Eureka Acquisition Corp Extends Merger Deadline to July 3rd with New $150K Convertible Note
EURK is trading near its 52-week low of $10.025 (15% above the low) on light trading volume (0.1× avg).
Summary
Eureka Acquisition Corp extended its business combination deadline to July 3, 2026, by issuing a $150,000 convertible promissory note to its target, Marine Thinking Inc.
Key Events · Financing and Capital Events · EURK
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Business Combination Deadline Extended
The company extended its deadline to complete a business combination by one month, from June 3, 2026, to July 3, 2026.
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New Convertible Promissory Note Issued
Marine Thinking Inc., the target company, provided $150,000 to fund the extension, for which Eureka Acquisition Corp issued a zero-interest convertible promissory note dated June 8, 2026.
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Potential Dilution from Conversion
The note is convertible into private units at a rate of $10.00 per unit, each consisting of one Class A ordinary share and one right to acquire one-fifth of a Class A ordinary share. This conversion price is below the current market price.
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Continuation of Prior Extensions
This marks another in a series of monthly extensions funded by Marine Thinking, following similar actions in March, April, and May 2026, underscoring ongoing challenges to finalize the merger.
Analysis · EURK · Energy & Transportation
Eureka Acquisition Corp, a SPAC facing a business combination deadline and going concern warnings, has secured another one-month extension to complete its merger with Marine Thinking Inc. This extension, funded by a $150,000 zero-interest convertible promissory note from Marine Thinking, is critical for the SPAC's continued operation and avoids immediate liquidation. While it provides a necessary lifeline, it also highlights the ongoing challenges in closing the deal and introduces further potential dilution for existing shareholders if the note is converted at $10.00 per unit, which is below the current market price.
How filings like this one have moved
In the 30 days to Sep 12, 2026, 29.9% of the 1944 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.15%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, EURK was trading at $11.50 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $55.5M. The 52-week trading range was $10.03 to $12.66. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.