Eureka Acquisition Corp (NASDAQ: EURK)

Eureka Acquisition Corp is a blank check exempted company incorporated in the Cayman Islands on June 13, 2023, for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The company has no ongoing operations and its sole business activity since inception has been identifying and evaluating suitable acquisition transaction candidates. It intends to utilize cash from its initial public offering, securities, debt or a combination thereof to effect a business combination, with an initial focus on Asia.

Eureka Acquisition Corp generates no revenue and has incurred losses since inception from formation and operating costs. The company relies on the sale of its securities and loans from its sponsor and other parties to fund its operations. All proceeds from its initial public offering, over-allotment option and private placements are held in a trust account established for the benefit of public shareholders and underwriters, with substantially all net proceeds intended to be applied toward consummating a business combination and working capital.

The company operates through the following segments:

Eureka Acquisition Corp operates in the highly competitive special purpose acquisition company (SPAC) industry, where numerous blank check companies seek to raise capital through initial public offerings with the intent of completing a business combination within a specified timeframe. The company differentiates itself through the experience and track record of its management team in investing, operating and transforming businesses, particularly in the Asian market, and its established deal sourcing network that includes private equity and venture capital sponsors, family offices, executives, merger and acquisition advisors, investment banks and financial intermediaries. Its status as a publicly listed acquisition company offers target businesses an alternative to the traditional initial public offering process, which the company believes is less expensive and provides greater certainty of execution.

Eureka Acquisition Corp serves no current customers as it has no ongoing operations or revenue-generating activities. The company’s efforts are directed toward identifying a target business for its initial business combination, with the intention of creating shareholder value by acquiring a company that can benefit from access to U. S. capital markets and a public profile. Upon completion of a business combination, the combined entity would serve the customers of the acquired business, which the company intends to focus on private companies in Asia with compelling economics, clear paths to positive operating cash flow, significant assets and successful management teams seeking access to U. S. public capital markets.