MergerJun 23, 2026, 06:11 AM
Eureka Acquisition Amends Merger Agreement on Board Composition
AI Summary
Eureka Acquisition Corp, Marine Thinking Inc., and 17358750 Canada Inc. entered into Amendment No. 1 to their Business Combination Agreement (BCA) on June 12, 2026. This amendment specifically revises Section 5.19 of the BCA, which outlines the requirements for the post-closing board of directors of the SPAC. The revised terms specify an eight-director board composition, including designations by Marine Thinking Inc. and the IPO Sponsor, and a requirement for a majority of Canadian citizens.
Key Highlights
- Amendment No. 1 to the Business Combination Agreement (BCA) was signed on June 12, 2026.
- The amendment revises Section 5.19 of the BCA regarding post-closing directors.
- The post-closing board of directors for the SPAC and Amalco will consist of eight members.
- Seven directors will be designated by Marine Thinking Inc., with four independent and one financial expert.
- One director will be designated by the IPO Sponsor or its Affiliates.
- At least five of the eight directors must be Canadian citizens.
Price Impact
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