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Eureka Acquisition Corp (EURK0.00%) has filed its Form 10-K filing for the fiscal year ended September 30, 2024.
The filing details the company's status as a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities.
Eureka Acquisition Corp completed its initial public offering on July 3, 2024, raising $50,000,000 through the sale of 5,000,000 units at $10.00 per unit. Each unit consists of one Class A ordinary share and one right to acquire one-fifth of one Class A ordinary share.
The company also completed a private placement of 228,000 units to its sponsor, Hercules Capital Management Corp, generating an additional $2,280,000.
The funds from the IPO and private placement were placed in a trust account and will be used to fund a business combination. The company has until July 3, 2025, to complete a business combination, with the possibility of extending this deadline by six months.
Eureka Acquisition Corp reported a net income of $255,721 for the fiscal year. The company had $670,352 in cash and a working capital of $684,474 as of September 30, 2024.
The company has not yet identified a target for its initial business combination but intends to focus on private companies in Asia.
The filing outlines potential risks, including regulatory changes in China, where the company may seek to acquire a target business.
Eureka Acquisition Corp's management team is led by Chief Executive Officer and Chairman Dr. Fen Zhang, with a focus on identifying attractive acquisition opportunities.
The company's Class A ordinary shares and rights are traded on the Nasdaq Capital Market under the symbols EURK and EURKR, respectively.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Eureka Acquisition Corp annual 10-K report dated December 26, 2024. To report an error, please email earnings@qz.com.