Eureka Acquisition Corp (EURK) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed on November 4, 2025, by Eureka Acquisition Corp, a Cayman Islands exempted company. The filing addresses the extension of the deadline to consummate an initial business combination. The original deadline was November 3, 2025.
Key Financial Metrics and Obligations
The filing details a specific financial obligation created to facilitate the extension:
- Extension Fee: $150,000 deposited into the Trust Account on October 31, 2025.
- Debt Instrument: An unsecured promissory note (the "Extension Note") with a principal amount of $150,000 issued to the Sponsor, Hercules Capital Management Corp.
- Interest Rate: 0% (non-interest bearing).
- Liquidity Impact: The fee was paid by the Sponsor, not from the Company's operating cash, preserving the Trust Account balance for public shareholders.
The filing text does not provide data on revenue, profit, operating cash flow, or general liquidity metrics beyond the specific extension transaction.
Material Changes
The primary material change is the extension of the business combination deadline from November 3, 2025, to December 3, 2025. This was achieved through the deposit of the $150,000 Monthly Extension Fee. Additionally, the Company incurred a new direct financial obligation via the issuance of the Extension Note to the Sponsor.
Outlook, Risks, and Unusual Items
Extension Terms: The Company may extend the deadline further in one-month increments up to July 3, 2026, subject to additional $150,000 deposits.
Note Conversion: The Sponsor has the right, but not the obligation, to convert the Extension Note into private Units (one Class A ordinary share and one-fifth of a right) at a price of $10.00 per Unit. Conversion requires written notice at least two business days prior to the closing of a business combination.
Risks and Contingencies: The Extension Note is payable in full upon the earlier of the consummation of a business combination or the Company's expiry. Events of default include failure to pay within five business days of maturity, bankruptcy, breach of obligations, or cross-defaults, which could trigger acceleration of the debt.
Investor Verification Checklist
- Verify the current balance of the Trust Account to ensure it covers the $150,000 extension fee and potential future extensions.
- Confirm the Sponsor's intent regarding the conversion of the $150,000 Extension Note into equity upon a potential business combination.
- Monitor the Company's progress toward a business combination before the new December 3, 2025 deadline.
- Review the full text of the Extension Note (Exhibit 10.1) for specific default triggers and acceleration clauses.