Loan & DebtJun 10, 2026, 04:06 PM
Eureka Acquisition Corp Extends Deadline, Issues $150K Note to Marine Thinking
AI Summary
Eureka Acquisition Corp (EURK) has extended its deadline to complete an initial business combination by one month, to July 3, 2026. This extension was facilitated by a $150,000 deposit into the company's trust account by Marine Thinking Inc., which also received an unsecured promissory note for the same amount. The note is non-interest bearing and can be converted into private units of Eureka at $10.00 per unit under certain conditions.
Key Highlights
- Eureka Acquisition Corp extended its business combination deadline to July 3, 2026.
- Marine Thinking Inc. deposited $150,000 into Eureka's trust account for the extension.
- Eureka issued an unsecured promissory note of $150,000 to Marine Thinking Inc.
- The Extension Note bears no interest and is convertible into private units at $10.00 per unit.
- The note is due upon business combination completion or the term expiry date.
- Events of default include failure to pay, bankruptcy, breach of obligations, cross defaults, enforcement proceedings, and unlawfulness.
Price Impact
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