Eureka Acquisition Corp Announces Revised Contribution to Trust Account and Terms and Conditions in Connection with Proposed Charter Amendment
Eureka Acquisition Corp (NASDAQ:EURK), a blank check company, has announced revised terms for its trust account contribution and charter amendment proposal. The company will hold an Extraordinary General Meeting on June 30, 2025, seeking approval to extend its business combination deadline from July 3, 2025, to potentially July 3, 2026.
Under the revised terms, EURK may implement up to 12 monthly extensions, requiring a $150,000 deposit into the trust account for each extension (increased from the original proposal of $60,000 or $0.03 per share). The company will have a 30-day cure period for missed payments, after which it must liquidate if payment isn't made.
Eureka Acquisition Corp (NASDAQ:EURK), una società di acquisizione a scopo speciale, ha annunciato termini rivisti per il contributo al conto fiduciario e la proposta di modifica dello statuto. L'azienda terrà un Assemblea Straordinaria il 30 giugno 2025, con l'obiettivo di ottenere l'approvazione per estendere la scadenza per la combinazione aziendale dal 3 luglio 2025 al potenziale 3 luglio 2026.
Secondo i termini rivisti, EURK potrà applicare fino a 12 proroghe mensili, richiedendo un deposito di 150.000 dollari nel conto fiduciario per ogni proroga (incrementato rispetto alla proposta originale di 60.000 dollari o 0,03 dollari per azione). L'azienda avrà un periodo di 30 giorni per regolarizzare eventuali pagamenti mancati, dopodiché dovrà liquidare se il pagamento non viene effettuato.
Eureka Acquisition Corp (NASDAQ:EURK), una compañía de cheques en blanco, ha anunciado términos revisados para su contribución a la cuenta fiduciaria y la propuesta de enmienda del estatuto. La empresa celebrará una Junta General Extraordinaria el 30 de junio de 2025, buscando la aprobación para extender su fecha límite de combinación de negocios del 3 de julio de 2025 al potencial 3 de julio de 2026.
Bajo los términos revisados, EURK podrá implementar hasta 12 extensiones mensuales, requiriendo un depósito de $150,000 en la cuenta fiduciaria por cada extensión (incrementado desde la propuesta original de $60,000 o $0.03 por acción). La empresa tendrá un período de gracia de 30 días para pagos atrasados, tras el cual deberá liquidar si no se realiza el pago.
Eureka Acquisition Corp (NASDAQ:EURK)는 스팩 회사로서, 신탁 계좌 기여 및 정관 수정 제안에 대한 수정된 조건을 발표했습니다. 회사는 2025년 6월 30일 임시 주주총회를 개최하여 사업 결합 기한을 2025년 7월 3일에서 최대 2026년 7월 3일로 연장하는 승인을 요청할 예정입니다.
수정된 조건에 따르면, EURK는 최대 12개월 연장을 시행할 수 있으며, 각 연장마다 신탁 계좌에 150,000달러를 예치해야 합니다 (기존 제안인 60,000달러 또는 주당 0.03달러에서 인상됨). 회사는 미납금에 대해 30일의 유예 기간을 가지며, 이 기간 내에 납부하지 않으면 청산해야 합니다.
Eureka Acquisition Corp (NASDAQ:EURK), une société à chèque en blanc, a annoncé des termes révisés concernant sa contribution au compte fiduciaire et la proposition de modification de ses statuts. La société tiendra une Assemblée Générale Extraordinaire le 30 juin 2025, cherchant l'approbation pour prolonger la date limite de combinaison d'affaires du 3 juillet 2025 au potentiel 3 juillet 2026.
Selon les termes révisés, EURK pourra appliquer jusqu'à 12 prolongations mensuelles, nécessitant un dépôt de 150 000 $ sur le compte fiduciaire pour chaque prolongation (augmentation par rapport à la proposition initiale de 60 000 $ ou 0,03 $ par action). La société disposera d'une période de grâce de 30 jours pour les paiements manqués, après quoi elle devra liquider si le paiement n'est pas effectué.
Eureka Acquisition Corp (NASDAQ:EURK), ein Blankoscheck-Unternehmen, hat überarbeitete Bedingungen für seinen Treuhandkontobeitrag und den Vorschlag zur Satzungsänderung bekannt gegeben. Das Unternehmen wird am 30. Juni 2025 eine außerordentliche Hauptversammlung abhalten, um die Genehmigung zur Verlängerung der Frist für die Geschäftszusammenführung vom 3. Juli 2025 auf potenziell den 3. Juli 2026 zu erhalten.
Nach den überarbeiteten Bedingungen kann EURK bis zu 12 monatliche Verlängerungen vornehmen, wobei für jede Verlängerung eine Einzahlung von 150.000 USD auf das Treuhandkonto erforderlich ist (erhöht gegenüber dem ursprünglichen Vorschlag von 60.000 USD oder 0,03 USD pro Aktie). Das Unternehmen hat eine Nachfrist von 30 Tagen für versäumte Zahlungen, nach deren Ablauf es liquidieren muss, falls die Zahlung nicht erfolgt.
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Insights
Eureka's extension terms revision increases trust contributions from $60K to $150K monthly, signaling both commitment and potential difficulties in finding a suitable target.
Eureka Acquisition Corp (EURK) has tripled its monthly extension fee commitment from the originally proposed $60,000 to
This significant increase in the trust contribution amount reveals two critical insights: First, management appears willing to put more capital at risk to secure additional time, demonstrating commitment to finding a suitable target. Second, the need for such extensive extensions suggests potential difficulties in the target identification or negotiation process.
The amended terms also include a 30-day cure period for missed extension payments, after which the SPAC would be forced to liquidate. Additionally, Eureka has committed to not withdrawing trust interest for dissolution expenses, providing an incremental layer of capital protection for shareholders.
These revisions arrive just days before the June 30th extraordinary meeting, giving shareholders minimal time to digest the changes. The redemption withdrawal deadline of June 26th gives investors a narrow window to reconsider redemption decisions based on these new terms. The increased extension fees would add up to
New York, June 25, 2025 (GLOBE NEWSWIRE) -- Eureka Acquisition Corp (the “Company”) (Nasdaq: EURK), a blank check company, today announced that in connection with its previously announced extraordinary general meeting in lieu of an annual general meeting of shareholders to be held on June 30, 2025, at 9:00 a.m., Eastern Time (the “Extraordinary General Meeting”), the Company has revised the contribution to its trust account and the terms and conditions in connection with the proposal to amend the Company’s current Charter (the “Charter Amendment Proposal”).
The Charter Amendment Proposal provides that the Company has until July 3, 2025 to complete a business combination, and may elect to extend the period to consummate a business combination up to 12 times, each by an additional one-month extension (the “Monthly Extension”), for a total of up to 12 months to July 3, 2026.
In connection with the Charter Amendment Proposal, the revised terms and conditions (the “Revised Terms”), among the others, include:
- If the Charter Amendment Proposal is approved, for each Monthly Extension, the amount of
$150,000 shall be deposited into the trust account of the Company (the “Revised Monthly Extension Fee”) (as compared to the originally proposed amount as the lesser of (i)$60,000 for all remaining public shares and (ii)$0.03 for each remaining public share); - The Company will file the Current Report on Form 8-K to disclose the deposit of each Revised Monthly Extension Fee timely;
- In the event that the Revised Monthly Extension Fee is not being deposited into the trust account by the 3rd day of each month since July 3, 2025, the Company has a period of thirty (30) days (the “Cure Period”) to pay any applicable past due payment for the Revised Monthly Extension Fee. If the Company fails to make any applicable past due payment during the Cure Period, then the Company shall immediately cease all operations, except for the purpose of winding up, and liquidate and dissolve with the same effect as if the Company failed to complete a business combination within the prescribed timeline; and
- The Company will not withdraw any amount out of the interest from the trust account to pay its dissolution expenses.
The record date for determining the Company shareholders entitled to receive notice of and to vote at the Extraordinary General Meeting remains the close of business on May 23, 2025 (the “Record Date”). Shareholders as of the Record Date can vote, even if they have subsequently sold their shares. Shareholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not to take any action. Shareholders who have not yet done so are encouraged to vote as soon as possible.
There is no change to the location, the Record Date, or any of the other proposals to be acted upon at the Extraordinary General Meeting, except as otherwise provided herein.
Shareholders who wish to withdraw their previously submitted redemption request may do so prior to the Extraordinary General Meeting by requesting that the Company’s transfer agent return such shares by 5:00 p.m. Eastern Time on June 26, 2025.
If you have questions regarding the certification of your position or delivery of your shares, please contact:
Continental Stock Transfer & Trust Company
1 State Street 30th Floor
New York, NY 10004-1561
E-mail: spacredemptions@continentalstock.com
The Company’s shareholders who have questions regarding the Revised Terms, the Extraordinary General Meeting or would like to request documents may contact the Company’s proxy solicitor, Advantage Proxy, Inc., at (877) 870-8565, or banks and brokers can call (206) 870-8565, or by email at ksmith@advantageproxy.com.
About Eureka Acquisition Corp
Eureka Acquisition Corp is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as “believes,” “expects,” “intends,” “plans,” “estimates,” “assumes,” “may,” “should,” “will,” “seeks,” or other similar expressions. Such statements may include, but are not limited to, statements regarding the date of the Extraordinary General Meeting and the redemption request deadline. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.
Additional Information and Where to Find It
On June 3, 2025, the Company filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies for the Extraordinary General Meeting. The Company will amend and supplement the definitive proxy statement to provide information about the Revised Terms and the Extraordinary General Meeting. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER DOCUMENTS THE COMPANY FILES WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the definitive proxy statement (including any amendments or supplements thereto) and other documents filed with the SEC through the web site maintained by the SEC at www.sec.gov or by contacting the Company’s proxy solicitor.
Participants in the Solicitation
The Company and its respective directors and officers may be deemed to be participants in the solicitation of proxies from shareholders in connection with the Extraordinary General Meeting. Additional information regarding the identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, is set forth in the definitive proxy statement. You may obtain free copies of these documents using the sources indicated above.
Contact Information:
Fen Zhang
Chairman and Chief Executive Officer
Email: eric.zhang@hercules.global
Tel: +86 135 0189 0555
