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Eureka Acquisition Corp Class A ( (EURK) ) has provided an update.
On or around April 2, 2026, Eureka Acquisition Corp. deposited a $150,000 monthly extension fee into its trust account, allowing the SPAC to extend the deadline to complete its initial business combination by one month from April 3, 2026 to May 3, 2026. The fee was funded by Marine Thinking Inc. under their October 29, 2025 business combination agreement, and Eureka issued a $150,000 unsecured, non-interest-bearing promissory note dated April 6, 2026 to Marine Thinking that is repayable at the closing of the merger or the company’s expiry and is convertible, at Marine Thinking’s option, into private units of Eureka, a structure that reinforces Marine Thinking’s economic stake in the deal while modestly increasing potential dilution for existing stakeholders if converted.
The note can be accelerated upon specified default events such as non-payment, bankruptcy actions, or breaches, and any units issuable upon conversion would be locked up until completion of the initial business combination but carry registration rights. This extension maneuver provides Eureka with additional time and financial flexibility to advance its proposed merger with Marine Thinking in a competitive SPAC environment, while formalizing Marine Thinking’s support through a convertible instrument that ties the target more closely to the transaction’s successful completion.
More about Eureka Acquisition Corp Class A
Eureka Acquisition Corp. is a Cayman Islands-exempted special purpose acquisition company (SPAC) formed to pursue an initial business combination. It has entered into a business combination agreement with Marine Thinking Inc., a Canada-based provider of autonomous ship and fleet solutions, signaling a focus on the maritime autonomy and smart shipping technology sector.
Average Trading Volume: 6,057
Technical Sentiment Signal: Buy
Current Market Cap: $54.53M
See more data about EURK stock on TipRanks’ Stock Analysis page.