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Eureka Acquisition Corp Class A ( (EURK) ) just unveiled an update.
On January 2, 2026, Eureka Acquisition Corp deposited a $150,000 monthly extension fee into its trust account, funded by its sponsor Hercules Capital Management Corp, allowing the SPAC to extend its deadline to complete an initial business combination from January 3, 2026 to February 3, 2026. In connection with this payment, the company issued a $150,000 unsecured, interest-free promissory note to the sponsor on January 5, 2026, which is repayable upon the completion of a business combination or the company’s expiry and may be converted by the sponsor into private units at $10 per unit; a similar unsecured, interest-free promissory note for up to $300,000 was issued to the sponsor on January 6, 2026 to provide working capital until a deal is completed, also convertible into units. These financing steps extend Eureka’s runway to secure a target and provide operating liquidity, while potentially increasing the sponsor’s equity stake through conversion of the notes, with any resulting units subject to transfer restrictions until after the initial business combination.
More about Eureka Acquisition Corp Class A
Eureka Acquisition Corp is a Cayman Islands-exempted special purpose acquisition company (SPAC) formed to complete an initial business combination, typically by merging with or acquiring an operating business, with its public shareholders’ funds held in a trust account until such a transaction is completed.
Average Trading Volume: 4,328
Technical Sentiment Signal: Buy
Current Market Cap: $53.32M
See more insights into EURK stock on TipRanks’ Stock Analysis page.