Eureka Acquisition Corp
Key Highlights
- Eureka Acquisition Corp is a Special Purpose Acquisition Company (SPAC) established on June 13, 2023, by Hercules Capital Management Corp, with the sole mission of merging with a private company.
- The company launched its IPO on July 3, 2024, and its securities trade on Nasdaq under symbols EURKU, EURK, and EURKR.
- For the fiscal year ending September 30, 2025, Eureka is actively working towards identifying and pursuing its initial business combination and maintains 'shell company' status.
- As of December 12, 2025, there were 4,825,733 ordinary shares outstanding.
Financial Analysis
Eureka Acquisition Corp Annual Report - How They Did This Year
This year, we're taking a look at Eureka Acquisition Corp, which is a bit different from your typical company. Think of Eureka as a "blank check company" or a SPAC (Special Purpose Acquisition Company). It was created with one main goal: to find another private company and merge with it, essentially bringing that private company public. It doesn't have its own products, services, or day-to-day business operations yet.
What Eureka Acquisition Corp Is All About:
- Their Mission: Eureka Acquisition Corp was set up on June 13, 2023, by its sponsor, Hercules Capital Management Corp. Its sole purpose is to find a suitable private company to combine with through a merger, acquisition, or similar deal. This is what they call their "initial business combination."
- Going Public: The company officially launched its Initial Public Offering (IPO) on July 3, 2024, which means its shares became available for public trading on the Nasdaq Stock Market.
- Fiscal Year: This report covers their performance for the fiscal year that ended on September 30, 2025.
How They "Performed" This Year:
As a blank check company, Eureka's performance is measured by its progress in identifying and pursuing an initial business combination. The filing confirms they are actively working towards this goal.
- Shell Company Status: The company is officially designated as a "shell company." This means it doesn't have significant operations or assets other than cash and the goal of acquiring another business.
- Reporting: They've been diligent in their reporting, filing all the necessary documents with the SEC, including their Interactive Data Files.
What's Trading on Nasdaq?
Investors can find Eureka Acquisition Corp's securities trading on The Nasdaq Stock Market LLC under these symbols:
- EURKU: These are "Units," which typically include a Class A ordinary share and a right to acquire more shares.
- EURK: These are the Class A ordinary shares themselves.
- EURKR: These are "Rights," where each whole right allows you to acquire one-fifth of one Class A ordinary share.
As of December 12, 2025, there were a total of 4,825,733 ordinary shares outstanding, split between 3,388,233 Class A shares and 1,437,500 Class B shares.
What's Next for Eureka?
The entire focus for Eureka Acquisition Corp is on identifying and successfully completing its initial business combination. This is where the real "story" for the company will begin. Until then, investors are essentially betting on the management team's ability to find a promising private company to bring to the public market.
Key Takeaways:
- Eureka Acquisition Corp is a Special Purpose Acquisition Company (SPAC) established on June 13, 2023, by Hercules Capital Management Corp, with the sole mission of merging with a private company.
- The company launched its IPO on July 3, 2024, and its securities trade on Nasdaq under symbols EURKU, EURK, and EURKR.
- For the fiscal year ending September 30, 2025, Eureka is actively working towards identifying and pursuing its initial business combination.
- It maintains its "shell company" status and has fulfilled its SEC reporting obligations.
- As of December 12, 2025, there were 4,825,733 ordinary shares outstanding.
Risk Factors
- The primary risk is the uncertainty of successfully identifying and completing an initial business combination.
- Investors are essentially betting on the management team's ability to find a promising private company, as the company has no operations or assets other than cash.
Why This Matters
This 10-K for Eureka Acquisition Corp isn't about traditional financial performance; it's a status report for a Special Purpose Acquisition Company (SPAC). Investors should understand that Eureka has no products or services. Its entire value proposition lies in its ability to identify and merge with a promising private company, effectively bringing that company public. This filing confirms the SPAC's ongoing active search for such an "initial business combination" during the fiscal year ending September 30, 2025.
For investors, this report underscores that they are currently investing in the management team's expertise and the potential future value of an as-yet-unidentified target. The "shell company" designation means Eureka's assets are primarily cash in trust, providing a theoretical floor for the share price (EURK, EURKU, EURKR). The 4,825,733 ordinary shares outstanding as of December 12, 2025, represent the current equity base that will participate in any future deal. Diligence in SEC reporting, as noted, is a positive sign of compliance and transparency.
The practical implication is that Eureka's stock price will primarily react to news regarding potential merger targets or the announcement of a definitive agreement. Until then, it's a speculative play on the SPAC's ability to execute its mission. This filing reassures investors that the company is still actively pursuing its core objective and fulfilling its regulatory obligations, rather than facing issues or delays in its search.
What Usually Happens Next
The immediate and most critical next step for Eureka Acquisition Corp is the announcement of a definitive agreement for its "initial business combination." This involves identifying a suitable private company, negotiating the terms of a merger or acquisition, and formally signing a deal. This announcement, often referred to as a "de-SPAC" transaction, is the primary catalyst that will transform Eureka from a shell company into an operating business.
Following a definitive agreement, Eureka will file a comprehensive proxy statement (typically an S-4 filing) with the SEC. This document will provide detailed information about the target company, the proposed merger terms, and the combined entity's future plans. Shareholders will then vote on the proposed business combination. Crucially, investors who disagree with the deal or prefer cash can typically redeem their Class A ordinary shares for a pro-rata portion of the funds held in the SPAC's trust account.
If the merger receives both shareholder and regulatory approvals, the transaction will close. The combined company will then typically change its name and ticker symbol, beginning its life as a publicly traded operating entity. Investors should closely monitor news releases for any indications of potential merger targets, letters of intent, or the eventual S-4 filing. Given the SPAC was established in June 2023 and IPO'd in July 2024, there's usually a time limit (often 18-24 months from IPO) to complete a deal, making the period leading up to mid-2026 a critical window for a transaction.
Financial Metrics
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Document Information
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December 23, 2025 at 04:08 AM
This AI-generated analysis is for informational purposes only and does not constitute financial or investment advice. Always consult with qualified professionals and conduct your own research before making investment decisions.