Nothing set forth herein shall constitute an offer to sell any securities or constitute a solicitation of an offer to purchase any securities. Any such offer to sell or solicitation of an offer to purchase shall be made only by formal offering documents for Praetorian Capital Fund LLC or Praetorian Capital Offshore Ltd. managed by Praetorian Capital Management LLC (collectively the “Fund" or "PCM") which include, among others, a confidential offering memorandum, operating agreement and subscription agreement. Such formal offering documents contain additional information not set forth herein, including information regarding certain risks of investing in the Fund, which are material to any decision to invest in the Fund.


No information is warranted by PCM or its affiliates or subsidiaries as to completeness or accuracy, express or implied, and is subject to change without notice. This site and documents contain forward-looking statements, including observations about markets and industry and regulatory trends as of the original date of this document. Forward-looking statements may be identified by, among other things, the use of words such as “expects,” “anticipates,” “believes,” or “estimates,” or the negatives of these terms, and similar expressions.


Forward-looking statements reflect PCM’s views as of such date with respect to possible future events. Actual results could differ materially from those in the forward-looking statements as a result of factors beyond PCM’s control. Investors are cautioned not to place undue reliance on such statements. No party has an obligation to update any of the forward-looking statements in this document. These materials should be considered current only as of the date of publication without regard to the date on which you may receive or access the information.


PCM maintains the right to delete or modify information without prior notice. Return targets or objectives, if any, are used for measurement or comparison purposes and only as a guideline for prospective investors to evaluate a particular investment program’s investment strategies and accompanying information. Targeted returns reflect subjective determinations by PCM based on a variety of factors, including, among others, internal modeling, investment strategy, prior performance of similar products (if any), volatility measures, risk tolerance and market conditions.


Performance may fluctuate, especially over short periods. Targeted returns should be evaluated over the time period indicated and not over shorter periods. Targeted returns are not intended to be actual performance and should not be relied upon as an indication of actual or future performance. Statements made herein that are not attributed to a third-party source reflect the views and opinions of PCM.


The past performance of the Fund, or PCM, its principals, members, or employees is not indicative of future returns.


The performance reflected herein and the performance for any given investor may differ due to various factors including, without limitation, the timing of subscriptions and withdrawals, applicable management fees and incentive allocations, and the investor’s ability to participate in new issues. There is no guarantee that PCM will be successful in achieving the Fund’s investment objectives.


An investment in the Fund contains risks, including the risk of complete loss. The investments discussed herein are not meant to be indicative or reflective of the portfolio of the fund. Rather, such examples are meant to exemplify PCM’s analysis for the fund and the execution of the fund’s investment strategy. While these examples may reflect successful trading, obviously not all trades are successful and profitable. As such, the examples contained herein should not be viewed as representative of all trades made by PCM.