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Eureka Acquisition Corp (EURK+0.34%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing net income of $542,018. This was primarily due to interest earned on investments held in the Trust Account amounting to $694,056, offset by general and administrative expenses of $152,038.
As of December 31, 2024, the company reported cash holdings of $552,031 and a working capital of $532,436. The company has no long-term debt or off-balance sheet arrangements.
Eureka Acquisition Corp is a blank check company formed for the purpose of entering into a business combination with one or more businesses. The company has not yet selected a target business for its initial business combination.
The company completed its IPO on July 3, 2024, raising gross proceeds of $57,500,000. Simultaneously, the company conducted a private placement raising an additional $2,280,000.
The company has until July 3, 2025, to complete its initial business combination, with the option to extend this period by up to six months. If a business combination is not completed within this period, the company will liquidate.
Eureka Acquisition Corp's management has raised concerns about the company's ability to continue as a going concern if a business combination is not completed within the specified timeframe.
The company has entered into agreements with financial advisors to assist in identifying potential acquisition targets, although no definitive agreements have been reached.
The filing also outlines the company's accounting policies, including the treatment of Class A ordinary shares subject to redemption and the fair value measurements of financial instruments.
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 quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.