule 13G shall not be construed as an admission that any such person is or was, for the purposes of Section 13(d) and/or Section 13(g) of the Exchange Act or otherwise, the beneficial owner of any securities covered by this Schedule 13G held by any other person, and such beneficial ownership is expressly disclaimed. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a "group" for the purposes of Sections 13(d) and 13(g) of the Act. As of the date hereof, the Reporting Persons no longer beneficially own any Shares. As of June 23, 2026, the Reporting Persons beneficially owned 1,900,000 Units representing approximately 6.4% of the Shares outstanding. This filing represents an exit filing for the Reporting Persons. See the information set forth in Row 5 on each cover page. See the information set forth in Row 6 on each cover page. See the information set forth in Row 7 on each cover page. See the information set forth in Row 8 on each cover page. N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. EXHIBIT LIST Exhibit 99.1 Joint Filing Agreement, by and among the Reporting Persons, dated as of January 30, 2026. Blackstone Aqua Master Sub-Fund, a sub-fund of Blackstone Global Master Fund ICAV /s/ Stephen O'Connor 01/30/2026 Blackstone Alternative Solutions L.L.C. /s/ Stephen O'Connor 01/30/2026 Blackstone Holdings I L.P. /s/ Victoria Portnoy 01/30/2026 Blackstone Holdings I/II GP L.L.C. /s/ Victoria Portnoy 01/30/2026 Blackstone Inc. /s/ Victoria Portnoy 01/30/2026 Blackstone Group Management L.L.C. /s/ Victoria Portnoy 01/30/2026 Stephen A. Schwarzman /s/ Stephen A. Schwarzman 01/30/2026