Eureka Acquisition (NASDAQ: EURK) adds $150k note to extend merger window
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Eureka Acquisition Corp entered into a new financing arrangement to extend the time it has to complete its initial business combination. Marine Thinking Inc. deposited $150,000 into Eureka’s trust account, allowing the deadline to move from June 3, 2026 to July 3, 2026.
In return, Eureka issued a $150,000 unsecured, non‑interest‑bearing Extension Promissory Note to Marine Thinking, payable at the earlier of completing a business combination or the company’s expiry date. Marine Thinking may instead convert the note into private units at $10.00 per unit, each unit consisting of one Class A share and a right to receive one‑fifth of a Class A share after a business combination.
Positive
- None.
Negative
- None.
8-K Event Classification
4 items: 1.01, 2.03, 3.02, 9.01
4 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 3.02
Unregistered Sales of Equity Securities
Securities
The company sold equity securities in a private placement or other unregistered transaction.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Monthly Extension Fee: $150,000
Extension Note principal: $150,000
Conversion price: $10.00 per unit
+3 more
6 metrics
Monthly Extension Fee
$150,000
Deposited June 2, 2026 into the trust account to extend deadline
Extension Note principal
$150,000
Unsecured promissory note issued to Marine Thinking dated June 8, 2026
Conversion price
$10.00 per unit
Price used to convert Extension Note principal into private units
Extension deadline
July 3, 2026
New date to complete initial business combination after one-month extension
Prior deadline
June 3, 2026
Original date to complete initial business combination under charter
Right per unit
1/5 share right
Each unit includes a right to receive one-fifth of a Class A share
Key Terms
trust account, initial business combination, Extension Promissory Note, registration rights, +1 more
5 terms
trust account financial
"an aggregate of $150,000 of the Monthly Extension Fee was deposited into the Trust Account for the public shareholders"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
initial business combination financial
"the Company had until June 3, 2026 to complete its initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
Extension Promissory Note financial
"Extension Promissory Note dated June 8, 2026, issued by the Company to Marine Thinking Inc."
registration rights regulatory
"The Units (and the underlying securities) issuable upon conversion of the Note, if any, ... are entitled to registration rights."
Registration rights are contractual promises that let investors require a company to file paperwork with securities regulators so those investors can sell their shares to the public. They matter because they create a path to liquidity and an exit plan—without them, investors may be stuck holding shares for a long time. Think of them like a reserved ticket that guarantees access to a public marketplace when the holder is ready to sell.
forward-looking statements regulatory
"Certain statements contained in this on may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
What did Eureka Acquisition Corp (EURK) announce in this 8-K?
Eureka Acquisition Corp disclosed a $150,000 unsecured Extension Promissory Note issued to Marine Thinking Inc. This note funded a one-month extension of the SPAC’s deadline to complete its initial business combination from June 3, 2026 to July 3, 2026.
How is Marine Thinking Inc. involved with Eureka Acquisition Corp (EURK)?
Marine Thinking Inc. paid the $150,000 monthly extension fee into Eureka’s trust account under their existing business combination agreement. In exchange, Eureka issued Marine Thinking a $150,000 non-interest-bearing Extension Promissory Note, which can be repaid or converted into private units.
When is the Extension Promissory Note between EURK and Marine Thinking due?
The Extension Promissory Note is payable in full on the earlier of two events: consummation of Eureka Acquisition Corp’s business combination or the expiry of the company’s term. Failure to pay within five business days of maturity constitutes an event of default under the note.
Can the $150,000 Extension Promissory Note to Marine Thinking convert into equity?
Marine Thinking may convert the outstanding principal into private units of Eureka Acquisition Corp at $10.00 per unit. Each unit consists of one Class A ordinary share and a right to receive one-fifth of a Class A share upon completion of a business combination.
What rights attach to the private units issuable by Eureka Acquisition Corp (EURK)?
Each private unit includes one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share post-business combination. These securities, if issued upon conversion of the note, are generally restricted from transfer until completion of the initial business combination and carry registration rights.
What are some default events under Eureka Acquisition Corp’s Extension Promissory Note?
Events of default include failure to pay principal within five business days after maturity, bankruptcy actions, breaches of obligations, cross-defaults, enforcement proceedings, or unlawfulness affecting performance. Upon such events, the $150,000 Extension Promissory Note may be accelerated at the payee’s option.