Eureka Acquisition Corp filed its quarterly report, showing it remains a pre‑revenue SPAC focused on completing a business combination. For the three months ended December 31, 2025, it recorded a net loss of $118,289, driven mainly by $417,642 of general and administrative expenses, partly offset by $299,353 of interest on its trust investments.
The trust account held $32,087,675 tied to 2,930,233 Class A ordinary shares subject to possible redemption, while the company had cash of $32,797 and a working capital deficit of $1,492,915 as of December 31, 2025. Management discloses substantial doubt about its ability to continue as a going concern if no business combination is completed by up to July 3, 2026.
Eureka details its signed business combination agreement with Marine Thinking Inc., including a planned continuance to Canada and subsequent amalgamation, plus related support, voting, registration rights, lock‑up, option and finder’s agreements. Shareholders previously redeemed 2,819,767 Class A shares for approximately $29 million, and the sponsor is funding monthly extension fees through non‑interest‑bearing promissory notes convertible into private units.
Eureka Acquisition Corp extended the deadline to complete its initial business combination from February 3, 2026 to March 3, 2026 by depositing a $150,000 Monthly Extension Fee into its trust account. The fee was paid by its sponsor, Hercules Capital Management Corp.
In return, Eureka issued the sponsor an unsecured $150,000 Extension Promissory Note dated February 4, 2026. The note bears no interest and is due upon the earlier of completing a business combination or the company’s expiry date, and includes standard event-of-default triggers that can accelerate repayment.
The sponsor may choose to convert the principal into private units at $10.00 per unit, with each unit consisting of one Class A ordinary share and a right to receive one-fifth of a Class A ordinary share after a business combination. These units, if issued, are restricted from transfer until the business combination and carry registration rights.
Feis Equities LLC and Lawrence M. Feis filed an amended Schedule 13G reporting beneficial ownership of 285,592 Class A ordinary shares of Eureka Acquisition Corp, representing 8.43% of the class. This percentage is based on 3,388,233 Class A shares outstanding as of December 12, 2025.
The reporting persons state they have sole voting and dispositive power over these shares and no shared power. They also certify the holdings were not acquired to change or influence control of Eureka Acquisition Corp.